Trading Room software: Back Office, Trader’s Personal Area, Crypto Wallets & Fiat Payment Systems

One of the most significant barriers to clients depositing money is a complicated or lengthy process for funding their accounts. Connecting your back office software to external payment systems (like credit card processors, crypto-currency wallets, and bank transfers) reduces the length of time it takes for deposits to be credited to client accounts. 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. It should let you upload and store documents to confirm clients’ identities. Look for software that lets you specify an expiration date so you know when new documentation is needed.

As an industry-leading Forex CRM provider, our innovative solution allows Forex Brokers to push their business forward with a tailored system that is easy to use and works in harmony with different components. According to your requirements, you need to assess the following factors of the providers before purchasing from one of them. It is absolutely compulsory for the functional back office to have the feature where the activities and accesses of different users can be controlled. You can customize the partners’ access of the back office according to your preference, ensuring you have the full control. The user interface should be simple and clear with an organized view of clients’ trading experience, stats, and other important details.

  • To ensure this, the broker collects upfront margin by way of funds/ shares from the client and deposits the same with the exchange.
  • Each trader can become a partner and connect other partners to the network to trade and receive commissions from the spread difference.
  • This Forex Back Office works perfectly with our Trader’s Room and offers you the best combination.
  • The day-to-day operational tasks need to be handled with speed and accuracy.

Syntellicore is a powerful CRM and Back Office system developed for Forex Brokerages and Financial Organisations who are dedicated to offering a higher level of Customer and Partner Experience. Syntellicore is integrated with an intuitive Trader’s Room, it can be customised to match the Broker’s exact business model and optimised to match existing complex procedures through a user friendly approach. Centralised log collection and storage to cover every interaction with clients and prospects.

Syntellicore is embedded with a rich selection of approved automated Document, Name, ID, Address, Date of Birth, Face, and AML verification. You now have the option to keep critical customer data in a secure environment and with a trusted vendor within your premises or on our highest security hosted environment. Dynamic Works is certified with ISO9001 and ISO27001 for Information Security. Purchasing the right back office platform helps future proof your brokerage. Equity Shares represents the form of fractional ownership in a business venture.

Back office forex software must include the ability to
manage which actions different users can perform. In this part, we gather common questions about Forex back office trading software providers. Usually, traders have many back office-related questions and here we assist in that. Forex back office software allows you to systematize and organize all the necessary information that comes from the stage of registering user accounts and ending with trading on the market. Being an important element of many Forex CRM systems, the back office provides a great advantage for brokers who have a large client base and wish to manage it effectively. This system allows you to conduct a comprehensive assessment of the behavior of each individual user and identify suspicious activity that does not correspond to the cluster of his behavior.

Statement giving broker-wise summary of deals put through during the month and brokerage payable to each broker are generated on computer/prepared manually at the end of each month. It monitors each day’s receipts and payments of foreign funds and counter values and undertakes reconciliation of interbank trans­actions. Time, money and experience are the three key things you need in order for your business to boom. You may be sitting there thinking ‘but I have all these things, (or the company I work for has all these things) time, money, and experienced employees, so I/we must be doing quite well’ – WRONG.

Smarter KYC

Securities for settlement by the banks outside the NDS-CCIL system are not being entertained by Reserve Bank of India since that date. Before issue of SGL transfer forms covering the sale transactions, back office should ensure that they have suffi­cient balance in the respective securities in the SGL accounts. The back office obtains independent confirmation of each and every deal from the counter party and settles the deal only if it is within the exposure limits allowed for the counter party. There should be proper co-ordination between the back office and dealing room. This revolves around proper monitoring of the day light limits, overnight limits, counterparty bank limits, country limits etc. Cases where these limits are exceeded should be studied, reasons for exceeding the limits should be ascertained from the dealers and should be reported to the Top Management without delay.

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. Allowing partners to directly access your software will make it easier for them to do their jobs, and using the software to ensure they’re paid the correct amount will help you retain good IBs.

As an experienced Forex CRM provider, we have created a system that can be used by main labels, white labels and grey labels alike and can be run plug-in free, with full integration with leading Forex trading platforms. Throughout
your search for the perfect crm provider, you’ve probably identified the key
players and chosen your top three or four, us being one of them. Some back office software for brokerages, like CurrentBusiness, allows you to automate this process. You enter the symbol with the dividend and then the system can automatically calculate positions and issue charges/payments at the time you determine. To maximize the potential of forex back office software, ensure you deeply understand the available and beneficial features for brokerage. Back office technologies support complex data management solutions and processes while allowing companies to spend as fewer as possible and maximize efficiency.

In other cases, when information isn’t documented, employees may have to go back to the client later to get essential details, or they might do work that isn’t necessary. Request a private session with one of our sales representatives and learn how we can help you grow and optimize your business. See yourself how some of your everyday routines can be handled by BrokerTools’ forex Back Office.

Trader makes deposit to his/her account

Seek providers that offer prices in accordance with the tools you need to use or the number of active traders you have as clients. This will help you immensely in saving money and prevents excessive expenditures as you do not have to pay for features you do not need. It is ideal to go for the back-office software that provides you complete access to trading details such as consolidated customer balances, customer transactions, open trade, running trade, closed trade, etc. The integration of MT4/5 will ensure the smooth and efficient running of your brokerage. Forex Back office software should have straightforward and uncomplicated reporting tools so that you can retrieve data about the activities of administrators, partners, and clients. The software should be able to produce important reports regarding trading activities, earnings and losses, deposits, etc.

For example, it can be more efficient for a company to outsource all IT-related operations instead of going through the process of hiring employees and creating an in-house tech team. Since third-party organizations specialize in only one aspect of the operations, they are generally better at their job than in-house teams. Outsourcing Back Office responsibilities also allow companies to save money on rent and utilities that an in-house team would require. The reports will aid you in detecting the best market and keeping the existing clients engaged.

Trading on the stock exchanges operates parallel to the present system of trading in government securities. The trades concluded on the exchanges will be cleared by their respective clearing corporations/clearing houses. These are just some of the benefits of using our CRM which helps you to easily manage your day to day activities. 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. Trader’s Room is a unifying power that provides you clear monitoring of money flows —
every financial service and every payment system connected in a single Forex platform back office interface.