Top features to implement in Trader’s Room software and make your traders happy

• Client’s side features
  • Accessible UI and friendly UX
  • Various authorization options
  • Popular trading platforms integrations
• Administrator’s side features
  • The more payment integrations, the better
  • You can’t have too much security
  • The regulator should be happy with your reporting
  • Partnership programs help you scale your business

Trader's room, or, as it is often called, back-office software, is a service indispensable for the activity of any brokerage business. Forex back-office software is used to arrange private space for a trader, their hub on the website of your brokerage company, and implement back-office functionality to work with payment systems and process client’s documents and identification requests.

In this publication, we'll break down the key instruments that will help turn this component into a gateway that will provide a seamless transition to your trading ecosystem. They can be divided into two categories, by analogy with the architecture of back-office software for brokers — the client's side and the side of an administrator, or a business owner.

Client’s side features

The client personal area of trader’s room software enables the whole set of essential brokerage operations, including registration, document processing, asset depositing, withdrawal and transfer, and account opening. Given this list, the component functionality should be as comfortable as possible and accessible to the client. Several important features should be provided in your brokerage business in order to achieve this.

Accessible UI and friendly UX

Although the visual shell is just a signboard that hides the most important functionality of trader’s room software, you can't underestimate the importance of this feature for your clients. If a customer encounters discomfort in the first stages of familiarizing themselves with a brokerage service, it can significantly degrade chances of retention.

Various authorization options

Nowadays, traders actively use a variety of social networks. And the possibility to authorize via them can be a significant advantage for the broker in terms of ease of use.

Popular trading platforms integrations

The reality is that the Forex broker back-office software market has developed a certain state of affairs that is hard to change for now. We’re talking about the fact that if a brokerage business does not employ Metaquotes products, namely MetaTrader 4 and 5, the range of possible clients is significantly limited, as these platforms are extremely straightforward from a user's point of view, and represent a great entry point for newcomers.

Administrator’s side features

The administrative module of trader’s room software handles the set of complex functions, like customer data storage and processing, clients’ accounts verification and administration, compliance procedures and financial flows supervision, and account balance tracking. The right administrative module architecture provides setup and subsequent automation of most routine services to free up the client's hands for running the business operations.

The more payment integrations, the better

Multiple payment integrations enable your customers to freely choose how to deposit and withdraw funds, resulting in an increase in traded volumes for the business. Of course, handling payment systems is greatly influenced by regulators, but ideally, you should strive to increase the options in this segment of your brokerage.

You can’t have too much security

The main thing that can pose a threat to your business is jeopardizing your clients' personal data and funds. Unfortunately, hacker attacks and infrastructure raids are still not uncommon, and any business owner needs to keep this fact in mind when choosing back-office solutions.

• Multi-factor authorization (including recovery codes, key generators, and connections through secure social networks).
• Cryptographic protocols for every type of web communications.
• Restricted access options for servers.
• Relational databases without direct access to the Internet to store any type of data.
• Integrated KYC and AML tools to ensure the counterparty/customer visibility principle and exclude suspicious activities.

The regulator should be happy with your reporting

Note that the regulator may require multiple types of reports from a brokerage business, depending on the type of activity, and therefore the reporting system in the administrative module should be structured as flexibly and transparently as possible.

Partnership programs help you scale your business

Partnership (affiliate) programs are one of the best ways to attract new clients to your platform, as well as to increase the traded volumes. However, the functionality of the administrative module must be properly configured to implement these programs and withstand the possible influx of activity.