Wishing you a Happy New Year and following the tradition, we are now looking back on the work the UpTrader team did in 2022 and making plans for the future. The year itself was turbulent and brought even more uncertainty into the world than the pandemic. Financial markets continue to react to events in spurts and financial institutions, brokers, and traders continue to make and lose money on these reactions. Meanwhile, the UpTrader team has been working hard to implement new and improve existing Forex CRM features all year long to provide brokerage firms with the best customer service system possible!
The motto for 2022 has been "less is better".
The team focused on improving the existing features and the stability of our flagship product, UpTrader Forex CRM. Here is a list of features we would like to highlight:
The copytrading service in UpTrader Invest was partly reworked, and its stability has significantly improved. We also implemented all the features that were included in the product architecture. It should be mentioned that copy trading is very popular with newcomers on financial markets because it allows you to get good trading results by copying from experienced traders.
Improving customer support is one of our top priorities. We have already done a lot of work to improve the interaction between our technical support and clients by launching a unified support portal. We have improved on communication channels, time to response, and ticket processing speed, and made the processes as transparent and predictable as possible. The feedback from clients is extremely positive, but we would still like to work on certain aspects until they are perfect. Working on them is part of our plans for next year.
Integration with cTrader
The second most popular trading platform after MetaTrader, cTrader, is now integrated with UpTrader CRM. We are very happy to see that more and more brokers are choosing to work with cTrader. First, variety is good. Second, cTrader's policy is to keep order execution transparency under control. They keep execution records and allow traders to view them. It is impossible to manipulate prices because they do not allow editing the databases. We think that the desire for transparency is a positive market trend.
In addition, the UpTrader team has done a lot of preparations for the launch of big and even sensational services next year. Here is a brief announcement of the expected releases.
Free UpTrader Forex CRM Installation
The idea behind this service is based on the best current practices and an obvious market need. At the moment, there is no other CRM for Forex brokers on the market that integrates the CRM with your website without a team of developers setting it up. We decided to tackle this problem. Next year, UpTrader clients will be able to install Forex CRM themselves for free in just a few steps. Thanks to this service, brokers who already have a website and MetaTrader will be able to instantly launch the CRM. The brokers could test core CRM features without any fee as well as accept and serve new clients right away.
The development of the sales module is almost completed. Next year, we will be able to offer brokers a multi-functional module tailored to the specific needs of the Forex broker's sales department. It will have a very convenient lead distribution and matching panel as well as detailed client profiles. The module includes a well-thought-out lead distribution system, user-friendly interfaces, sales department performance management system, client history archive and much more.
Brokers want to protect their clients from any risks associated with their accounts as much as possible. To do this, they often want to introduce additional security in the form of two-factor authentication. It is an extra layer of security which ensures that only the client can access their account even if someone else got ahold of their password.
Stay tuned for more news, and don't miss the most interesting releases!
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.
We continue to write about different UpTrader CRM features which will help you improve your business processes and increase your clients' satisfaction. Previously we covered Wallet, Withdrawal control and approval system, and Market Analytics Feed, and today we will tell you about the Status System.
What is a status system?
It is a configurable system that allows you to assign statuses to clients who fulfill certain conditions (deposits, KYC compliance, etc.) or fall into a certain category (country of registration, language, trading account type, etc.). The status system allows you to segment your clients based on parameters that are important to you and to build up the work with each segment in its own way.
What does the system look like?
All client interface pages show the current status of the user as a progress bar. By default, the progress bar is set on minimum values. However, if certain conditions are met, the progress bar starts filling up and the name of the current status changes. If a client wants to know the details of their status, they can click on the status and read what it means.
What could be the rules for assigning statuses?
You can think of any names: VIP, Standard, Base; Gold, Silver, Platinum, etc. You can set any rules for status assignment. For instance, you could treat clients whose deposits are higher than 10K in a special way. You decide then that these clients will be your VIPs and introduce certain special conditions for them. For example, no-commission deposits or deposit bonuses.
In terms of settings, you can either assign statuses manually via back office or define custom rules. For instance, clients with a deposit over 10K get a certain status, and then it will be assigned automatically when they meet this condition. If at the same time you want to give out bonuses to such clients, you can set up the same rules in the bonus system. Users can receive benefits either manually or automatically, depending on your policy.
Use the status system as an onboarding tool
You do not need to use the status system as a marketing tool. You can also make it a part of your onboarding when your clients go through KYC, from registration to trade. For example, you can tie the status system to document verification, and each document will bring the client closer to trade, which will be reflected in their status. The KYC process itself can be long, and the statuses can provide transparency and reassure the client.
Do I have to assign statuses to clients?
None of this is necessary for a broker's work, but these little things tend to increase customer loyalty, introduce an element of gamification, and generally create a positive image of the broker.
Come up with your own special status system, and delight your clients with new features.
If any questions, please mail us to [email protected] or leave a request in online chat.
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