Promoting forex trading can be challenging, as it’s a highly competitive and regulated industry. However, in this article we will analyze some of the basic services and effective techniques used in the industry to be one step ahead of forex broker competitors.
Content Marketing: Many forex brokers have forex trading blogs or other websites (satellites) where they regularly publish high-quality content. They publish every article which can be useful to a trader, from a beginner one to the most experienced. These articles may include trading strategies, market analysis as well as educational material.
Search Engine Optimization (SEO): Using SEO, companies can optimize their websites for search engines to increase organic traffic. Focusing on relevant keywords and ensuring that the website’s interface is user-friendly, simple, and mobile responsive are some must parameters to have in their checkbox. A dedicated team from the Marketing Department and IT is usually those who oversee this promotional part for a forex broker to attract potential traders.
Social Media Marketing and Paid Advertising: There is no doubt that during the last years social media has exploded. A strong social media presence should be established on all well-known platforms like Facebook, Twitter, Instagram, LinkedIn, etc. Sharing informative content like market news and updates, trading tips will help engage relative audience. For reaching to larger audience, many companies run paid advertising campaigns on these platforms.
Email Marketing: An email list of interested traders can be built or purchased. The Sales Department can reach out to them or regular newsletters with market insights and information, trading signals and other educational material can be sent to them frequently. Email content can be personalized to make it more relevant to each potential client (e.g. specific content per country, region, etc).
Educational Webinars and Seminars: Many forex brokers organize and host webinars or seminars with limited groups of attendees. These are done to educate potential traders about forex trading and the available trading platforms, and they usually have high conversion rates and registrations. These events can be used for a broker to demonstrate its expertise and build trust with the audience. E-books, video tutorials and other trading tools can also attract traders to a broker’s trading platform.
Affiliate Marketing and Referrals: All forex brokers offer affiliate programs and schemes to promote their services. Introducing Brokers or Affiliates can earn significant amounts depending on the number of the clients introduced to the brokers, as well as the deposits which will be processed by the referred clients. Many brokers pay affiliation as per CPA (cost per activation), rebates depending on the volume traded from clients or hybrid systems which include both CPA and rebates.
Networking: It’s always useful to attend forex trading events, forex expos and conferences. Participation to industry forums will assist a company to get attention and awareness at the forex market. Networking will expand corporations and synergies while other useful information may be found (e.g. Payment processors, IT-Software companies and tools, etc). A broker’s presence in such events helps to gain credibility in the industry.
Compliance and Regulation: Forex trading is a quite regulatory restricted industry. Before targeting a specific market (e.g. region), everyone should be sure that they comply with the latest regulations and requirements. This is quite important, since it would be a waste of time and resources to realize afterwards that people, time, and money have been spent on a specific market where forex activity is not allowed due to regulatory restrictions.
Customer Support: A client’s first impression of a forex broker company is its Customer Support. The Customer Support department and employees will assist clients via email, telephone or live chat service and their expertise, their knowledge and promptness should be at the highest level. Support is the responsible part of assisting clients, providing them with any educational material needed and reassuring them of the company’s credibility and professionalism.
You should always keep in mind that creating a successful forex trading promotion strategy takes time and persistence. Additionally, it is crucial to give extra attention to transparency, credibility, and compliance. These factors will assist in building trust with the respective audience and in the forex industry in general. Always be aware of unrealistic claims and promises, as this can negatively impact the business and its reputation in the long run.