How To Launch As Successful Forex Business in the Pandemic
The Corona Shake-Up in Forex
The forex and finance industry is not seeing drastic losses associated with the pandemic, but the new reality forces a difference in our business approach.
After a few months of lockdown, what matters is the pace of return to normality to start making up for a lost time as soon as possible. Many people planning to open an online trading company, whether for CFDs or cryptocurrency or forex, had to postpone this decision or reconsider the current plan. With restricted meetings and challenges in setting up offices and revising the business plan.
The pandemic strongly influenced investors' behavior, especially in regions where establishing cooperation based on personal relationships is still dominating.
Brokers whose customers have been used to conventional offline deposits have also undergone significant changes. Although the crisis has bypassed the industry, many changes are needed for forex brokers to adjust to the new reality.
How To Make Your Forex Traders Stay
Established brokers are expanding their educational offerings and adding a range of new and unique features and resources.
Many consumers had to reassess their business plans. They have realized that the website, which they had previously viewed as an unnecessary addition, is now becoming a key element in attracting investors.
What You Need for the Future To Offer Forex
And I do not mean a generic template, but a professional website prepared by experts who understand the industry's specifics. Another issue is time. Startup brokers who want to take advantage of the natural increase in investor activity that comes after a downtime period must act quickly.
There are many solutions on the market that offer a quick setup of the trading platform. But they have their shortfalls. One of the most critical topics is the number and types of available investment platforms. The number of solutions that a broker offers can indicate the credibility of the brokerage house.
The platform should enable your clients to manage their trades from wherever they are, whenever they want. The trading platform should allow your clients to trade via web or desktop applications and IOS and Android apps. Applications for smartwatches and other wearable devices constitute another great area of opportunity. Popcorn Technology provides all the versions of the MT4 platform as well as its proprietary Web Trader.
- Internet platform
- desktop platform
- mobile platform
- MAC compatibility
- Web Trader
Spreads, Liquidity, and Payment Systems for Brokers
Many features can not be skipped, such as a payment system that guarantees easy deposits or offers liquidity for customer transactions on your trading platform. You can't operate an excellent online trading operation without that. The liquidity provider may be a corporation or entity that brings together brokers and prime brokerages. Liquidity companies maintain more excellent market stability and allow smaller brokers to hedge their risks.
Integrating payment solutions or finding a liquidity provider on your own takes time and increases costs, which can be a significant barrier for entrepreneurs investing in new business. Integrating third-party providers of analytics, education, news, and more takes time.
At Popcorn Technologies, we have changed our approach to the services we already offer, we have adapted to our clients' new requirements. We can help with all integrations and reporting regulations.
The Best "Out of the Box Solution" for Forex Trading
The Popcorn "out of the box" solution quickly and easily provides a broker everything needed to enter the forex or cryptocurrency markets. . You get an out of the box ready-made broker business solution with our advanced forex CRM, trading platforms from MT4, and our unique Web Trader.
To hasten the entire procedure, our highly trained professional staff will work with you every step of the way. Our CRM will speed up client onboarding and improve overall management. Already integrated Payment Gateways provide sufficient payments via all major credit and debit cards or wire transfers.
There is a lot to think about, including the new remote workplace environment. The online trading industry continues to boom during the pandemic, and those brokers who adjusted their business models quickly remain successful. Old ideas won't work in the new environment. It is time for a change. Popcorn is making those adjustments and platforms so that our products give you the very best for the future.Back to blog