Common CRM Myths Debunked

Common CRM Myths Debunked

CRM is relatively new compared to the idea of business and the world of trading. Even though online trading and stock exchange markets such as Forex have become extremely popular only in the past couple of decades, some business owners and brokerages are still unfamiliar with the idea of Customer Relationship Management and its benefits for their companies. Therefore, they tend to believe and spread any piece of information they come across either in person or on the internet. For the sake of this article, we will be referring to these false pieces of information as “Myths.”

Unfortunately, there are some myths that are believed by most business people, and worst of all, business owners all around the world that really stop them from fully exploiting the capabilities of a CRM system and taking advantage of their usefulness fully and properly.

In this article, we will be looking at a number of these myths and then explain why they are wrong and must not be believed.


1. CRM is unnecessary for small brokerages

If you believe in this myth and you have not read any of our previous articles, I strongly advise that you have a look at them from the following link:

After reading a little bit about what CRM is and what it does, you will realize that the size of a business, the number of its clients, or even the number of its employees for that matter is completely irrelevant to whether it is necessary for a company to use a CRM system or not.

CRM is a tool that helps you improve the quality of your services that are delivered to your customers. Of course, it can also assist you with reaching out to more potential customers through different campaigns and eventually attract more clients to your business, but at the end of the day, it is your standards and the level of your work that appeals to people.

So, any brokerage business, no matter how small, should use and benefit from a CRM system in order to provide better and more personalized services to their clients and consequently grow to become a world-renowned brand.


2. A CRM system is just going to add to your costs

It is obvious that implementing any new system into your business, making it work like a clock, and making sure it is highly compatible with your other apps and programs will definitely require some money; that is apart from the money you might need to spend on training your staff so that they could work with it more efficiently, paying for post-purchase services, annual renewals and so on.

However, as a broker, you need to look at this from a different perspective. Buying a CRM for any business, especially for brokerage companies, is not a cost; it is an investment. In fact, it is one of the best types of investment you can make for your brokerage company. In order to have a better understanding of why every online brokerage and foreign exchange platform needs a CRM system, you can read our article on that here:

Moreover, recent studies have shown that this type of investment has a really high ROI (Return on Investment). Not only does it automate tasks for you so that you will not need to employ more people to do the job, but it also enables you to customize your services for your clients and increase their level of satisfaction. As a result, they will become your loyal promoters and will advertise for your brand free of charge.

So, if you really think about it, in the long run, this “cost” will end up benefiting you in two major ways: first, you will be paying fewer employees, and second, you will acquire more clients and investors in time.


3. A CRM will not work properly with your other platforms or apps

Wrong! This might have been true for very early versions of some CRM. However, developers found out what the problem was and fixed it very quickly.

Good CRM systems that you get from reliable providers such as Click CRM can easily be integrated with your platform. The integration is effortless, and you can use the CRM system to match all of your third-party service providers, including VOIP, affiliates, payment providers, trading platforms, email, and SMS marketing. Plus, these CRMs that you get are white-label. This means that you can add or omit any features that you wish. This amazing feature will allow your brand to shine on top of every tool. It is going to be all about your brand, your logo, your specific requirements, and of course, your success.

In addition to all of these, most CRM systems these days are equipped with either MT4 or MT5, which are two of the most reliable, most popular, and most powerful trading platforms all around the world. So, rest assured that as a brokerage, you will not run into any problems, especially with integrations.


4. Most CRMs work similarly to each other, and there is not a lot of variety

This myth is not quite accurate either. With little research and education, anyone can realize that CRM systems are completely customizable. From dashboards to the tools you use, from contacts to what your users can see on their screens; everything totally depends on you and how things are sorted out. You can even give different levels of access to different people at your company in case you do not wish some of your staff members to see the confidential files.

A good CRM system will allow you to set everything in a way that you are most comfortable with. Your sales and marketing team members can choose what to see, which contact to call first or last, and even who to disregard. All the tools and features of a CRM can be organized in order to suit the needs of your company.



Due to the lack of knowledge among some businesses and also clients, CRM systems have been the victim of a number of unfounded yet popular beliefs. In this article, we called these beliefs “Myths,” and we tried to explain why they are not true.