Customers are the backbone of any business. However, the number of new users doesn’t solely determine the profits. It is important for a broker to retain traders, demonstrate the benefits of cooperation and encourage new investments. Additional Metatrader plugins, programs and tools are used for these purposes. They expand the platform’s basic functionality and help grow the audience.
Cashback and promotions
The first category concerns small MT4 and MT5 plugins that are attractive because of the various financial bonuses they provide:
- Cashback. Part of the amount entered by the user is returned as a cashback. The broker himself sets the cashback amount, and the plug-in operation scheme can change depending on the specified conditions.
- Bonus deposit. A software solution aimed primarily at beginner traders. The total capital increases because of the bonus deposit.
- Flexible discounts. A multi-level customer acquisition system that allows you to create your own scenarios for providing discounts and combining them.
The affiliate program where a reward is paid out for attracting users is still effective. Brokers also use a bonus system for agents and representatives, depending on the results achieved.
Trade copying
In 2015, a group of US researchers conducted an experiment by observing the actions of tens of thousands of traders. It turned out that about 97% of brokers’ clients either lose money or have insignificant unstable earnings. Only 0.4% earn over $10,000 per month. Therefore, the service of copying trades is in great demand among investors.
Copy Trader is a program that allows you to automatically make the same transactions as successful traders. It offers users detailed statistics of the “masters”, the ability to fine-tune copying conditions depending on acceptable risks, stop and start the process at any time.
Some users prefer to have their investment managed by a professional “master” rather than simply copy trades or trade on their own. There are a couple of tools that allow a broker to implement such a system:
- PAMM (Percent Allocation Management Module). The main feature is the placement of all funds in one account. Trading operations are performed by the manager, whose funds are also a part of the turnover. At the same time, in order to achieve positive results, the investor is not interested in premature withdrawal of funds (sometimes it leads to penalties). The benefit of PAMM for a broker is the almost complete automation of the process.
- MAM (Multi Account Manager). Here, the capital is distributed among different accounts, and a contractual relationship is established between the manager and the investor. It is also important to remember that PAMM is prohibited in certain jurisdictions (i.e., American and British), but MAM is not. The introduction of this tool has a positive effect on attracting experienced and successful traders. Investors, in turn, can freely replenish their account and withdraw funds, they have complete information about the trader, and the agreement protects against non-trading risks.
Programs and plug-ins can be supplemented with widgets, add-ons, and a unique graphical interface. Ease of use and intuitive features play an important role in attracting and retaining customers.
