Transfer Settings
Last updated
Last updated
In the Transfer Settings tab, brokers have the option to control whether the source or target account of a transfer can be the CRM wallet. If brokers choose to disallow funds from being transferred to or from the CRM wallet, they can easily disable this feature within the transfer settings. This provides brokers with greater control and flexibility in managing fund transfers and aligning them with their specific business requirements and preferences.
Here, brokers can configure the following:
Exchange Rates
To enable or disable transfers to or from the CRM wallet, follow these steps:
Click on the "Edit" icon.
Select or de-select the following options:
The source account can be wallet
The target account can be wallet
By selecting either or both of these options, you are indicating whether transfers to or from the CRM wallet are allowed.
Once you have made your selection(s), click on the save icon to save your changes.
If you enable transfers to or from the CRM wallet in the Transfer Settings, it means that clients will have the option to select the CRM wallet as the source or target account when making transfers.
On the other hand, if you disable transfers to or from the CRM wallet, clients will only be able to see their trading accounts as options when making transfers. The CRM wallet will not be available as a selectable account for transfers.
In the Transfer to Others settings, brokers can choose to allow or disallow clients from transferring funds to third parties. This setting gives brokers control over whether clients can initiate transfers to external accounts or limit transfers to only internal accounts.
To allow or disallow clients from transferring funds to third parties, you can easily toggle the "Enable/Disable" button according to your preference.
If you choose to allow clients to transfer funds to third parties, it is recommended to set up a transfer agreement to ensure clients understand the associated policies and risks. In the Transfer to Others tab, you can find a quick link to the Risk Agreement tab (please refer to this section for more details: Client Portal - Risk Agreement). This helps establish clarity and transparency between the broker and the client regarding the terms and conditions of transferring funds to third parties.
If you enable third-party transactions for clients, they will have the option to choose between transferring funds to their own accounts or to other parties when making transfers.
However, if you disable this option, clients will not see the selection for transferring to others and will only be able to transfer funds to their own accounts.
In the transfer amount limit settings, you have the flexibility to set the minimum and maximum transfer amounts for different currencies. You can customize the transfer amount limits separately for transfers to the client's own account and transfers to third parties.
By default, the currencies that you offer will be displayed, and you can adjust the limits accordingly for each currency. The available currencies will depend on the account base currencies that you have made available on your trading platform for your clients.
To set up transfer amount limits, follow these steps:
Click on the "Edit" icon.
Set the minimum and maximum amounts for each currency. You can configure these limits separately for transfers to the client's own account and transfers to third parties. If you have disabled the transfer to others functionality, you only need to set the transfer amount limit for transfers to the client's own account.
Click "Save" to save the changes.
If a client attempts to transfer an amount that is below the specified minimum amount, an error message will be displayed, notifying the client that the transfer must be for an amount greater than the minimum limit.
Similarly, if a client tries to transfer an amount that exceeds the specified maximum amount, an error message will be shown, informing the client to transfer an amount that is within the maximum limit.
In the Exchange Rates settings, you have the option to set the exchange rates for the currencies accepted. You also have the flexibility to set different exchange rates for the currencies accepted based on different Client Groups.
By assigning specific exchange rates for each Client Group, you can customize the currency conversion rates according to their specific needs or business requirements. This feature allows you to cater to different client segments or regions that may have varying exchange rate preferences or pricing structures.
To set the exchange rate for your currencies, please refer to this section: Exchange Rates
If a client attempts to transfer funds in a currency for which the exchange rate has not been configured, the CRM system will display an error message to inform the client about the missing exchange rate. The error message will prompt the client to contact you, indicating that they need assistance in setting up the exchange rate for the respective currency.
If the exchange rate is configured in the CRM system and you have chosen to allow the display of exchange rates to clients, they will indeed be able to see the conversion rate when withdrawing funds.
If you choose not to display the exchange rate to clients, clients will not see the exchange rate when withdrawing funds.
