Seminars with clients are not possible during the pandemic. FX/CFD brokers are forced to use other tools
For a very long time, Forex education including live seminars, was a very successful tool for client acquisition, building a connection with customers, and possibly acquiring introducing brokers. This was especially in areas where financial literacy was relatively lower than in most of the developed markets. The COVID-19 pandemic forced restrictions, such as social distancing and being confined to our quarters. How do these factors influence seminar-based sales strategies of the FX/CFD brokers, and what can they do now to succeed?
The COVID-19 pandemic has changed everything. Since we avoid meeting our clients directly, we conduct most of our business online. This has created a problem for sales departments among FX/CFD brokers. For many years, the education provided to potential clients during seminars was one of the most effective methods of onboarding.
While this is not the only method used by FX/CFD brokers, it was one of the more important and effective tools, especially in specific regions of the globe.
To understand how big and popular this method of contact was with customers, Finance Magnates Intelligence conducted research into the topic. Our findings suggest that forex education is the most popular in emerging markets. Additionally, it is most widely used by Russian and Asian brokers, but it is not limited to them. For example, in 2019, FBS hosted 74 educational seminars; a number of seminars were hosted in Asia. Another popular Hosting country for the seminars was Brazil.
In an interview with Finance Magnates, Nicholas Baumer, Chief Marketing Officer at Tickmill, reminds how important trading seminars are to the bigger picture: “The role of trading seminars in the industry has been multifold. Not only do seminars help to acquire new clients, but they also contribute to building connections and trust with both prospective and existing clients. Since the nature of the online brokerage business is almost completely online, and most operations including Marketing, Back Office, and Client Support operate digitally, the human touch is inevitably minimal. Seminars, therefore, provide a great opportunity for brokers to physically meet local traders in a certain region, listen to their feedback, exchange ideas, build up brand awareness with them and discuss their needs.”
If There Are No Seminars, What Is Left for Forex Education?
Because of the COVID-19 pandemic, the vast majority of the brokers have stopped organizing educational seminars. One of the brokers wrote on its website: “Due to Covid-19, our priority is the safety of you and our team, we have therefore suspended all our seminars until further notice.” But, if there are no face to face seminars, what can replace them?
To get the full article and the bigger-picture on forex education during the pandemic, get our latest Quarterly Intelligence Report.
For a very long time, Forex education including live seminars, was a very successful tool for client acquisition, building a connection with customers, and possibly acquiring introducing brokers. This was especially in areas where financial literacy was relatively lower than in most of the developed markets. The COVID-19 pandemic forced restrictions, such as social distancing and being confined to our quarters. How do these factors influence seminar-based sales strategies of the FX/CFD brokers, and what can they do now to succeed?
The COVID-19 pandemic has changed everything. Since we avoid meeting our clients directly, we conduct most of our business online. This has created a problem for sales departments among FX/CFD brokers. For many years, the education provided to potential clients during seminars was one of the most effective methods of onboarding.
While this is not the only method used by FX/CFD brokers, it was one of the more important and effective tools, especially in specific regions of the globe.
To understand how big and popular this method of contact was with customers, Finance Magnates Intelligence conducted research into the topic. Our findings suggest that forex education is the most popular in emerging markets. Additionally, it is most widely used by Russian and Asian brokers, but it is not limited to them. For example, in 2019, FBS hosted 74 educational seminars; a number of seminars were hosted in Asia. Another popular Hosting country for the seminars was Brazil.
In an interview with Finance Magnates, Nicholas Baumer, Chief Marketing Officer at Tickmill, reminds how important trading seminars are to the bigger picture: “The role of trading seminars in the industry has been multifold. Not only do seminars help to acquire new clients, but they also contribute to building connections and trust with both prospective and existing clients. Since the nature of the online brokerage business is almost completely online, and most operations including Marketing, Back Office, and Client Support operate digitally, the human touch is inevitably minimal. Seminars, therefore, provide a great opportunity for brokers to physically meet local traders in a certain region, listen to their feedback, exchange ideas, build up brand awareness with them and discuss their needs.”
If There Are No Seminars, What Is Left for Forex Education?
Because of the COVID-19 pandemic, the vast majority of the brokers have stopped organizing educational seminars. One of the brokers wrote on its website: “Due to Covid-19, our priority is the safety of you and our team, we have therefore suspended all our seminars until further notice.” But, if there are no face to face seminars, what can replace them?
To get the full article and the bigger-picture on forex education during the pandemic, get our latest Quarterly Intelligence Report.
A graduate of the Warsaw School of Economics, Sylwester received an MA specializing in finance and banking. As Finance Magnates' research associate and STA certified analyst, he leaves no stone unturned. Sylwester is the previous minority partner of an NFA registered US forex broker, and since 2003, has participated in many forex projects.
58% of UK Investors Choose Professional Guidance over 'Finfluencers’
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
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#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
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#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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