Embrace the Change: Tsunami of Regulatory Changes Reshape the Industry

The past few months has seen a number of sweeping regulatory changes hit the financial services industry, forcing many brokers to adapt to an increasingly challenging environment. Finance Magnates spoke with Itai Sadeh, VP of Corporate Development at iFOREX Prime, “There have been many talks and discussions over the last few months about the effect of changes brought in by ESMA, GDPR, as well as Google AdWords changes and how they have been a dampener on the industry.”

Embrace change to remain relevant

“We have been in the business for 22 years and have seen the industry go through significant regulatory and marketing strategy change. We feel that the quicker we embrace any regulatory changes and adapt, the better service we can provide for both our retail and white label clients.

To this end, the iFOREX Group’s ability to match a myriad of online trading standards and the latest user-interface trendshas consistently allowed us to stay ahead of the competition.”

Brokers now require far more sophisticated efforts to attract and retain customers now that ESMA CFD product intervention rules, along with social media restrictions, search engine measures, and competition from other brokers have collectively driven up the cost of client acquisition.

Simply staying the course is not enough anymore and innovation is needed – this is evident through newer business models as well as the messaging brokers need to convey to their potential customers.

The iFOREX Group gives its business clients the opportunity to share its experiences of running multiple successful brokerage brands via iFOREX Prime (www.iforexprime.com). iFOREX Prime’s diverse suite of products and services are tailor-made to allow brokerage firms to adapt to both current and upcoming challenges.

This enables brokers to focus more on growing their business without the concern of spending valuable time or resources on integrating multiple service providers.

iFOREX Prime Offering Robust Product Suite

iFOREX Prime offers a variety of products, including its advanced CRM , SCMM, which harnesses data to handle all sales, retention and compliance needs. SCMM analyses your database with accurate, relevant, event-triggered alerts and provides access to detailed reports.

Itai Sadeh adds, “One of the main features of SCMM is it works along with the group’s proprietary Business Intelligence system, powered by an immense statistical engine to provide lead scoring. This helps to focus on the best leads with the highest chances of conversion into loyal clients.”

Another invaluable feature on offer from iFOREX Prime is their versatile campaign manager called EMERP, which handles all billing, creative materials access, campaign management and ROI analysis needs for your brokerage firm.

Furthermore, iFOREX Prime offers a proprietary Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term, FXNet, which offers over 650 tradable instruments. Developed in-house and operating as its flagship platform, FXNet helps simplify trading experiences through state-of-the-art trading tools for both web and mobile devices.

By extension, iFOREX Prime offers several helpful services for brokers, addressing all Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term needs, payment solutions, as well as benefits for creatives and studios too. Itai notes that “This includes Negative Balance Protection for liquidity management provided to brokers, and technology that is fully compliant with most current regulations.”

Collectively, these services and products make iFOREX Prime ideal for all your brokerage needs. Itai summarises, “Indeed, the industry as a whole has had to navigate itself through what has been unchartered territory and challenging times, and despite 2018 shaping up as one of the toughest years in recent memories for brokers, we at iFOREX Prime believe that adaptation is the key to a broker’s survival. The quicker brokers manage to adapt to a new playing field, the easier it will be to not only survive, but actually thrive in this newly defined space.”

Disclaimer: The content of this article is sponsored and does not represent the opinions of Finance Magnates.