Whether you’re a start-up broker trying to maximize the success of your launch, or an established broker ready to expand, you will need a well-thought-out, creative forex marketing strategy. 

We’ve compiled 15 focus areas that will give your brokerage the best shot at achieving long-term growth and a strong brand reputation. 

1. Target audiences

Begin with a solid foundation. Understanding your target audience is a straightforward element of effective marketing for brokers, and yet its importance is often overlooked. 

This step will have a domino effect on all other aspects of your plan. 

The more defined your target audience, the more you will be able to tailor your marketing content, framing your products and services in a way that is most appealing to their preferences. 

Ask the question: Who is your brokerage platform really for? What problem is it solving, and who is facing these problems? 

From here you can narrow down and refine your target audience segments. 

  • Start by analyzing your existing end-users and conducting market research. Look for patterns. 
  • Create end-user personas. Establish demographic details like age, gender, income level, buying behavior, and brand interaction style (e.g. how do they engage with you on social media, email, etc, and what kind of language are they using?). 
  • Check out the competition. Are there any gaps in the market that you can fill? 

This process will allow you to efficiently shape your forex marketing strategy to reach audiences with the highest potential for conversion, and also provide an optimal experience. 

2. Establishing your brand identity

There is a flood of marketing jargon, buzzwords, and ‘methods of the moment’ out there. 

Creating a brand identity is not one of them. 

Just like target audiences, defining a persona for your brand — the language, tone, colors, and style that you use — all contribute to a trader’s perception of your brand. 

Why does it matter for conversions? Consistency creates trust.

In the same way that we are more likely to trust people who behave in a consistent way, end-users gravitate towards brands that are consistent across all their touchpoints. 

Imagine that your brand is a person seated at a table with other brands. How would you describe the personality of your brand? Is it the leader at the table, steering the conversation, wearing loud clothing, and using humor and slang? Or is your brand more reserved? Perhaps it uses more formal language, wears subtle colors, and has a calm, wise, ‘sage’ presence. 

The answers to these questions will of course depend on the audiences you want to target and your desired market position.  

All of these factors need to be in sync and consistent across all communications. From the language and tone that your chatbot/customer service team uses on messengers, to promo emails and media releases from management. 

3. Investing in design to maximize engagement 

If a trader is using any form of social media or online platform regularly, they will almost certainly have developed an expectation for engaging, interactive content formats, that deliver value instantly. 

Scrolling through pages of text is now archaic — even for older demographics. To hold the attention of a trader; sophisticated analytical design to maximize engagement and UX is a must.  

This can be applied to almost all other elements of your forex broker marketing plan. We will explore different types of content where design is critical in the following steps. 

4. Educating your end-users 

Educational content is a simple way to immediately create value, with a multitude of benefits for both the broker and end-user. 

Here are some examples of the positives for brokers: 

  • A beginner trader has joined your platform. Tailored onboarding content reduces the risk of them feeling overwhelmed, which in turn may lead to them searching for another platform, or disengaging completely. 
  • Opportunity to build rapport and create a sense of community between end-users, leading to increased trust, reputation, and referrals. 
  • Showcase unique features and tools for more experienced traders. 

Using your defined target audiences from Step 1, you can create a suite of educational content. From introductory videos ‘on the basics’, infographics, and tutorials, to blogs, guest posts from experts, and news articles. The more creative the better! 

Design is very important in this step. Content must combine video, audio, and strategic use of layouts, colors, and fonts to ensure efficient and dynamic delivery of information to keep the trader engaged. 

5. Influencers for brand awareness and reach 

Think about one of the first things we do in our daily lives when we want to confirm if a person, product, or institution is trustworthy. We seek out evidence or data that suggests someone else trusts it, right? 

There is a reason that some social media influencers are remarkably successful — the endorsement method works. Trust in this environment equates to conversions. 

Using influencers to reiterate and solidify trust in your brand is a great strategic move. 

Brokers can essentially leverage the influencer’s audiences to reach more end-users and create awareness for their brand across diverse pockets of the industry. 

We will emphasize the word ‘diverse’: when selecting influencers, try to diversify and select influencers that align with your different target audience segments. 

Collaborating with influencers could involve your brokerage sponsoring their content, sponsoring them to promote your content (for example a review video or article), or supplying special incentives (like discount codes) that they can offer their audiences. 

6. Social media 

The mechanics behind social media marketing were traditionally elusive, but most users now know that they are receiving content curated by an algorithm, with a purpose. 

That being said, social media platforms are not just digital billboards for tailored advertising. They are also online communities where end-users engage directly with brands and fellow end-users. 

This creates great marketing opportunities for brokers:

  • Deliver social proofs (case studies, reviews) through channels with an organic and authentic tone 
  • Build brand reputation and rapport by participating in forums, threads, and discussions 

With the increase of AI and marketing tools, the ‘efficiency’ aspect is now much easier. We can create and schedule content much faster. 

But, this can come at the cost of authenticity. Avoid falling into the trap of sounding like AI-generated dribble on social media. 

Use an authentic tone of voice that matches your brand. (Refer to steps 1 & 2 for more guidance on this). 

This applies particularly to when you engage with your end-users on social media. Matching their tone (where appropriate) and sounding like a real human, is an excellent way to instantly build connections and brand loyalty. 

7. Search Engine Optimization (SEO)

How many of your recent decisions began with an online search? 

Brokers need to rank highly on search engines if they want to be a part of trader decisions. 

End-users have a perception that a high-ranked listing is associated with credibility and reputation. This is where SEO comes into play. Content ranks highly when it uses relevant keywords and backlinks effectively. 

Increased visibility leads to higher traffic volumes which in turn leads to higher conversions. 

8. Email

Bulk mail-outs are a veteran tool in the marketing space — and they are here to stay. 

The main benefits: 

  • Automated and personalized 
  • Measurable results
  • Target different audience segments 

Email communications are great because they are delivered directly to the trader’s inbox. 

This advantage is then met with the challenge of whether they open it or it joins thousands of other unopened marketing emails. 

Once again, strategic language is important for winning this battle. Trial different approaches. Measure the results and responsiveness, and adapt to the results. 

Use market research to determine the best time to send your emails, along with the regularity. Weekly or monthly recaps and newsletters are popular for bulk mali-outs, along with promotions and special announcements. 

Keep it simple — think about which marketing emails you personally delete or open. Is it the length of the subject line? Is it a catchy phrase in the subject line? Perhaps it’s the use of your name. 

Invest time into figuring out what works and doesn’t work for your different audiences. 

9. Public Relations (PR) campaigns and sponsorships

Forex advertising campaigns are similar to collaborating with influencers. They are 3rd party endorsements, but in this case, not limited to individuals.

Your brokerage can form strategic partnerships with other brands, companies, or events, to leverage their following and reputation, to strengthen your own. 

In this step, it becomes clear why already defining your target audiences and brand identity is a beneficial foundation. 

To lean on another human analogy: who we associate with, may influence how people perceive us. 

Choose and seek out PR opportunities wisely. Do their values and objectives align with your own? Will your end-users appreciate the partnership? Are there any audiences that your brokerage is struggling to reach — does the following of the partner brand help bridge this gap? 

Always make sure that marketing decisions align with your root objectives and established identity, so you don’t jeopardize the trust and reputation you have worked hard to create with your existing end-users. 

10. Introducing Brokers (IBs) and affiliates

Introducing Brokers (IBs) and affiliates act as intermediaries or ‘middle-men’ that connect new clients to your platform. 

An IB is an individual or company that refers its clients to your platform for a commission or pre-agreed incentive. 

Affiliates are very similar, but they normally operate in the form of an online trading site that promotes different trading products and services. For example, you may have heard of an ‘affiliate link’. 

One main benefit of this method is the ROI. Because it’s performance-based, and you only pay for a lead or referral, it’s particularly cost-effective (compared to traditional marketing, where there is no guarantee of leads). 

At the same time, it also helps with brand awareness and demonstrating trust from 3rd party industry names (if the affiliate is well-known, for example). 

11. Trading competitions and contests 

Competitions and contests are a magic marketing ingredient for brokerages. 

Brokers provide a setting where the alluring aspects of competition meet the niche knowledge required for successful trading. A dream scenario for many end-users. 

Traders can showcase their skills and win prizes, without risking any money. Meanwhile, it puts a spotlight on the broker’s brand and generates exposure to spectators, who are potential customers with a higher likelihood of conversion. 

It’s also another opportunity for brokers to get creative and stand out in the market. 

Specifics of the contests are flexible, and brokers can invent new competition concepts to draw in participants. They can even involve philanthropy or partnering with a prominent social cause. This simultaneously provides an extra incentive for the traders and strengthens the brokerage’s reputation. 

12. Social trading and money management services 

Social trading and money management services allow traders to copy or take inspiration from the trading strategies of other traders, along with sharing their own. 

They are complemented by tools for managing and tracking their investments. The most popular varieties use modern, appealing, and clean designs that make it as simple as possible for the user. 

We live in a social media-dominated era, where collaboration and ‘sharing’ are intertwined into most digital user experiences. Social trading and money management services tick this box for the trading industry. Traders can check out what the experts are doing, and share their own wins. 

What are the benefits for brokers? 

Firstly, it opens brokers up to broader audiences: this environment is less intimidating for traders with limited experience. 

Secondly, it boosts transparency and creates a user-centered atmosphere on the platform. 

They are an extremely beneficial tool for brokers to have in their marketing arsenal, combining key forex marketing strategy elements that we have discussed in other points, into one offering. 

13. Increasing retention with loyalty, referral, and bonus programs

It’s one thing to sign up new clients, but keeping them on your platform is an equally important objective to be factored into your forex marketing strategy. 

A simple cost-effective approach is implementing systems to acknowledge your end-users for choosing and recommending your platform. 

This may be in the form of a tiered loyalty program with corresponding rewards, incremental bonuses, or introducing a win-win framework to facilitate ‘word of mouth’ referrals. 

14. Attending or hosting events, conferences and seminars

Person-to-person engagement is not redundant! Networking is still a powerful tool for building partnerships in the industry.  

As a broker offering stocks, options, futures, mutual funds, or bonds, you need to provide the most advanced integration capabilities and trading tools for your traders. 

Staying up-to-date on product releases and keeping tabs on how competition is evolving will help your brokerage maintain an edge. 

Another flow-on effect of participating in industry events is that you will be kept in the loop on important industry shifts (e.g. upcoming regulatory changes). Having this knowledge may allow you to take proactive action, pre-empt outcomes, and adapt in advance. 

In addition to fostering strong B2B partnerships, events and seminars are also a great way to establish your brokerage as a subject matter expert within the trader community. Hosting events online, or in person for your end-users is a proven way to create a strong following. 

You don’t need a full-fledged research team to stay on top of market trends, but you do need to allocate some resources to this area to stay agile. 

The reality is that the underperformance or a wrong turn of one firm may be a grand opportunity for another. When a broker fails to adapt to its end-user’s needs, those end-users will look for another platform. Your brokerage needs to be ready, positioning yourself as the better alternative. 

The way to do this is through actively monitoring the market and tailoring your forex advertising campaigns in response to these movements.

Forex marketing stratedy in a nutshell

Addressing these 15 areas will create a formidable marketing plan for your brokerage. However, ‘You can lead a horse to water, but you can’t make it drink’. 

Marketing is essential for getting traders to your platform, creating trust, building a solid brand reputation and community, and providing incentives for traders to stick around and refer your brokerage. 

But, you must have a high-performance platform that offers traders the best trading environment, tools, and integrations. DXtrade has a proven reputation for doing exactly that.  

The world’s best forex marketing strategy is not sustainable long-term without a quality product. The other side of this coin is that brokerages also need to get the most out of their vendor in terms of value, pricing, and customer service. Devexperts excels in each of these areas. 

Our team is always on hand to help your brokerage out with a demo of DXtrade or discuss how our solution might be the missing puzzle piece in your brokerage’s journey to success. Reach out to us here.