3 March 2021 | 14:44
Why is FX BACK OFFICE’S IB System the best on the market?
There’s no IB System like FX BACK OFFICE’s. A bold statement - but we’ve got the goods to back it up.
First you need to know a bit of history to understand why we are so confident about our IB System. 90% of our team members previously worked for years in successful Forex companies. During that period, they developed certain systems which are still in place today - systems that would go on to make those companies millions.
In order to develop something out of the norm and better than anything on the market, you first need to have the adequate experience, trials and errors under your belt. Then and ONLY then, can you develop an IB system like no other - like we have at FX BACK OFFICE.
So what makes our IB System so special and why is it considered the best on the market?
We’ve got the usual bells and whistles like other Forex CRM providers a multilevel IB System with auto generated tracking links and their statistics, a banner section available for multiple languages, and permission restrictions available if necessary - but where it gets interesting is how everything connects together. The devil is in the detail so they say and if your MT4 or MT5 CRM solution provider hasn’t connected the dots, you’ll feel that deep in your pocket.
In our experience where it all starts to go wrong with other Forex CRM software systems is from the campaign set up. By that, we mean the commission structure you choose for your IB and how you set it up.
At FX BACK OFFICE, you get to choose the campaigns you’d like to be made available for your clients. Your options range from CPA, CPL, point per lot, money per lot or million, to percentages of commission or sub IB commission. Our optional sharing types include point or money per lot too. However, if you don’t have a CRM provider who can take you through the configuration of these campaigns or didn’t program them correctly in the first place - it really doesn’t matter how many commission structures you offer or your clients have to choose from! If commission isn’t paid correctly, you’ll lose a client period.
We’ve done our research into the available solutions on the market, and by that we don’t just mean signing up and having a look around. No. We’ve deposited, withdrawn, and brought small IB’s to ‘test’ different IB systems. What we found is that small but significant things were often left behind. In some cases (as an IB) it wasn’t made clear to us what instruments we were being paid on (and we couldn’t find this information without contacting the company). In other scenarios commission was being added manually leading to serious financial mistakes, and, (possibly the worst of all) our Sub IBs were not connected under us as referrals - equating to more financial loss. These are just a few examples of what can and does go wrong in other systems. Technically these things are easy to fix, but you don’t want to be the company doing that after-the-fact.
In our IB system, nothing of significance or in general gets left behind. From the very beginning of any campaign set-up, you can choose which instruments you’ll pay commission out on and the amount. You can do this for an individual, a group, or an account type and you can save what you’ve configured to use or apply to other IB’s later. Your IB’s can see this information clearly in their client area which cuts down on unnecessary communication. Once you’ve set up your rules relating to commission, you can count on the fact that everything is done manually regarding IB payment from there on out. Your IB’s will be able to see exactly what commission they are receiving within their client area in real time, avoiding any disagreements relating to earnings. We have a very transparent IB ‘tree’ which shows precisely who falls under who, and contains all trade history. IB’s can see their commission, traded lots of their referrals, and stats on their links in graph form using selected dates - making their dashboard more attractive and easier to read.
Your support staff can ‘de-bug’ queries from clients who think they should’ve been paid out on something (but weren’t) by using our commission debugger, which will detect the reason commission wasn’t paid out immediately - making clear explanations to clients available in seconds.
So, to answer the question of ‘what makes our IB System the best on the market’, would be the superior functionality we have in place, the attention to every detail from the development stage to maintenance of the current version, and the experience and expertise under our belts to customize and continually develop and evolve with the times.
Contact us for a presentation of our Partnership Area today!