MT4 CRM is developed for forex brokers operating their brokerage business with an MT4 Admin License or MT5 White Label License. It helps MT4 Forex Brokers in managing the end-to-end operations of their business smoothly and seamlessly.
For the uninitiated, let us share that the MT4 Trading Platform is over 20 years old. Yes! It was released 2 decades back by MetaQuotes and accredited to the humungous growth of online retail forex trading in the past 2 decades.
And even if you are active in the forex market for just 6 months, you must have noticed that it changes rapidly and faster than arguably any other industry.
MT4 Admin and White Label licenses come with pretty raw features for users. To run a proper customer-centric profitable forex brokerage business, one needs several add-ons to the MT4 platform like price feeds, MT4 Liquidity Bridge, etc.
The most important add-on to an MT4 Brokerage Platform is MT4 CRM, which helps brokers in running the business with ease.
What is an MT4 CRM?
As the name suggests, MT4 CRM is a Customer Relations Management Software that integrates with an MT4 Admin or White Label platform and provides enhanced features and functionality which don’t come with standard MT4 platforms.
CRM MT4 is independent forex software rather than a tool that allows forex brokers, traders, and partners to get MT4 Manager and Trading Terminal features with different additional conditions and parameters.
With a good MT4 CRM, forex brokers, their clients, and partners don’t even need to login on to respective MT4 Manager and Trading Platforms to use basic functions like account creation, balance transfer, order book, etc.
An MT4 CRM has three main modules;
I. MT4 Broker CRM or back-end
MT4 Broker CRM or back-end to manage leads, customer on-boarding, KYC, AML, Payment processing, reporting, risk management, and service and supports, etc.
It’s the backbone of an MT4 forex brokerage business operation.
II. MT4 Traders Room or Traders Cabinet
As the name indicates MT4 Traders Room or Traders Cabinet is the client-side of MT4 CRM that a customer or trader accesses to sign up, upload KYC docs and info, deposit payment, check the trades/order book, profit and loss statement and get support & services etc.
Carrying out these functions on MT4 Trading directly is not that user-friendly and a little clumsy.
Let traders use the MT4 Trading terminal to access that currency pairs and other instruments, charting tools, indicators, and making trades.
It makes their lives easier and delivers customer delight.
III. Partners Area
Forex Introducing Brokers aka IB and Affiliates as the key marketing partners of and MT4 Broker. They are actually subsets of customers only but separate functions and features are required for them.
Partner Area of an MT4 CRM has a dashboard, a list of clients introduced by them with their levels, earning benchmarks, and reports.
This is where the partners actually see their earnings, rewards, and timeline.
How does an MT4 CRM work?
After releasing the MT4 Trading platform in the year 2004, MetaQuotes soon realized that the MT4 brokers, their trader clients, and partners would require several custom features and functionality.
But they did not want to develop these tools and wanted to focus on core forex software development.
They released MT4 Manager API for developers to connect with MT4 Manager and access the user management, order book, risks, and exposure modules to develop custom tools like MT4 CRM.
It opened the floodgates of possibilities to develop different forex tools for brokers, traders, and their partners like IBs and Affiliates.
Technical explanation of how an MT4 CRM actually works?
Don’t worry we won’t go into too much technical stuff like codes etc. Here is just a simple Technical explanation of how an MT4 CRM actually works.
An MT4 CRM connects with a LIVE MT4 Manager with the help of MT4 Manager API. The MT4 Manager API establishes a 2-way-communication channel between CRM MT4 and MT4 Manager.
Different functions like User Creation, Payment Receipts and Credits, Balance and Margins, exposure, etc., are accessed by CRM MT4, and when any new action is taken it gets updated in MT4 Manager as well.
For example, when a user is created on MT4 CRM, a real account is created on MT4 Manager as well. The user of this account can access the trading terminal and make trades, check the balances/margins, etc.
MT4 CRM Cost
When you are planning to start a forex brokerage business, chances are that you would go with MT4 White Label Solution which you buy from a forex brokerage solution provider.
They usually sell MT4 White Label packages that include MT4 CRM as well along with other things. MT4 CRM cost is usually included in their bundled packages. When you buy a packaged MT4 white label package you get everything at a discounted price.
If you want to buy or subscribe to an MT4 CRM separately, you usually need to pay a higher price.
The lowest MT4 CRM cost offered by a forex brokerage solution provider is USD 800 in set up charges and USD 500 monthly charges. It comes with Broker CRM Admin, Traders Room, IB & Affiliate Modules and Customer Service functions.
The MT4 CRM cost varies from one solution provider to another as they all offer different functions and features.
It’s always advisable that you get a demo of CRM MT4 from different providers and understand what they offer at what cost. A cost-benefit analysis will help you in choosing the best MT4 CRM Software.
MT4 CRM Software is a must if you are running an MT4 forex brokerage business. When you are starting up, you might think that you can do without an MT4 CRM Solution but trust us you need it right from the beginning!
We have a decade’s experience working for start-up forex brokers and have seen the brokers suffer who try to operate without a CRM MT4.
When you are starting up your own MT4 brokerage business, you need more time and resources dedicated to marketing and promotion.
A good MT4 Broker CRM helps you with just that. You can manage your brokerage operations on the go and scale up easily.
You can trust us on that!
Please feel free to contact us for any queries about MT4 CRM or other information.
Wish you the best!