FX BACK OFFICE

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FX BACK OFFICE

Back office forex software needs to make it easier for you to run your brokerage. That means it should increase productivity and streamline complex processes. Forex software providers will all tell you that they have everything you need.

Before you sign-up for their services, you need to make sure they’re really offering comprehensive back-office functionality.

Forex back office software

Client profile management

Back office forex software should make it
easy to store and maintain clients’ information and personal data.
You should be able to create a new client profile quickly and make updates to it without much hassle.

Partner and IB management

If your forex firm works with introducing brokers (IBs), then your back office software needs to allow you to calculate
and pay partners commissions and rebates. It should also include partner tools so that IBs can help their own clients.

User access management

Back office forex software must include the ability to manage which actions different users can perform. Although you should have the ability to transfer funds for a client, not all administrators and partners need that ability for every client.

Reporting tools

Back office software for forex brokers should have simple reporting tools so that you can access data about the actions of clients, partners, and other administrators. The software should let you generate reports around trading activity, earnings and losses, deposit amounts, and CDF dividends.

Marketing tools

Back office forex software should include marketing tools that you and your IBs can both use. With the data from your reports, you should be able to see which clients are actively making trades and which ones have reduced their trading activity.

KYC management

Know Your Client (KYC) rules help prevent money laundering and are the most common regulations put in place by governmental financial authorities. Your forex firm’s back office software needs to include a KYC module for enforcing compliance procedures.

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