5 Reasons Why Forex Trading Cabinets Are A True “Win/Win” For FX Brokers
You may have heard the term Forex Trading Cabinet before but might not have been certain what it refers to. With so many acronyms floating around the forex industry, it’s quite easy to become overwhelmed in terminology. In today’s post, we’ll reveal the mystery behind FX Trading Cabinets and also outline some reasons your broker should consider using one.
What exactly is a Forex Trading Cabinet? In the simplest terms it refers to the private login area that traders use to manage their accounts. There is far more to the technology, though than a simple login panel for traders. A Forex Trader’s Cabinet offers a variety of functionality that will no doubt help to improve the effiency of a broker and provide valuable insights to the strength of their business. Consider 5 reasons why every forex broker should think about integrating a Forex Trading Cabinet into their website:
#1. Boost the Efficiency Of Administrative Tasks with our Trader’s Room Technology
A major advantage of our Forex Trader Cabinet technology is the ability to organize client data in a single area. Without such a tool, the account opening process can get quickly become messy, with documents floating around in a variety of places. Another benefit is that all account related requests such as information changes, deposits and withdrawal requests are recorded and easy to manage.
The ability to easily organize client account information and track requests is a feature that is especially important for regulated brokers. Regulators around the globe often require that brokers properly track client data and record all requests, making it a no brainer to consider our Trader Cabinet technology for this purpose.
#2. Multi-Tier / Multi Level IB Management
Properly managing and keeping track of rebate distribution for IBs can be a daunting task. This holds especially true for brokers working with MT4/MT5 as multi-level IB payouts are not supported. Because our Trader Cabinet technology can accomodate an unlimited stream of IB payouts, this problem is solved when using our technology. Furthermore, we provide a variety of reporting tools in our system so both your broker and IBs are able to easily track payments and run reports.
#3. Improved Client Experience That Saves Broker Time
Without FX Trader Cabinet technology, the experience of your clients will suffer. As an example, let’s consider the withdrawal process. The traditional way that brokers handle withdrawal requests is by sending a PDF file to the client. Experience has shown that the chance of error increases and more inquiries tend to arise from the client’s side when a PDF has to be filled out and returned to the broker. Our Trading Cabinet technology fully automates this process, so withdrawals can be processed with a few clicks.
Deposits are another example to consider. Prior to Trading Cabinet technology, a broker would display all deposit options on their website, a service we can accommodate as we also specialize in website design services for forex brokers. What makes our technology superior, however, is that all payment methods, from bank wires to credit / debit deposits, can be integrated into a single portal. Furthermore, we also offer the ability to integrate a live chat feature as well as other functionality into the system, leaving no doubt that the client experience dramatically improves with our Trader Cabinet technology.
#4. Simplify the Account Opening Procedure with our Technology
Returning to the subject of client experience, let’s focus on one of the most important areas of a broker’s website: the account application form. Because all brokers want clients to have a positive experience filling out the account application, this is one area where it doesn’t pay to cut corners.
Our FX Trading Cabinet technology has two major benefits. First, we provide a complete online application form that your broker is able to customize based on specific needs. Secondly, our account application fully integrates with the major trading platforms available in the market place: MT4/MT5, cTrader, and the Condor trading platform as just a few examples.
Finally, once the account has been established, the new client automatically receives access to their custom Trader Room area. Once logged in they will have the opportunity to finish the application, upload account required documents and ask questions.
#5. A Variety of Analytical Tools at Your Disposal
Whether it’s a forex broker or just about any business, there is a massive amount of data that is generated on a daily basis. If your broker is not taking full advantage of the clues and insights this data can provide to the future of your business, then you’ll find yourself at huge disadvantage, especially in relation to the competition.
Our FX Trader’s Cabinet provides a variety of reports and analytical tools that will no doubt help to improve the success and efficiency of your brokerage. For example, which currency pairs do your clients trade the most? Which months are the most active for your brokerage, and more importantly which months are the least active? These are just a few examples of the valuable insights our FX Trader Cabinet technology can provide to your brokerage.
Check Out Atomiq Consulting’s FX Traders Cabinet Today!
Now that you’ve had the opportunity to learn a little more about our Trading Cabinet Technology, the next step is to request a free demonstration of the system. Because our technology offers far more features than we could describe in a single article, we encourage you to contact us to further explore our Trading Cabinet in further detail. We look forward to hearing from you!
Have a look at some of the additional services our clients have found to be helpful in the growth of their business.