Today, hundreds to thousands of forex trading platforms are available. All you need to do is search online and look for forex trading platforms that best appeal to your trading needs. With the growing competition in the forex business market, it’s more challenging now to market a forex platform.
When you search for the keyword “forex trading platform” online, you’ll see thousands of brokers offering various trading options. From CFD trading to ETFs, online trading services and products can overwhelm you, especially if you’re a beginner. From a customer’s perspective, choosing a broker to trade with can be overwhelming and confusing. On the other hand, from thousands of forex brokers’ perspectives, appealing to their market becomes increasingly challenging.
If you operate or work for a forex broker company, you likely relate to and understand this dilemma wholly. In this post, let’s discuss ways to market a forex platform this 2023.
1 – Make your name or brand tagline short yet attention-grabbing
When you type “forex brokers online” in your search engine, you’ll see many results from brokers that almost have the same names and headlines. For professional marketers and advertisers, a brand’s tagline and name should follow the golden rule of “short and sweet.” In other words, your forex platform’s name or tag point should grab the attention of your target market and stay with them.
As a financial service company, this point might seem pointless and a waste of time. However, regardless of the business type, having a killer brand name and catch-point is one of the strategies that could make your brand influential and famous.
2 – Make forex, financial terms, and jargon easy to understand
One thing that pushes people away from learning or starting trading in the forex market is its jargon. The truth is many are interested in expanding their financial ventures. But the difficulty of digesting the terms and vocabulary of a specific financial service prevents them. Since hundreds to thousands of forex brokers are available that use the same terminology, take the opportunity to make trading easy to understand for regular people.
It’s helpful to remember that many people are unfamiliar and unadept with financial terms, especially if they’re from a different industry. Try to explain and define forex jargon in a manner that anyone can understand. Doing so will help you attract new potential traders interested in the market.
3 – Establish an audience base on social media
According to statistics from 2021, 91.9% of marketers in the U.S. use social media. That is the percentage from one country only. Can you imagine how many businesses and brands have social media today in 2023? Despite being a financial service business, an online presence makes a huge difference in marketing and promoting your platform.
If your forex broker company only relies on word-of-mouth and search engine advertising, this is your sign to expand your advertising strategies to social media. You can communicate directly with various audiences and spark consideration into trying forex with social media. Also, you can educate and share tips easily on media platforms.
4 – Provide tutorials, educational references, and tips on how to trade better
Another helpful marketing strategy you can use is sharing education references, tips, and tutorials on your website and social media pages. Today, the internet is full of information. Unfortunately, many are unreliable. Hence, many people believe and have negative connotations on financial services, like forex.
Once you establish enough audience on your social media pages, you can share tips from your professional traders. Of course, don’t forget to make those tips easy to understand by anyone. You can also take this opportunity to educate people about jargon’s meaning and proper uses, so people will know how to use them accordingly.
5 – Partner and pitch collaborations with other companies
Today, B2B collaborations help small to big-sized businesses to reach their goals quickly. Collaborations and partnerships allow brands to have a win-win situation and expand their networks. It’s difficult pitching a collaboration or partnership with another forex broker company. So instead, consider working with other financial brands relevant to forex.
You can partner and collaborate with banks, insurance companies, or other financial services you can offer discounts or perks for your clients. Partnerships give your market and potential clients confidence that your business is reliable and safe.
6 – Provide monthly, quarterly, or yearly webinars that your traders can attend to learn about the updates and changes in the market
Every customer wants and appreciates a business or brand that provides opportunities for them to learn. And since forex is a technical industry, staying up to date with the trends, news, and changes in the market is a must. With that, consider including monthly, quarterly, or yearly webinars for your audience.
You don’t have to conduct a webinar every month if that’s not feasible with your company’s goals and budgets. Instead, you can schedule one quarterly or yearly if that works better. You can invite famous and professional traders to your webinars and share trading tips for every currency pair or company stock with your traders. Again, it’s up to you to decide what topic or agenda to have in your webinars.
7 – Be engaging and approachable to your clients
Lastly, be engaging and approachable to your clients. Since you’re managing and operating a technical and financial business, expect your clients to have difficulties and queries. Train your team to listen to your traders’ needs whenever they have one. Try to designate a group to focus on traders’ concerns if possible.
No trader or client would want to entrust their money with a company that does not listen to their concerns. That’s why you must address your client’s concerns and be available for their questions whenever they have one. Having a reliable customer care team heightens customer trust and recommendations to others.
As they say, marketing is king.
Marketing goes beyond an entertaining storyline and clever promotional tactics. It’s also about connecting with your clients and providing the best product or service experience that they could have. And since marketing a financial brand like forex requires more effort, try starting with these seven simple ways to move ahead in the game.
About the author:
Bianca Banda is a writer for FP Markets, one of the best-regulated Global forex brokers with over 40 global industry awards—and counting, making them the trusted trading broker by many.
