How To Create A Memorable FX Brand

2021 is a year of new opportunities, and if you have decided to take the leap this year and start your very own FX brokerage, this article is for you. In today’s article, we will share with you the key steps and strategies you need to undertake in order to create a memorable FX brand along with tips and tricks on how to get your very first customers. 

Let’s get started.

1. Find Your USP

One of the first and most important steps you need to take is to understand your brand’s USP. As someone who has just started their company, you must be well aware of the competitors you have. And when a significant amount of competition is present, you ought to ask yourself, what is different about my business, which will intrigue my customers to choose me over my competitors. 

In the marketing industry, your brand’s reason is often referred to as the USP or Unique Selling Proposition, or in other words a single or multiple aspects of your business that will help you stand out from the competition. In your case, this might be your customer support or the expert research team you have within your company. 

Whatever it might be, it is important that you identify it early in your business and place it at the core of your brand-building efforts.

2. Create Your Logo

The first impression your potential customers will acquire about your business will come from your brand’s logo, and thus this is an integral part of your brand building strategy. In today’s modern business environment, customers are exposed to thousands of brands every day, and thus you need to make sure that not only is your brand eye-catching and iconic, but it also captures the essence and message of your brand clearly. 

If your budget permits, get a professional designer who can bring your brand to life or if you are just starting out, you can always rely on free resources like Canva to create your initial design. 

Along with this, keep in mind that the colors you select for your brand logo will play a significant part in determining how your customers feel about your brand, and thus you should read up on color psychology in logo design beforehand. 

3. Create a Brand Awareness Campaign

Once you have finalized your brand’s USP and logo, it is now time to set up a brand awareness campaign, such that you can get the word out about your company. A great way to do this is through professional networks like LinkedIn, where there are dedicated groups for FX traders and also customers who are actively seeking out their services. 

At this stage, you need to design a campaign that is bold and attractive, such that you can draw upon the attention of your target audience and convert them into leads in the future. Along with this, a great point to keep in mind is the fact that instead of focusing on the core product you offer, focus on the pain points of your customers that your product will solve. 

Diverting attention from what you can offer to how your customers can benefit from your offering can not only change the narrative of your brand awareness campaign in your favor but also make sure that customers are more likely to approach you rather than your competitors in the future.

4. Double Down on Social Media Presence

Last but not least, create a presence for your brand on popular social media websites. Starting from consumer-centric ones like Instagram all the way to business-centric ones like LinkedIn, you need to make sure that you have a well-tailored social presence. Depending on the social media website you choose, research on the target audience you want to attract and subsequently start creating and posting valuable content for your audience.

Having a well-tailored presence on social media will not only help you engage with your customers better but also give them a space to interact with your content, learn about offerings, all of which will be contributing factors to your business’s success in the long term. 

However, when you are just starting out on social media, it is immensely important to properly research on the platform and learn about the type of content that works best for your purpose. For example, if you want to build a loyal following on Instagram, the new Reels feature might be best for you, whereas if you want to execute the same on LinkedIn, posting in-depth articles on expert topics might work better.

Ending Lines

Creating a memorable brand for your FX business is not only immensely important to attract new customers, but also to craft and foster a brand identity for the long term. Because at the end of the day, succeeding in the FX industry is not an overnight game, but one that requires consistency and hard work for the long run. 

All the best.

How to Launch Your Own Forex Brokerage in 2021

The world as we have known it so far has changed completely, and thus it is time that you revise your plans as an entrepreneur as well. As countries around the world begin their shift towards a self-sufficient economy and new technologies such as blockchain, AI, and machine learning make headlines, it is sure to make an impact on how we have participated in trading forex so far. 

If you are excited to become a part of this ongoing trend and you want to start your very own forex brokerage in 2021, this article is for you, as we will be going through a step by step process on how you can start your own forex brokerage in 2021. 

Let’s get started.

Step 1: Form a Company and Get Your License

The first and most important step you need to follow to start your forex  brokerage is to identify the country you want to register your brokerage company in. Since these technologies and offerings are still relatively new, you want to make sure that you look into the economy of the country, the job market, the technical infrastructure, and most importantly, the rules and regulations of the country in terms of forex  trading. 

While undertaking this process, make sure to keep an open mind and research several countries at the same time in order to determine the best choice which suits and meets your needs.

Step 2: Get a Forex Trading Platform

Once you have set up your company and obtained your financial license, the next step is to obtain the forex trading platform. In simple terms, this software will be at the core of your business and will enable both your clients to manage their trading accounts as well as allow your team to manage the back-office functions. 

A great offering in this line up is MT4, also known as MetaTrader 4. Not only is this software immensely powerful when it comes to forex trading, but it also allows you to white label all its offerings in line with your brand identity.

Step 3: Setup Payment Channels and Liquidity Offerings

One of the most important aspects traders take into consideration when evaluating a forex brokerage is the amount of liquidity they have on offer. In simple terms, you can understand liquidity as an indicator of the overall financial health of your business, and thus you need to make sure that you conduct proper research and source a provider who can supply you with deep liquidity at an economic commission. 

Along with this, you will also need to set up an online payment channel such that all settlements of your business can happen fast. Once both these steps are executed, your technology infrastructure will be complete.

Step 4: Beta-Test Your Offering and Prepare to Go Live

Now that all the key steps in your forex brokerage setup are complete, you need to hire experts and offshore partners to conduct multiple rounds of beta testing across all your offerings. 

The world of forex trading is one of the fastest moving in the whole industry, and thus traders in this domain expect a 100% uptime along with no glitches in the software. Through multiple iterations of beta testing, not only can you pinpoint glitches in your system but also consult technical experts on how to fix them. 

Once the beta testing is complete, now it is time for your forex brokerage to go live and open its doors for the public.

The visitors are more likely to come in touch with you when your website has quality information about the market and placement of orders.

Step 5: Market Your Business

As we continue into 2021, one trend I am sure you would have noticed is that all businesses around you are going digital. Along with this, as the penetration of the internet and smartphones increase, it is only getting tougher for businesses to get in front of their target customers. Thus, as you can understand, just starting your forex trading platform isn’t enough, and you will need to market it properly to reach your target audience. 

A great approach to this can be to create an audience persona of potential customers and use that across all your marketing efforts. Having a detailed audience persona with demographics included will not only help you identify the right target audience but also figure out the most effective methods of reaching them. 

Along with this, make sure that you hire a designer to craft a logo which makes your brand stand out from the competition while effectively communicating your company message, ideals, and values. 

Last but not least, while marketing your forex brokerage, shift the perspective from what you can offer to your customers to what problems of your customers you can solve through your offering. This simple tweak will not only make your marketing effort more humane but also generate a higher ROI.

You can find more about how to market your brokerage via digital marketing by clicking here.

Ending Lines

Starting your very own forex brokerage in 2021 may seem like a daunting task, however, if you implement the steps outlined above, we are sure you can succeed with flying colors. All the best.