I think it’s astonishing that only about 20% of brokers use business intelligence software to gain a complete real-time overview of their trading operations.
There’s so much data in a brokerage that there’s no way a human can analyse it quickly enough to have a real-time sense of any impending issues, opportunities to make more money or reduce risk. How can they plan agile strategies when they can’t see the key metrics that are driving their trading business?
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Growth and Opportunities
Brokers lacking this intelligence are really missing out on significant growth opportunities. Without a complete overview of the business at any given time, they can’t have a comprehensive picture of their up-to-the-minute P&L, exposure risk or client trading profiles. How can they monitor and remove toxic clients and spot unwanted scalpers before they have a detrimental impact on the brokerage’s profit? How can they quickly and effectively work out which clients should be A-booked and which should be B-booked?
We are no doubt in this situation because historically, business intelligence tools for MT4 brokers either didn’t exist, were prohibitively expensive or difficult to use. They were not an option for most brokers. Nowadays, out-of-the-box business intelligence exists – it is accessible, simple to use and fully integrated with MT4. It should be considered a standard tool for all brokers worldwide – not as an optional extra for forward thinking brokers.
We need a shift in attitude in this industry to stop brokers from ‘giving away’ money that they could so easily avoid losing if they had more business intelligence at their fingertips. Why wouldn’t a broker want to make more money?