LeapRate recently spoke with Dmitriy Petrenko, the founder of FXBackOffice, a newer entrant in providing CRM and office management solutions for brokers worldwide. Founded in 2016, the company has established a very strong customer base.
FXBackOffice combines CRM, client admin, and partnership management all in one, and is compatible with both MetaTrader and cTrader, and is worth checking out. For executives on the go, the company also provides access to all reporting through mobile.
Read more about Mr. Petrenko and his company FXBackOffice in the following Q and A.
When was FXBackOffice founded, and who founded it?
Dmitriy: FXBackOffice was founded in early 2016 and began as a pipe dream between a few extremely experienced industry professionals who knew they could revolutionize the day to day running of the Forex brokerage business. With over ten years of experience a piece from our team of directors, we understood exactly what a broker needed in order to operate at peak level and excel within the industry.
Working in different departments including support, sales, dealing, compliance, IT, and even as Directors at forex brokerages, we brought our joint experience together and created a forex CRM that would not only support and maintain every day needs, but would add massive value to brokers by providing user friendly conversion tools, simple partnership management programs and a daily management system with a client cabinet like no other company out there.
What are regions of the globe are the strongest client base for the company?
Dmitriy: We have clients from China to Australia, Turkey to UK, Africa to Cyprus. There’s no one region that has a stronger client base than the other, to be honest. I can say that in a very short amount of time, we have managed to establish a very strong global presence as a forex back-office provider, and are proud of the diversity of our client base.
What have you seen clients demand in the last year or so? Anything you have had to change at the company because of this?
Dmitriy: We’ve seen a large demand for development in our forex CRM as a whole, especially in terms of compliance with different regulatory environments. We’ve had to adjust the product accordingly to assist our clients in complying with regulators such as CySEC, FCA, FMA and so on, due to the regulators tightening their belts for the safety and overall protection of the traders.
Different clients have asked for different things, anything from in-depth financial questionnaire implementation inside the registration process, to specific data that clients agree to be stored inside their profile in the backend segment of our product. Our reporting system seems to have taken off with the clients the most, with all sorts of requests for different reports that we have quickly implemented and applied throughout, making the product better overall.
We’ve had a huge demand for the development of a PAMM system, which I am happy to announce after vigorous testing, it was just launched as a separate feature to our regular offer.
How long is the process of integrating FXBackOffice solutions, is it compatible with any FX/CFD trading platform?
Dmitriy: The entire integration of our forex back office can be done within a week, providing the broker gives us the information needed promptly. We send all of our clients a simple questionnaire asking them to fill it out, and as soon as we get this information we immediately begin integration. We handle the migration of client’s profiles, documents, and sensitive information quickly and with complete ease, so any broker can move from their current provider to us, knowing that no information will be lost along the way.
When it comes to adding different trading platforms, we are already heavily working with MT4 / MT5 and cTrader amongst others. There is no known platform that we cannot add, nor no amount of volume we cannot support. We’ve worked very hard to cater the product for a worldwide audience and powerhouse brokerage firms, constantly improving FXBackOffice’s technology on a day-to-day basis whilst striving to be as flexible as possible.
What further developments you are planning to make in 2018?
Dmitriy: FXBackOffice is constantly improving its products. Our aim is to keep providing our customers the best forex CRM on the market.
For the first quarter of 2018, we have planned to revise and further improve the marketing and management parts of the CRM, adding even more automated functionalities to optimize workflow on a daily basis. A lot of the improvements are our own ideas, however, we’ve been carefully considering our client’s requests, and plan to make their visions a reality.