Sirix Forex brokerages now have access to Google Analytics for free
Google Analytics is available for brokers. In just one month, the Sirix Web platform of a single Leverate client received 1.5 million visits. Also, during that month, a whopping 240,000 trades were executed, more than 2,000 users signed up after logging in as guests, and 6,000 people deposited additional funds via the deposit button. Perhaps most exciting is that the time traders who joined the social trading community spent using the platform increased by 55 percent. For this broker, social trading made a huge difference. How do we know all of this? It’s free.
Every online broker knows the traditional numbers behind its activity: volume, conversion rates, number of active accounts, deposits/withdrawals and campaign/lead measurement. This is provided by BI systems (such as LXInsight) that have thorough knowledge of your world (campaigns, accounts, instruments and trades) and let you slice and dice and run analytics on this information.
But the new generation of online brokers knows better: you must have a firm grasp of exactly what’s happening inside your trading platforms across web and all mobile devices. Just like any other digital product on the market, modern trading platforms offer a huge variety of features to the end user (social trading, plugins, news, decision making tools and more). Are you aware of the actions (and series of actions) your clients take in your trading platforms? If not, then you’re not making optimal business, marketing and product decisions.
Google Analytics can track Forex brokerage clients inside your website
Here are a few questions that most trading platforms can’t answer: How many people who took one action (ex: logged in as guest) ended up performing another action (ex: opened a demo account and then a real account)? Which trading interface leads to most order executions, the simple or the sophisticated? Does the answer change when you look at traders from different countries? Do people who use the economic calendar and news end up visiting more often and executing new orders? And how do you link all of these questions to specific populations, such as traders who arrived from a particular campaign?
Leverate decided that these questions must be answered to serve the new generation of online brokers. While it’s possible to develop an in-house analytics solution for your platform, we chose to go with the world’s most powerful tool for web analytics: Google Analytics. When we set up Sirix Web, Mobile and Tablet for a brand, it only takes a few minutes to connect them to its Google Analytics account, and everything is updated in real time. Brokers who have this kind of available data can answer almost any question about trader behavior across all platforms. And they can use it immediately to optimize the trader experience and improve their business.