What Tools Do You Need to Manage your FX Brokerage Business and Increase Profits?
The Retail FX Industry has gotten a lot more competitive and brokers are under a lot more scrutiny. To maintain their edge and increase profitability brokers need advanced tools and partners that can help them achieve this. At Tripeak we have a number of tools that have been an important factor in the success of many of our clients. One of the most important tools is the Tripeak Broker Portal. This is a comprehensive and well-rounded technology package that gives you full control over your business. Whether it’s controlling your volume, commissions, spreads or tradeable assets – everything is instantly configurable and accessible with a click of a mouse and provides a real-time overview of risk, balance, equity, commissions and profit/loss.
The Broker Portal Dashboard will give you a clear picture of how your brokerage is performing with a macro level view of profits made since inception, current balance and equity, used and free margin and more.
Risk is a very import factor for a retail brokerage company and in order to successfully manage risk you need to be able to monitor risk. The portal will allow you to view risk in real time to determine the unrealized profit or loss on currency pairs in US dollar terms, as well quote currency. You can see volume, average price, current market rate.
You can also drill down and monitor exposure in individual currencies which is an important factor to help you manage risk much more effectively.
The Portal also allows you to manage your progress by examining the changes in equity, commissions, and realized profits/losses. You will be able to choose between multiple accounts and to set the beginning and starting date to view the changes in the beginning balance and equity, commissions and commission adjustments, realized profit/loss, rollover, withdrawals, deposits, floating profit/loss, broker profit, ending balance and ending equity. In addition, you can use this tab to download detailed historic reports in various formats.
In the Retail FX space volume is often synonymous with profits, assuming everything else in your brokerage is being managed well. The portal will allow you to look at your different business segments and figure out what’s working and what needs help. You can select the asset you are interested in, and see which instruments are being traded, the number of trades in standard lots, base currency, unit volume and total notional volume for that instrument.
In the Broker Portal we have designed a special feature that allows you to create your MT4 managers and groups. With these groups, you can then determine their leverage, minimum/maximum lot size, and trading capabilities. You can select whether the new group will be an STP, Dealing Desk or Demo trading group, the deposit currency and whether rollover charges will be charged to your clients or not. With MT4 groups, you can also choose which asset class will be tradeable through the group – FX, metals or CFDs – as well as the minimum and maximum lot sizes that your clients can take. In addition, MT4 groups allow you to determine at which margin levels will your customers be notified that they are close to being liquidated, and finally stopped out.
You are also able to determine the group revenue streams for the MT4 group. Here you will manage the spreads for each of the active asset classes in your group, and decide whether you want to add an additional markup to the spread or charge commissions. In addition, you can set rebates that you are paying to your introducing brokers in the “FX, Metals and CFD Agent Commissions” field.
Everything in the broker portal is about making better decisions, which is what is required to run a successful business. The other factor that is hugely helpful to running your business is the CRM capability.
The XW Backoffice CRM feature of Tripeak empowers entire companies to be able to run themselves more efficiently. We have seen how CRM technology has affected nearly every industry, and to democratize it like this program does makes it possible for all these companies to exist and scale themselves quickly.
Dealing with customers is simple on a small scale, but it becomes more difficult as you start to deal with an increasing number of new clients every day. That is why we’ve created a system to help you, as no one can have more than a certain number of friends before they start to forget things about them and lose their relationship maintaining ability.
From the broker portal to the CRM technology, Tripeak is a great partner that can help you start a successful brokerage business or grow an existing business. We have the tools and the support to help you maximize your profits. Partner with one of the leading FX technology companies and let us help you grow.
If you have any questions at all please contact me: lfayman@Tripeak.com for more information