FX Back Office – Have They Got Your Back?
FX Back Office is a mid-sized firm operating in the online trading industry. Founded by a team of experienced Forex and CFD professionals, FX Back Office has been partnering with some well-known names in the industry. Some of them are: Skrill, Neteller, Praxis, Tools For Brokers, Tradesocio and others. The subject of this review will be two of the company’s products, namely the Client cabinet and the IB & Affiliate area.
FX Back Office Client Cabinet
The Client Cabinet is just another name given to the platform a trader uses on a daily basis to interact with its broker. The client area that FX Back Office has made for its clients is reliable, yet intuitive and easy to use.
The Accounts section is where one can request the opening of new live and demo accounts, request a change in leverage, make internal transfers between trading accounts and so on. A subsection provides detailed information about each open and pending account of the user. Despite its tabular view, this part contains most of the functions a trader might need. Still, a slightly more interactive view could help give it a more definitive and maybe fancier look.
The Funds section is designed for deposits, withdrawals and transfer of money between a client’s accounts. The payment details area shows that FX Back Office gives traders the chance to carry out their transactions in various ways. These include, but are not limited to: credit/debit card, bank wire, Skrill, Neteller and Webmoney. The transaction history functionality definitely needs some filters to be added. As it stands, it is fairly hard for a client to keep track of his transactions.
The Profile section is the place where traders upload and update their documents, log tickets in case of an issue, send to and receive messages from the broker, store the different agreements they have signed and more.
Apart from the main functionalities described above, the Client’s cabinet has a few extras that make the user experience better. The downloads section is the place where traders can download the MT4 and MT5 platforms for Android, iOS and Windows. In addition, there is an entire tab with videos teaching how the MetaTrader platform works and demonstrating its features. An economic calendar and a trading calculator add up to the overall good user experience.
The IB & Affiliate Area
The introducing brokers and affiliates area is the module that IBs use to create and manage their campaigns; track referrals and their traded volumes; scrutinize how their commissions are doing; monitor and control the performance of different campaigns and so on. In our view, FX Back Office has done a good job as far as the functionationality of this platform are concerned. The design, however, could really do with more work.
Liking this review so far? Check out Our Services to see how we can help You!
The dashboard provides a quick snapshot on the trading activity of referrals. It provides a full breakdown of the deals that have earned the rebates. The actual commissions breakdown can be further traced by accounts and by trades. All these options prove to be positive for IBs, as it is always good for them to have maximum transparency, so that they are 100% in a broker’s fair practice.
The Performance Dashboard gives a graphic representation of registrations, volumes and commissions.
The platform provides a wide range of banners and tracking links for campaigns. This is great news for affiliates and introducing brokers, as it gives them maximum flexibility to make their marketing campaigns and thus makes it easier to attract clients.
Security
Founded by an experienced team of professionals in the Forex and CFD industry, FX Back Office knows the importance of data security well. Both the Client cabinet and the IB & Affiliate area are secure platforms with solid architecture. Data encryption protects sensitive information. Clients are encouraged to use the two-factor authentication to log into the system. Powered by Google Authenticator, this functionality adds an extra layer of security to the platform.
Customer Support
FX Back Office provides a multi-language customer support service via phone, Skype and email. Judging by experience, the team has always been professional in addressing even more difficult inquiries. In case of urgent issues, it is always better to call the 24/7 technical support team. By no means are we claiming that there is latency in the handling of requests via the other communication channels. In fact, these guys respond to emails really fast too.
Final Thoughts
FX Back Office has put decent efforts into developing the two platforms we are assessing in this review. The client’s cabinet, light and intuitive, provides clients with the most important functionalities they need to effectively interact with their broker. The IB & Affiliate area gives introducing brokers the necessary framework to monitor and control every aspect of their business. While both platforms have some really good functions, in our view, the company should focus more on their design and on bringing automatization to a higher level.
FTT Score
Based on the review above, on the scale from 1 to 10, our FinTechTycoon expert score is a tepid
5.
Did you find our review useful? Check out Our Services and see how we can help!
