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Technology Review: CRM solution for Forex Introducing Brokers

Posted by Bill OLeary on Feb 24, 2014 1:15:00 PM

This positive review of WorldWideMarkets new back office system for Introducing brokers, "IB Explorer," was published by veteran Introducing Broker, Jeffrey Baskin.  Contact us for a free one on one demo boleary@worldwidemarkets.com.

Technology Review

by Jeff Baskin: Forex Introducing Broker, AMF Forex

WorldWideMarkets Online Trading

IB Explorer:  CRM solution for Forex Introducing Brokers 

http://www.youtube.com/watch?v=tYeGvM0M3-U

Provided here is my review of the WorldWideMarkets IB Explorer platform.  This is a back office platform for introducing brokers. I have to say, at first, when I was told that I had to download and application and install it I was a little bit put off, but once I say the capabilities of this comparison with some of the other web-based introducing broker back office platform forms that I’ve used.  

I was incredibly happy with everything that this could do and some of the main differences. It’s just the amount of information that I have access to, as well as, the speed at which it runs. With some of the other brokers, if you have a lot of clients, it takes forever.

And you could be sitting there for 4 or 5 minutes waiting for things to load or to populate. With this, everything just happens at the click of a button. You can see different things simply by clicking through and the information changes which is fantastic.

One of the things that you noticed when you first login is that you have everything in front of you - all of your client information, the platform that they’re on, their account number, their status, their username, when they opened, your deposits,  withdrawals, everything that’s financially related to the account.

And then, when you click on an individual account you can see their email address the leverage that they’re on. So if you’re speaking to a client on the phone and you need to have their information on hand, you simply just click on their account.

And if you needed to you can click on these individual columns and search for an account number or even part of an account number and it will populate that for you so that you can click on it and find the account.

And that works for any column so that you can filter by account number, by deposits, in any of the column headings you see. Makes it really really easy to track down information that you may be looking for which is one of the great features of this platform.

One of the other great features of the platform is the reporting. You can run individual reports on customers - customer statement, financial history, a trading history, MetaTrader customer statement, account payments. Then, you could also run things on your IB as a whole.

So let’s say I wanted to get a summary of everything that has happened with my IB month to date. Select that report, month to date. I want to output in as a PDF. You also have the option to do it as a spread sheet. And then, I hit Run. Populates right away and I see everything in front of me. I’ve got my rebates for CFDs, for Forex. I can see how many new accounts I’ve brought in, how many accounts I have in total.

What I’ve got in deposits, withdrawals. And then, you can select the month to date. You can also, select the date range so that you really have a grasp on everything that’s going on with your IB at any given time. And that simply just populates in a Reports tab. And all I have to do is hit Account Manager and I’m back to the home screen.

The last thing I want to talk about is the integration of a charting package and Forex pricing in to the IB platform. So if you have to do research on client trades or a client has a question you don’t have to get out of this platform and jump in to your trading platform you simply hit chart. Find the currency pair that you’re looking for and it’s going to load a chart right here in front of you from the WorldWideMarkets AlphaTrader platform.

And then, you could do whatever research that you may need to do. If you needed to see a price of a specific time or day you have that one here in front of you and you don’t have to use multiple applications.

WorldWideMarkets have built in a trading calculator. If you go to Views and hit trade calculator you have your trading calculator right here. So you can select your currency pair, buy or sell, the currency units. So let’s say we wanted to do one standard lot - 400:1 leverage.

It’s going to tell me how much margin is required, what the pip value is, as well as, the long and short financing percentage. This is great, once again, to answer client questions, if they have any issues with calculating margin or needing a pip value you have this information at your  fingertips, very easily and accessible without, once again, Google or find a trade calculator to get the info.

Last, but not least, the customization of this platform also goes as far as even to allow you to select the colors and change what you want it to look like. So if you change the theme and there’s a bunch of different options - green, blue, black.  So whatever you like and whatever you feel good with.

All these features allows this to be I think one of the most comprehensive introducing broker back office platforms to use. It really is geared with the IB in mind so that you can have everything you need in one place. 

IB Explorer

 

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