Transfer Settings
Here, brokers can configure the following:
Exchange Rates
Transfer Settings
A. Setting Up Transfer Settings
Brokers have the option to control whether the source or target account of a transfer can be the CRM wallet or trading account. This provides brokers with greater control and flexibility in managing fund transfers and aligning them with their specific business requirements and preferences.
They can configure this for both "Internal Transfer" and "Third Party Transfers".
To do so, follow these steps:
Under "Internal Transfer" or "Third Party Transfer", click on the "Edit" icon.
Select or de-select the following options:
Wallet
Trading Account
By selecting either or both of these options, you are indicating whether transfers to or from the CRM wallet or trading accounts are allowed for source and target accounts.
Once you have made your selection(s), click on the save icon to save your changes.
B. Application
If you set both the Source Account and Target Account to CRM Wallet only, clients will only see their wallet as the available option when making a transfer — for both the source and target account.
If you set them to Trading Accounts only, clients will only see their trading accounts, and the wallet option will not be displayed.
In essence, the dropdown menus for Source Account and Target Account during a transfer will reflect the configuration set in your Transfer Settings. Clients will only see the account types (CRM Wallet or Trading Account) that you have allowed as valid source and target accounts.
Third Party Transfer
In the Third Party Transfer 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.
A. Enable or Disable Third Party Transfer
To allow or disallow clients from transferring funds to third parties:
Click the "Edit" icon.
You can toggle the "Enable/Disable" button according to your preference.
Click "Save".
If you choose to allow clients to do third party transfers, it is recommended to set up a transfer agreement to ensure clients understand the associated policies and risks. You can find a quick link to the Agreement Setup 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.
B. Application
If you enable third-party transfers for clients, they will have the option to choose between internal transfer or third party transfer.
However, if you disable third party transfers, clients will not be able to see "Third Party Transfer" as an option. They will only see "Internal Transfer".
B. Transfer Permissions
You can configure fund transfer permissions with precision, allowing clients to transfer funds to specific individuals, direct downlines, or all downlines within a permitted IB network. This ensures tighter control while preserving flexibility.
To do so, follow these steps:
Edit Third Party Transfer Settings
Click the "Edit" icon.
Select the allowed recipients for third-party transfers:
Any Client: Third-party transfers can be made to any client.
Direct Downlines: Third-party transfers can only be made to the client’s direct downlines.
Downlines with Data Permission Settings: Third-party transfers can only be made to the client’s direct or indirect downlines, as long as they are within the client’s data permissions.
Data Permission refers to the permissions configured for the Client Group.
D) Application
Application - Third Party Transfers to Any Client
Your client will need to provide the required details.
Once completed, click "Submit."
Read and acknowledge the Third Party Transfer Agreement.
The transfer request will then be submitted for processing.
Application - Third Party Transfers Allowed to Direct Downlines Only
Your client will need to provide the required details.
For the Beneficiary Name, your client can select a direct downline from the dropdown menu. The list will only display their direct downlines.
If a name outside of the direct downlines is entered, the system will show "No Results".
Once completed, click "Submit".
Read and acknowledge the Third Party Transfer Agreement.
The transfer request will then be submitted for processing.
Application - Third Party Transfer Allowed to Downlines within Data Permission Settings
Your client will need to provide the required details.
For the Beneficiary Name, your client can select a downline from the dropdown menu. The list will display only the downlines within the data permission settings you have set for them.
If a name outside these permissions is entered, the system will display "No Results."
Once completed, click "Submit".
Read and acknowledge the Third Party Transfer Agreement.
The transfer request will then be submitted for processing.
Transfer Amount Limit
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.
A. Setting Up Transfer Amount Limit
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.
B. Application
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.
Exchange Rates
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
A. Application
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.
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