UpTrader launches a flexible management system for partnership programs in the Forex CRM
UpTrader introduces a set of updates to Forex CRM, allowing for automated and in-depth work with partners. Brokers can now configure conditions individually for each partner, while partners will receive detailed reports on all payouts.
The team of UpTrader has enhanced the back office and the admin cabinet with a possibility to see the relationship between partners and clients (the feature shows whose client someone is). Partner links are generated automatically.
All new features added to Forex CRM are designed to help partners and brokers choose the optimal plan for each individual case.
Flexible payout settings for different instruments
This feature will be especially useful to brokers who offer a large number of trading instruments. Now, a separate partner payout plan can be implemented for each category of instruments, or a separate plan for each partner: for example, a fixed commission for the volume or a percentage of the spread.
Let’s look at an example:
A broker offers a wide selection of trading instruments: currency pairs, stock and energy CFDs. A reasonable commission for popular pairs with tight spreads (e.g. EUR/USD) would be a fixed $10 per lot so that the partners can easily recognize the advantage. The broker sets up this plan for the category of major currency pairs. At the same time, exotic pairs have large spreads that strongly vary from instrument to instrument, so the broker sets the commission at 30% of the spread for each individual trade. And as for CFDs, this value maybe 50% of the commission.
Another addition to CRM for forex is the new multilevel partnership program with an unlimited number of levels. Partners can now create networks of any depth, while brokers set reward conditions for each level individually. Partners can follow the growth of their network in the personal area and keep track of the clients of their sub-partners.
For example, a broker wants to create a multilevel referral network and reward partners for high performance and creation of their own networks by setting up rewards for every new level. The broker creates a three-level partnership network and set the following reward plan: the broker’s partners get 10% of the rewards of their first-level sub-partners and 7% of their second-level sub-partners’ rewards.
Partners have access to flexible settings of spread for their clients
Spread increase is very relevant to partners of brokers whose main income is based on commissions. The same plan is also useful to money managers who receive clients’ funds for management and earn from the spreads and commissions for the trades.
The brokers themselves can use CRM to cap the possible increase of service prices by their partners or disable this feature completely.
For example, with the broker’s consent, a partner sets up an extra commission in UpTrader CRM and larger spreads for their clients, while profit goes directly to the partner. If each party is satisfied with the commission, the partner continues the active operation, attracting more clients for the broker and ramping up the trading volumes. This scenario is favorable to each party: the broker gets large volumes, the partner—high commissions, the client—profitable trades.
About UpTrader Forex CRM
Over 10 years of experience with various brokerage CRM systems enabled the experts at UpTrader to analyze the best solutions out there and implement them together.
UpTrader Forex СRМ was developed specifically for brokerage firms taking into account the specifics of online retail services in Forex. The new CRM for forex is designed to speed up the task solving process and make the learning curve less steep for the staff. UpTrader Forex CRM includes the trader’s area, forex back office (interface for the company’s employees), admin cabinet with flexible access settings for the manager, additional functionality for the staff and clients.
UpTrader has resolved the core issues for traders and brokers that arose from other business solutions. However, the team doesn’t intend to stop here and rolls out regular updates, enhancing the system, each time expanding the systems with new features and capabilities.
For online companies, business has long stopped being about providing a local service for clients from a particular city or country. A successfully launched business cannot stay locked in one region for long, and if the owner thinks globally, they will act the same way. The main task of an international online business is to accept local payments. For example, in Indonesia, Help2Pay or Fasapay are popular payment systems, while in Namibia, only banks transfers are in use and they need banks details much more than they need payment systems. The more systems are integrated into your CRM, the more clients from different countries will be able to buy your service.
There are some companies on the market which provide payment management systems for CRMs. All you have to do is pay for a subscription, and the payment management module will be fully integrated into your CRM. The fee, however, may be quite high. UpTrader also provides this module, and it is already integrated into our CRM along with ready-to-use payment systems. We do not charge separately for it.
We have already integrated more than 50 payment systems into our CRM, and new ones are being added all the time.
UpTrader Pay settings
The module was tailored to the demands of Forex brokers, so it has a wide range of options. So, for your clients’ convenience, you can:
1. Set a country filter.
For example, you work with clients from Indonesia, South Africa, and Germany. You have more than 50 payment systems. Not all of them work for these clients. To avoid confusion, you can only show them options available in their country. UpTrader Pay lets you change the visibility settings to only show certain payment systems for customers registered in a particular country.
2. Set a rule for new and old clients.
For example, you work with payment systems that require meeting certain criteria for clients, such as successful KYC. Therefore you can set such a rule to show new clients certain payment systems that accept new clients but charge high commissions. As well you can show another bunch of payment systems for old clients with lower commicions.
3. Visa and Mastercard.
Only show Visa and Mastercard and automatically substitute payment systems depending on the country.
4. Set a filter by registration date.
For some companies, client registration date is important. For example, you would like to give a bonus to new clients, a commission refund or a deposit bonus when depositing through a certain payment system. You can set up this payment system to be visible only to clients with a certain registration date.
UpTrader Payment Management Value-adds
- No monthly fee
- More than 50 payment systems already integrated
- New payment system integration in 2 weeks
- Free integration of one payment system per month
- Country, deposit, registration date settings
- Fully integrated into UpTrader CRM
- User-friendly interface
We won't say much about why bonuses are so popular. The interest in them never fades. Every new broker launches some kind of a bonus system.
In UpTrader CRM, there are four types of ready-to-use bonuses: % on deposit, welcome bonus, % on balance, or monthly interest, and manual bonus. The settings for each of them allow you the flexibility to make them work for you.
There are 4 bonus types you can set up right away in UpTrader Forex CRM:
% on deposit
Deposit bonus is the most popular bonus type, since it is designed to encourage those who deposit the account. Everybody wins: the client does because they receive more benefits and trading opportunities, and the broker wins because they land a client who is truly ready to trade. Usually, the broker settles on the conditions and the bonus amount, for example, +50% to the deposit amount when depositing from $50 to $10,000. In the “conversion” field, the broker can specify the conditions under which the bonus funds can be converted to cash and become available for withdrawal.
A monthly interest bonus has also gained popularity because it helps build loyalty and encourages clients to stay with the broker longer and to keep more money in their accounts since it becomes more profitable to do that. For example, a broker can set a required minimum account balance for a certain day of the month. If the requirement is met, a client receives a bonus on the balance. The conditions for cashing the bonus are also set in the CRM.
The main rule for this bonus is that a client can only receive it once.A welcome bonus is a popular way to generate traffic. The best way to attract a lot of cheap traffic is to offer free money. But can you turn that traffic into clients? That remains to be seen.
The superpower of a manual bonus means that you can give it just like that. If a manager wants to give out a bonus, they can do it without setting any conditions. This is a very handy sales tool which often helps in the moment.
For each bonus, you can specify description and condition fields. Create your own conditions for bonus programs using our settings!
If any questions talk to our expert in live chat or emal us [email protected]
The main disadvantage of accepting payments in cryptocurrency is the lack of familiar interface. When paying by card or through a popular EPS (electronic payment systems), no special skills are required to transfer money, all the fields are familiar, processes are automated, crediting is predictable. Cryptocurrency payment is not a mass method yet, and often such payments are made manually, which is inconvenient both for clients and for the company.
The manual way of accepting cryptocurrency payments from brokers’ clients looks something like this:
1) A broker manually creates a payment system in the CRM and specifies in the description an address to which cryptocurrency needs to be transferred.
2) Before transferring money to the broker's wallet, clients need to create a request through this payment system in the CRM.
3) To process these requests, the broker needs to manually open their crypto wallet, check which of these requests are paid and for what amount, because clients can create a request for one amount but actually transfer another one. If the amounts are incorrect, the broker needs to correct them in the requests and then mark the requests as processed or failed (if the money was not transferred).
There are two problems with such a process: manual work and difficulty identifying payments. If a broker has a lot of clients, there can easily be a situation where, say, 2 clients created a $1,000 request around the same time, and only one $1,000 payment came in. It is impossible to identify which client sent that amount, you would have to contact the client to find out.
Manual control inevitably leads to human error, and more often than not such errors amount to more than one thousand dollars. On top of that, as we know, cryptocurrency transactions cannot be undone or disputed.
UpTrader offers its clients to automate cryptocurrency payment acceptance with a crypto gateway. Crypto gateway is a civilised automated way of making cryptopayments with a user-friendly interface that eliminates human error, simplifies the finance department’s work and client transfers.
How UpTrader's crypto gateway works:
1) UpTrader’s crypto gateway has a simple API and easily integrates into any CRM.
2) A unique wallet is created for and associated with each CRM client who requests a crypto deposit. That is, only this client gets this wallet, and the wallet remains the same between different requests, so that the client does not get confused.
3) After that, our crypto gateway traces when money arrives to this wallet and sends data about incoming payments to the CRM which automatically processes requests and corrects amounts.
If cryptocurrency payments happen from time to time in your company and you anticipate an increase in them, take care of automation in advance in order not to run into problems in the future.
To get more information, mail us to: [email protected] or write us in online chat.
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