In the payment method settings, brokers can manage the available deposit methods for their clients. This includes the ability to create new payment methods, edit existing ones, disable specific methods, or delete payment methods that are no longer required. This flexibility allows brokers to customize the available payment options to align with their business requirements and provide a seamless deposit experience for their clients.
1. Creating New Payment Methods
To create a new payment method, please follow these steps:
Click on the "Create" button.
Select the appropriate "Platform" for the payment method. If you are setting up a manual deposit method, choose "Other". If you are setting a online deposit method / PSP deposit method, select the respective platform.
Select the icon for this payment method. Please refer to this section for more details: Payment Gateway Icon
Choose the "Client Group" that will have access to this payment method.
Enter the name of the payment method in the respective languages.
Add the accepted currencies and configure the deposit settings.
Provide a description of the payment method to provide an overview of the payment method and the deposit policies in place. You will need to fill in the description for the respective languages available.
Select "Use External Exchange Rate" if you would like to apply your own exchange rate.
Add the required deposit fields for clients to fill in:
The default fields include trading account, trading amount, payment currency, and payment amount.
To add a new field, click on "Create".
Select the field type and indicate if it is required or optional.
Fill in the field details and click on "Create Field".
Click on "Save" to save the new payment method details.
When clients deposit funds, they will have visibility of the available deposit methods along with the corresponding accepted currencies, fees, and deposit amount ranges. Clients can review this information and choose their preferred deposit method based on their preferences and requirements. Once they have selected a deposit method, they can proceed with depositing funds using that chosen method.
2. 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, follow these steps:
Locate the specific currency for which you want to set the exchange rate and click on the "Edit" button.
Select the relevant Client Group for which you want to set the exchange rate.
Choose the type of exchange rate you want to set: manual or auto.
For manual update, enter the exchange rate value manually.
For auto update, select one of the available sources:
exchangerate.host: This source is already connected with the CRM and automatically provides exchange rates.
This exchange rate updates once a day.
For currencies in international standard code, the exchange rate will be automatically generated.
Otherwise, there will be an error in retrieving the exchange rate. For such cases, you will need to manually input the source and target currency.
You can input a markup percentage. This allows you to adjust the rate based on your preferences or any additional charges involved. Once you input the desired markup, the system will calculate and display the effective exchange rate, which takes into account the markup.
MT Manager: This source allows you to use a price feed from your own MT Manager, providing exchange rates directly from your trading platform.
This exchange rate updates every 5 minutes.
You will need to specify the trading platform and symbol from which the exchange rate will be retrieved.
You can choose between the ask or bid rate depending on your preference.
Additionally, you have the option to invert the exchange rate. For example, if you are setting the exchange rate for AUD and the symbol on your trading platform is AUDUSD, you may need to invert the rate to obtain the USDAUD rate for accurate conversions.
You can input a markup percentage. This allows you to adjust the rate based on your preferences or any additional charges involved. Once you input the desired markup, the system will calculate and display the effective exchange rate, which takes into account the markup.
Liquidity Provider: This source offers an aggregated price feed from liquidity providers.
This exchange rate updates every 5 minutes.
For currencies in international standard code, the exchange rate will be automatically generated.
Otherwise, there will be an error in retrieving the exchange rate. For such cases, you will need to manually input the source and target currency.
You can input a markup percentage. This allows you to adjust the rate based on your preferences or any additional charges involved. Once you input the desired markup, the system will calculate and display the effective exchange rate, which takes into account the markup.
Finrax: This source is already connected with the CRM and automatically provides exchange rates.
This exchange rate updates every 5 minutes.
For currencies in international standard code, the exchange rate will be automatically generated.
Otherwise, there will be an error in retrieving the exchange rate. For such cases, you will need to manually input the source and target currency.
You can input a markup percentage. This allows you to adjust the rate based on your preferences or any additional charges involved. Once you input the desired markup, the system will calculate and display the effective exchange rate, which takes into account the markup.
You can set different exchange rates for different Client Groups as per your requirements. Click "Add Exchange Rate" to configure the exchange rate for another Client Group.
Select the "Display Exchange Rate" option if you want your clients to be able to see the exchange rate when depositing funds.
Click "Save" to save the exchange rate settings.
If a client attempts to deposit 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 depositing funds.
If you choose not to display the exchange rate to clients, clients will not see the exchange rate when depositing funds.
