The success of your brokerage depends on a steady flow of new account activations. This knowledge base article will review some of the best ways to get clients for forex trading.
One thing you’ll have noticed over the last few years will have been the surge in marketing and client acquisition costs. As a forex broker, you compete against more companies as they come online. All of these companies are targeting the same potential clients.
The forex market is constantly changing, with new technologies and products appearing. This includes new trading platforms, mobile apps, signal modules, and technical analysis applications.
We’ve collected decades of feedback on client acquisition and forex retention. So here’s our list of the best ways to get clients for forex trading for your brokerage.
Who doesn’t like a bonus? New traders will look for brokers with generous bonus schemes for FTDs (First Time Deposits) and re-deposits. Bonus offers are a tried and tested way to get new clients for forex trading.
The kind of promotions and bonus offers you run will depend on your licensing. Whatever the regulation framework, running bonus campaigns calls for a dedicated system to handle all the background work.
Our Bonus Automation Module ticks all the boxes and more. Features include multiple promotion types, including Welcome, Next Deposit, Loyalty, and Referral bonuses. In addition, the system allows you to customize all your campaigns and promotion configurations and comes with intelligent fraud prevention tools.
MAM / PAMM / Signals Module
Copy trading is popular among traders and investors and is a great way to increase your broker’s FTD numbers and upsell existing clients.
We did a study on the effectiveness of MAM accounts in particular and the value these can have to your brokerage. But, again, the evidence is conclusive. We’re seeing increasing numbers of active traders turning to industry experts to manage their accounts.
The PLUGIT Money Management Module features MAM, PAMM, and Signals. This software lets you attract and retain more clients and generate additional revenue from copy trading fees and commissions.
IB / Affiliate Module
Look into any successful forex and CFD broker, and you’ll probably find a successful IB and affiliate system. The financial market industry is seeing tremendous growth, which is good news for brokers, but the flip side of this increase is the rising marketing costs for operators.
One way to offset these costs is through a partner program. IBs and affiliates work on a performance-based model. As a result, they get paid for the results. Yes, commissions for IBs and affiliates are high, but you only pay based on their results as they bring in clients for your brokerage.
You must offer more than just high commissions to run an effective partner program. Successful affiliates will look for features such as tracking, real-time reporting, and flexible payment methods. All these are part of the PLUGIT solution, designed to bring more clients for forex trading.
We’ve included the ability to generate deep links and banner ad campaigns. In addition, the module features real-time reporting, customizable payout schemes, and multi-level sub-affiliate schemes.
Running a successful partner program isn’t easy. However, the results can make a real difference to your bottom line, and the PLUGIT intelligent automation will do all the heavy lifting for you.
Our flagship product, the YOONIT suite, comes with all these modules and all our management modules, including:
- Custom Forex CRM
- Risk Management Module
Built on the Microsoft Azure infrastructure, YOONIT is the power behind over one hundred of the leading global brokers. It’s netted us multiple awards in the fintech industry as one of the top broker solutions in the industry.
YOONIT takes a modular approach. Take one module or all of them, depending on your operations’ needs. All our products are customizable and scalable, and YOONIT is no exception.
As your business grows, our products grow with you and come with the renowned PLUGIT customer service.
If you need more forex clients, we’re here to help.
We’d love to show you what YOONIT can do, so why not get in touch for a no-obligation demo of the modules and how these can help your business?
We’ve helped dozens of brokers around the world. We know we can help you get more clients for forex trading!