The financial markets have always been dynamic making the ever-changing role of forex brokers complex and challenging. Needless to say the last couple of years have seen momentous change in the industry. With high inflation and tightening monetary policies of central banks around the world, 2022 is shaping up to be another demanding year for brokers.
The last two years have also seen a surge in retail trading with a huge number of new investors entering the markets and experienced ones raising their trading volumes. A survey revealed that 66% of these new investors were under the age of 45. Their reasons for trading included planning for retirement or taking advantage of the volatility in the market with a small entry amount.
The influx of traders only increased the competitiveness in the industry worldwide. Brokers now not only need to offer them diverse assets and the most advanced technologies for trading, they also need to cater to the high expectations of millennial and Gen Z traders.
This makes the choice of service provider to partner with even more critical to the success of retail brokers.
AIRSOFT Technology with its all-in-one technology solution, solves some of the most pressing onboarding challenges for brokers.
Extensive Customisation of the CRM System
The Customer Relationship Management platform is at the centre of all onboarding efforts for brokers. As a broker expands into multiple jurisdictions and different business models, these changes need to be reflected on the CRM. They face the challenge of customising the system, depending on the target jurisdictions.
For starters, strict regulations and compliance protocols by global regulatory bodies mean different limits to leveraged trading, varied KYC requirements, and a list of prohibited assets for trading, based on the country involved. It is now crucial for brokers to maintain documents and records of compliance with regulatory bodies. This requires powerful back-office tools.
Customisation is not only restricted to compliance. The CRM needs to be user-friendly and accessible, which is possible when it has multi-lingual capabilities. If brokers lack such a system, it will result in a subpar onboarding funnel, leading to lower conversions. Some other desirable features of a robust CRM solution include powerful security management and tools to manage access rights.
AIRSOFT offers comprehensive software solutions and end-to-end consulting services for the financial sector. Experts at the company have been associated with the industry for close to two decades, which gives them a unique insight into the arena. It also enables them to design the most customised and compliant offerings for both start-ups and established brokers.
Set up a meeting and free demowith an AIRSOFT expert at the iFX EXPO Dubai 22-24 February at Super Booth #34.
Advanced Technology and Infrastructure for Automation
Intelligent solutions that simplify client onboarding are one of the top trends in the capital markets, reveals a 2020 Capgemini survey. Accessibility and ease of use are some of the biggest advantages of automated platforms.
These platforms enable brokers to eliminate time and energy-intensive tasks, such as KYC, lead management, IB management, while offering extensive visibility. This frees brokers up to focus on enhancing clients’ trading experience, new trading technologies, and more to ensure client retention.
AIRSOFT helps brokers increase their efficiency with integrated solutions like multi-level IB programs, dedicated support and project manager, integrated VOIP solutions, and integrated banking solutions.
Multiple Stable Payment Methods for Clients
The pandemic has accelerated the shift towards digital payments, and this shift has highlighted the need for brokers to update and differentiate their offerings. Friction in deposits and withdrawals can lead to inefficient client onboarding, and often loss of potential clients. It can also lead to an increase in the time taken to onboard, and high operational costs.
Bank accounts are hard to open and designated client funds accounts take a ton of paperwork, certifications, and compliance, based on the jurisdiction. This makes payments a challenging issue from the legal perspective.
PSPs can be unregulated, and their networks can suffer from downtime, without warning, leading to loss of funds. To ensure compliance, credibility, and client retention, it is important for brokers to offer reliable and alternative payment methods, so that transactions are smooth and secure.
Integrating each PSP in a CRM is a tedious process, which involves wasting precious time and resources in developing and testing, ultimately leading to loss of clients. Unless there is a development team dedicated to payment integrations full-time, this is a counter-productive effort.
AIRSOFT offers integrated PSP solutions through its partnerships with leading PSPs, cashiers, and exchanges, so that traders in any part of the world can easily deposit and withdraw funds. The company can further integrate with any leading PSP, as per broker demand through flexible APIs. All this results in increased operational efficiency for the broker, along with access to tools that enable enhanced trading experiences.
Apart from intelligent onboarding solutions, AIRSOFT helps brokerage firms in their expansion efforts through dynamic business consulting services, website development, and referrals to industry experts. It is a one-stop ecosystem for all broker needs.
Sneak Peek into 2022
To help keep their clients at the forefront of the forex broker space, AIRSOFT will be launching a fully integrated MT5 solution. AIRSOFT will obtain the full MT5 license with unlimited features saving their brokers money, time and lengthy procedures. Brokers will be able to instantly offer their clients a branded experience on one of the most popular trading platforms for both web and mobile (iOS and Android). Watch this space to find out more.
Meet us at iFX EXPO Dubai 22-24 February, 2022
The AIRSOFT team will be exhibiting their leading-edge technology solutions for brokers at Booth #34 at the iFX Expo. Book a one-on-one meeting with one of our experts to discuss a tailored solution for your brokerage.
