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Why Your Forex Brokerage Needs a Social Trading Platform

Investing in the stock market can be one of the quickest ways to grow your money exponentially, and this remains a dream for many who lack the necessary skills. 

A stock market is a risky place, even when things are going in the right direction.

In order to become a successful trader, irrespective of what you’re dealing with, be it stocks, shares, currencies, forex or crypto, you need skills and strategies. This isn’t enough, you also need in-depth knowledge of the financial markets, current affairs, business trends, and the ability to forecast the future drifts across various economies.

Now, if you already own a forex brokerage or are planning to start your own forex brokerage, chances are most of your customers will lack these skills.

Basically, this means when your customers lack this capacity, they’re more likely to refrain from investing large sums into the stock market, thereby eating into the potential profits your brokerage could be making. This is where the copy trading tool comes to play!

What exactly is Social Trading?

Social trading has gathered several other popular names over the last decade, such as copy trading, mirror trading, auto trading, etc. which all basically mean the same.

Social trading as the name suggests is extremely similar to a social network like Facebook or Quora, except here the objective clearly is to share trading ideas and discuss economic trends and so on instead of pictures and personal stories.

A social trader is a platform for various traders to interact with each other, watch trading results of other traders and discuss market conditions in real-time. Here, the beginners and professional traders share their ideas and copy each other’s trade strategies.

This form of dealing enables amateur traders to copy and implement the strategies of more experienced traders. While seasoned traders carry out their own technical analysis, a large number of beginners observe and replicate the analysis of their peers.

This allows traders with little or zero-knowledge to continue trading with the help of the community. This makes a social trader or a copy trader a revolutionary tool and one of the most eminent discoveries in the history of financial technology.

What are the benefits of Social Trading?

Here are some of the key benefits worth stating.

1. Earn while you learn

A copy trader is a great place to learn everything about trading for a new trader. There are significant benefits such as being able to utilize the knowledge of experienced traders to make winning deals in the live market from day one.

All the combined learning that happens during social trading can help beginners grow into confident traders capable of creating their own strategies. Such experience will enable a good eye for detail and apply these skills in the future.  Plus, you’re learning efficiently and quickly while not waiting it out to start earning.

2. Save time

Most beginners new to trading use social trader’s copy feature, this also means the trader doesn’t have to allocate days or weeks for the technical analysis.

Also, constantly monitoring the current events and market moves is a time-consuming activity, this is another area where an average trader can save time, yet make the income he desires. For instance, if one chooses to copy a professional trader’s moves, every time a new investment is made by the pro, a similar deal will be placed from the copier’s end.

Having said that, it is no doubt risky to give away access to your investments like this to a third party, but this is always under full control. We’ll discuss this in our next point.

3. Make informed decisions

One of the key features of a social trader is that it searches for reliable trading information by bringing expert traders from all over the world. Additionally, the ability to interact with these skilled traders is a bonus.

On the other hand, the compensation given to professional traders for sharing their strategies is often rewarded with both money, fame and positioning. Almost all social trading platforms have a dashboard showcasing the popularity and success rate of each of these professionals.

Therefore, the decision to copy an expert strategy is completely unbiased and is solely made by the trader himself.

4. Save the stress

One of the most common symptoms within the trading community is the stress involved. With all the quick money that comes in, it brings its own share of stress and anxiety. A social trader helps even the most skilful trader take a step back when they feel too overwhelmed.

For instance, trading styles such as day trading demand complete attention and focus which causes a great deal of stress. In such cases, a trader can choose to copy trades from the top trader bases on his/her success rate.

5. Gain exposure

Social trading is a great platform to meet and interact with fellow traders. That also means you’re part of the community that will not just help you to understand the trading world better but also earn bigger.

On the other hand, mastering several geographies, markets or assets is super complicated and takes years of trading experience in real-time. Even the most accomplished trader may not be confident trading across all the markets, geographies or assets.

These are instances when seasoned traders enter newer markets with the help of a copy trader.

Final word

These are some of the reasons why your forex brokerage must include social trading as part of your offering. However, the most important benefit of adding a social trader to your trading suite is to attract new customers. Sanfrix has helped several other brokerages double their profits by simply adding the right tools to their offering. Sounds too good to be true? Request a free demo today!

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MT4 vs MT5: Which MetaTrader Trading Platform is better for your Forex Brokerage

MetaQuotes is a leading software development company that builds trading platforms and other applications for brokerages, banks, and exchanges.

They’ve also dominated the Forex & CFD trading space for over a decade with their popular products such as FX Charts and MetaTrader 4, popularly known as MT4.

This is because MT4 is the most sought after forex trading platform and has set a certain level of standard among the traders.

A few years ago, Metaquotes released MetaTrader5 typically referred to as MT5 which is a successor of MT4 with additional timeframes, features, and advantages.  However, MT5 is not literally an upgrade of MT4, because the latter was mainly developed for forex trading, whereas, MT5 was designed to provide access to CFDs, stocks, and futures in addition to forex.

Despite this, there’s always a question about which one of these platforms is better. Let’s do a quick rundown of the differences between each of these platforms.

Programming Language

MT5 uses a different programming language when compared to MT4. MT5 uses MQL5 whereas MT4 used MQL4.

Initially, the MQL5 language was the only framework that made it convenient for individuals to use trading robots and many expert advisors, however, MetaQuotes made this future accessible to MT4 users a few years ago.

Therefore, this is no longer a difference. Having said that, there’s a very good chance that any future upgrades may not be extended to MT4 or MT5.

Exposure to Financial Markets

Originally, MT4 was designed to carry out transactions across the Forex market alone, however, with many brokers adopting various other instruments, MT4 inevitably expanded.

MT5, on the other hand, was developed with the intention to support all the major markets including stocks, futures and FX trading instruments. Additionally, MT5 supports unlimited symbols while MT4 has a maximum cap of 1024 symbols.

Trading & Orders

One of the common, day to day problem most traders face with MT5 is that their orders are aggregated while they’re dealing with multiple orders of the same asset.

On the other hand, users are far more comfortable using an MT4 as each order is shown separately even if they’re working with multiple orders of the same asset.

Pending orders simply refer to the ability to buy or sell an asset a predefined price in the future. As far as MT4 is concerned, it has four order types available, namely: buy stop, buy limit, sell limit and sell stop, whereas MT5 offers six order types: buy stop limit, sell stop limit, in addition to the four offered in MT4.

Analysis & Charting Capabilities

Both MetaTrader4 and MetaTrader 5 is known for its amazing charting capabilities.

MT4 comes with a default library of 30 technical indicators and 31 graphical objects, 2000 + free custom indicators, additional paid indicators and 9 timeframes to choose from varying from as short as 1-minute charts to as long as monthly charts.

MT5, on the other hand,  offers 38 built-in technical indicators, 44 graphical objects, that can be easily applied to 21 different timeframes. In addition to the ordinary timeframes, MT5 offers two, eight and 12-hour charts that may be useful for many day traders.

Both platforms offer the most popular tools such as Relative Strength Index, Stochastics and Bollinger Bands, Fibonacci and Elliot wave drawing tools.

Which is a better Trading Platform?

This is entirely traders dependent.  While MT5 definitely has some additional features when compared to MT4, it may appear to be complex to amateur or new traders. Therefore, the ones that are relatively new to trading may find MT4 straightforward and easy to use,

In such scenarios, MT4 becomes an obvious choice.

However, if your customers are avid traders who may find use in the additional tools offered in MT5, then MetTrader5 is worth considering.

It is important to note that the most widely used platform globally is MetaTrader4  / MT4.

Sanfrix offers Whitelabel options for both MT4 and MT5 that can be customized to your brand name, logo and more. Additionally, we also offer other tools that are necessary to get your brokerage started such as the Forex CRM and back-office set up.

Get a free demo today to understand the options available to you. Also, don’t forget to ask about other tools that bring 10x profits to your brokerages such as the Risk Manager and Copy Trader.

Speak to our senior consultant today!

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Online Marketing Strategies for New Forex Brokerages

The fact that the forex industry is an enormous one with global participation is obviously evident to you if you have clicked on a title such as this.

Maybe you’ve already set up a forex trading brokerage and are looking for marketing strategies OR are doing your research before delving into the world of forex trading brokerages. If you belong to the latter category, we have several other articles you might want to glance through, just to ensure you haven’t missed anything in your research so far.

Now, without wasting any more time let’s get straight down to creating a checklist of items that are part of all top forex strategies.

Search Engine Optimization (SEO):

As with most online businesses, your website is the face of your business. We cannot stress the importance of ensuring that this is optimized for search engines right from the start. The crucial role SEO plays in driving convertible leads to your website is an obvious one in today’s world.

The team that sets up your website should have an SEO expert who understands the forex business and should be able to work on your website from an angle that does not miss any of the basic SEO specific to the forex brokerage business.

All of this becomes much easier if you are using an industry expert such as Sanfrix to build your website as they have tried and tested ways of doing exactly what you need. You only need to brief them on your preferences and you can sit back and watch them work their magic!

Blog Posting:

One of the most effective ways to attract the right audience and impress them with your knowledge while simultaneously helping your SEO cause is Blog Posting

While it’s not a bad idea to have a standalone blog on the how-to, what-to, and what’s happening of the forex trading industry that leads customers to your website, it might be a better idea to have this as a part of your website itself.

Apart from having the usual blogs on ‘how to start trading’ and ‘what to look for in a forex brokerage’ and so on, it is important that you have informative content on your blog post that not only educate your audience, but also keep them updated with the current affairs in the market. Ensuring that all your posts are relevant to your audience (the average forex trader) and that they speak clearly is extremely important if you want to build a loyal audience that considers your blog page a relevant source of information they want to return to.

Social Media Marketing:

The importance of social media in today’s world is one that doesn’t require an explanation. Nevertheless, to point out the obvious, this is where most of the world (including your forex trader) spends a decent amount of their time.

Creating a strong social media presence is key to building a community that looks forward to your updates. Your goal should be to provide a combination of useful relevant updates, how-to tips, access to forex influencers, and solutions to their queries about trading. This way you will add value to their life by influencing their trading decisions positively, making them come back to you for more, follow you with keen interest and even refer you to their friends

Forex Trading Education:

The one thing that all new/amateur traders and many of even the experienced traders need is continuous education on forex trading. Your educational offering should ideally cover not just how to trade and what to look for, but also forecasts and other trading signals that are helpful to traders at every level.

The current trend of detailed tutorials provides for a huge opportunity of building a community of traders that relies on your information to help them achieve experience and eventually success in their trading lives.

You can have short webinars or complete courses. Maybe crash courses or even quick live sessions on social media platforms such as Facebook Live or Instagram live. You can then lead the participants to a group where they get privileged to follow up information because they attended your course, webinar, or any other live/recorded session.

If you have put enough time and effort on the social media platforms as we asked you to in the previous section, you will already have a forum where you can create forex learning groups and promote conversations between your existing customers and add in a touch of expertise from forex influencers to the mix.

Once you have built a strong forex educational offering using the above information, you then have essentially generated leads that your marketing team can convert into customers by creating the perfect offers.

Social Trader / Copy Trader tool:

Building further on the previous segment, offering a tool that allows the amateur trader to make the best possible decisions will only add value to your offering as a brokerage. A Social Trader or Copy Trader is one such tool.

The Social trader tool essentially allows your customer to choose from a list of traders who are deemed successful and copy their trades, literally learning the ‘tricks of the trade’ in the process. The process is made convenient by providing your customers with access to interactions between active forex traders in real-time. The Sanfrix Social Trader also automates the process of copying every time a signal is generated by the trader/s they have decided to copy.

Though your client might start with copying trading strategies that show the best results, with enough time and an eye for detail they will eventually grow into confident traders who are able to create and use strategies of their own with the combined knowledge of all the expert traders they have been copying.

The availability of this technology not only makes your brokerage more appealing to new traders but also creates a community of loyal traders who owe their success in the forex trading business to you.

Affiliate Marketing and Loyalty Programs:

We have clubbed affiliate marketing and loyalty programs as both of them essentially work on commissions.

With affiliate marketing, the idea is to build a network of affiliates who can send potential traders your way. These can be forex influencers, technology providers, and even content creators. The better your commission, the more customers they will send your way.

You can also have these affiliates connect with you with more such affiliates and expand your marketing possibilities by offering yet another small commission to your existing affiliates.

Coming to loyalty programs, though your customers might be happy and are loyal to you as a brokerage, loyalty programs that offer a bonus can be the extra push they need to start bringing in more clients to your business and taking on the role of a brand advocate. Let’s face it, the average Joe might not even care to tell his friend where he makes money unless there is something in it for him.

Most MetaTrader platforms come with a built-in loyalty program or functionality which assigns bonuses to successful traders and distributing agents. With the help of a technology provider like Sanfrix, you can customize and build in a range of bonuses from registration, to deposit, to trading and referral bonuses.

If this is not a brilliant marketing technique, then what is?

This pretty much sums up all of the things you should have in your checklist for a successful online marketing strategy for your forex brokerage. Get in touch with us now, for the complete package!

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The Forex brokerage industry today is very tightly governed and regulated by countries across the globe.

Regulatory requirements are becoming stringent by the day, making it difficult for forex brokerages to enter new regions. Though this might be looked at as an inconvenience to the aspiring forex broker, it is something that puts not just the expert traders, but also the ends trader at ease.

That being said, we would like to mention that there still are some regions where you can enter easily. But if you want to enter those regions and how you want to present yourself is the most important part of any FX brokerage plan.

Company Incorporation is the first step to get your forex brokerage going. This procedure establishes that yours is a legal forex trading firm authorized to carry out monetary transactions.

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We assume you already have an understanding of what a client cabinet is and want to now know what to look for in an ideal one.

To give you a better understanding, let’s explain the concept of a client cabinet or Forex trader’s room from a layman’s perspective.

The best way to look at it is like an online office space. Whether you want to make it space where your customers enjoy working or one that makes them feel homesick and head for the door, is the call you have to take. This is the basic question you have to ask yourself while designing or acquiring your client cabinet or trader’s room.

Taking the office space example a step further, let’s look at the best and worst-case scenarios. for more visit here 

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7 Things to Look for while choosing The Right Fx Liquidity Provider | Sanfrix

A quick checklist to understand the parameters before choosing an LP. The most important factors to consider such as pricing, efficiency, speed, technology and more. "For more details, get in touch with us Our solutions: - Forex Broker Turnkey - MT4/MT5 White Label - Web & Mobile Trader - Multi Terminal Manager - Forex & CFD Liquidity - Forex CRM & Back-office - Trader's Room / Client Cabinet - Payment Gateway Solutions & Integration - Risk Manager - Copy Trader / Social Trader - Company Incorporation & Brokerage Licensing ════════════════════════════════════ Email: sales@sanfrix.com WhatsApp: +65 9860 7215 

Skype: sales.sanfrix 

 Request a free consultation today: http://bit.ly/2lBpqsC ════════════════════════════════════ 

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Forex Whitelabel VS Greylabel – What’s the difference?

If you are looking at this article, then you’re probably already at a level where you understand that setting up your own independent brokerage with an in-house platform and your own version of software like Metatrader is not just extremely expensive, but very tedious.

Now, before figuring out the best way to launch your forex business without said costs and hassles, let us understand the three options available.

1. Introducing Broker (IB) is essentially a firm or individual that partners with a primary broker with an agreement to solicit clients for the latter. This a commission-based relationship where the Introducing Broker (IB) as the name suggests simply introduces traders to the primary broker who in turn pays the IB either in the form of a flat fee per client or spread sharing for as long as the clients introduced by the IB keeps trading with the primary broker.

The process of applying for and setting up an IB is simple. Fill up an IB application with the primary broker, get your unique Introducing broker ID, reference links, promotional materials and you are good to go.

2. Grey Label is a more economical version of a White Label. This solution is more for startups who might not want to make a huge investment just yet. In this arrangement, you obtain the Grey Label license from a Whitelabel broker and the branding of the Grey label broker is separate from that of the technology provider (Whitelabel provider).

Though this is the more cost-efficient way of launching your new forex business, the downside of users being confused with two different brands will always be an issue when it comes to brand recognition and loyalty. Moreover, apart from the monthly fee or commission paid to the MT4/MT5 WhiteLabel solutions provider, there will eventually be a cost and hassle involved with the transition to a White Label at some point. Not to mention, the dependability on them for all your technology needs, glitches, and downtime.

However, when compared to an introducing broker (IB), it does offer some additional benefits in terms of control over the client groups and relationships, allowing you to manage the spreads and leverage of your clients and also their deposits and withdrawals.

3. White Label is the ability to use the software (MT4/MT5, Web Trader or a Mobile Trader) and put your own branding on it. This solution is ideal for experienced individuals or firms who want to become forex brokers and create their own brand in the forex trading industry.

White Label solutions allow the end-user to identify with the platform as one that is owned by you and might even give the impression that it is developed by you (though that is not the case). The end-users associate all their activities with your brand and give you credit for making their transactions possible, ensuring brand recognition and loyalty.

A White Label solution is the complete package with end to end technology that can be customized based on your requirements. It is the fastest way to get your forex brokerage business up and running. You also avoid huge costs and time of setting up, testing and going live (a hundred thousand dollars and a year in most cases). Also, running a full-scale forex business model involves other complications such as licensing and putting the technology together. The White Label format allows you to gain an in-depth understanding of the entire business and prepares you for the day you have enough capital to set up and run your own independent brokerage.

Compared to a Grey Label solution, White Label also offers you a larger degree of control over your business and clients.

Now that we’ve understood the basics of the three options available to anyone looking to launch a forex business, let’s relook at the reason we are here in the first place to further understand the best option for you.

If you recall, the reason we are looking at these options is mainly the cost involved with creating your own independent brokerage. Though the hassles of licensing and incorporation is also a big reason, the cost factor definitely takes the cake. With this in mind, let us now figure out the best option.

Though the Introducing Broker option is cost-effective, the existence of Grey Label rules out the IB option for most. However, it is worth looking at if you’re someone who does not want to spend much time on this business, but have contacts at your disposal which you might as well leverage by introducing them to someone who runs an Fx brokerage and gives you a cut.

Moving on, the Grey Label option as we previously established is probably the more cost-efficient way of launching a new forex business. That being said, we wouldn’t be wrong in assuming that you as an entrepreneur understand that the cost of launching or setting up is only the beginning.

What matters and should weigh into your decision are the ongoing costs such as commissions and maintenance fees. With a Grey Label having a much lower set up cost than a White Label, the commissions are usually high when compared to the commissions and maintenance fees of a White Label. Also, the fact that with a White Label, you are already recognized as a brand that offers end to end solutions makes a huge difference and eliminates the transitional cost that comes with a Grey Label wanting to scale up at some point.

With all this information, there still is a dilemma as most White Label solutions not only have a huge setup fee and a monthly maintenance fee but also charge a commission on spreads. This is where we come in.

With a White Label solution like ours at Sanfrix, there are no commissions or hidden costs on your trading volumes. The setup fee and monthly maintenance fees are the only charges involved. Apart from the assurance of uninterrupted and secure trading, we also offer a fully tailored solution including hosting and connectivity. Additionally, we specialize in developing custom plugins that are fully compatible with MT4/MT5 servers.

We also offer free CSO-as-a-service. Yes, you read that right, our dedicated Chief Success Officer will not just be your strategic consultant, but will also offer continued 24/6 support for all your operational needs. Don’t just take our word for it, ask any of our customers who have been with us for years for the very same reasons. Go on, request a demo or book a free consultation today!