If there’s one thing forex brokers love, it’s volatility in the markets. And the last 18 months has certainly seen its fair share of that. Over these months, several brokers have reported significant increases in turnover, attributing their success to various strategic initiatives. Let’s delve into the forex marketing approaches that have helped them increase their turnover.
#1 Plus500: Expanding Horizons and Diversifying Offerings
In 2024, Plus500 reported a 6% increase in revenue, reaching $768.3 million. The company added over 118,000 new users, marking a 30% growth in its customer base. This growth is attributed to its transformation into a multi-asset platform and expansion into new markets, including Japan and the UAE.
Key Points
- Plus500 strengthened their position in MENA by obtaining the DFSA license, helping instil confidence in UAE traders.
- Customer retention metrics showed that 67% of OTC revenue came from customers who have maintained accounts for more than three years.
Actionable Takeaway: To expand into new regions your forex marketing should localise their forex marketing by adapting language, cultural nuances, and regulatory compliance to resonate with the target audience. Leveraging regional influencers, localised educational content, and geo-targeted advertising can effectively attract and convert new traders.
#2 XTB: Leveraging Client Growth and Product Diversification
XTB experienced a substantial increase in its client base, surpassing 1.36 million clients by the end of 2024. The company’s revenue rose to approximately $445 million, with significant contributions from commodity-based CFDs (48%) and index-based CFDs (33.3%). This diversification in product offerings played a crucial role in its revenue growth.
Key Points
- Even though the majority of trades are on the EUR/USD, offering a diverse range of tradable assets is crucial to attracting clients and increasing volumes
- Multiple asset classes allows brokers to upsell and retain clients under a variety of market conditions.
Actionable Takeaway: Daily market updates keep your traders informed and engaged. Offering your own, branded outlooks and analyses allows for more data-driven targeting. Check out how Contentworks helps this broker keep their clients trading daily.
#3 Axi: Investing in Technology and Enhancing Trading Volume
Axi Financial Services reported a 41.7% increase in revenue, totalling $38.96 million in 2024. The company’s profit also surged by 89.7% to $3.92 million. This growth is attributed to significant investments in technology and an increase in trading volume, demonstrating the impact of technological advancements on operational efficiency.
Key Points
- Forex brokers are essentially fintechs and need to stay ahead of the technology curve.
- Offering robust and protected trading environment, adhering to DORA regulations is critical.
Actionable Takeaway: Handy ‘how to guides’ and short-form videos are a great way to help your traders familiarise themselves with your platform. It also takes the weight off your customer support team.
#4 MultiBank Group: Global Expansion and Operational Efficiency
MultiBank Group achieved an 18% increase in revenue, reaching $361.8 million in 2024. The company’s EBITDA grew by 24.5% to $284.91 million. Serving over 2 million traders across more than 100 countries, MultiBank attributes its success to global expansion and a commitment to operational efficiency.
Actionable Takeaway: Servicing millions of traders around the world needs efficient processes, from payment offerings to marketing and sales efforts. Brokers should focus on serving their core markets and expanding gradually over time as MultiBank has.
#5 Sucden Financial: Strengthening Profit Margins
Sucden Financial reported a 22.1% increase in net revenue, totalling £85.2 million in 2024. The company’s pre-tax profit surged by 54.6% to £36.7 million. This growth reflects the firm’s focus on enhancing profit margins and expanding its client base.
Marc Bailey, Chief Executive Officer said:
Our prudent organic growth strategy and significant investments in technology mean we are able to offer clients a growing range of services across FX, fixed income, and commodities markets globally.
Actionable Takeaway: Growing organically goes hand-in-hand with strategic organic marketing efforts that build trust, visibility, and long-term engagement without relying heavily on paid channels. SEO-optimised blogs help attract and educate potential traders through valuable, keyword-rich content that ranks well on search engines. Public relations (PR) initiatives boost credibility by securing media coverage, thought leadership articles, and mentions in reputable industry publications. Local corporate social responsibility (CSR) activities enhance brand reputation by demonstrating commitment to community development and social impact in key markets. Additionally, a consistent multi-channel approach across social media, email, websites, and offline, reinforces brand identity.
#6 FxPro UK: Capitalising on Market Volatility
FxPro UK’s trading volume jumped by 70% in 2024, handling $80 billion in notional trading volume. The revenue increased by 42% to £1.94 million. The company attributes this growth to heightened market volatility, particularly due to geopolitical events, which led to increased client activity across multiple asset classes.
Actionable Takeaway: Forex brokers can capitalise on market volatility by promoting educational content and tools that help traders navigate rapid price movements confidently. Highlighting real-time analytics, tight spreads, and fast execution in marketing campaigns can attract active traders seeking to profit from volatile conditions.
#7 NAGA Group: Achieving Financial Sustainability through Strategic Mergers
In 2024, NAGA Group reported €62 million in revenue and achieved cash break-even for the first time. The company’s focus on organic growth, internal financing, and strategic mergers, such as the reverse merger with CAPEX Group, played a pivotal role in reaching financial sustainability.
Takeaway: Merging two or more brands takes careful consideration and strategic PR to get the desired result. When merging two brands, focus on creating a unified brand identity that honours the strengths and values of both entities to build trust and continuity. Communicate clearly and consistently across all channels to manage customer expectations and reinforce the benefits of the merger.
#8 Alpha Group: Expanding Client Base and Service Offerings
Alpha Group International’s revenue increased by 23% to £135 million in 2024. The company’s total income rose to £221 million, including £85 million in interest income. The acquisition of Cobase and the subsequent 70% revenue growth in that unit highlight Alpha Group’s strategic expansion of its service offerings and client base.
Takeaway: Alpha’s strategic move to acquire Cobase, a cloud-based provider, means they can manage their banking relationships, accounts, and transaction activity via one single interface. Streamlined services in the background equals happy clients who can stay focused on trading.
* Broker turnover information sourced from Finance Magnates and Wikipedia.
Forex Marketing Takeaways
A combination of strategic and structured activities are key.
- Market Expansion: Entering new geographic markets has been a significant driver of growth for brokers like Plus500 and MultiBank Group.
- Product Diversification: Offering a broader range of financial instruments, as seen with XTB and Alpha Group, has helped attract diverse client segments.
- Technological Investment: Investing in technology and platform enhancements has improved operational efficiency and client experience, contributing to revenue growth for companies like Axi.
- Strategic Mergers and Acquisitions: M&A activities, such as NAGA Group’s merger with CAPEX, have facilitated financial sustainability and expanded service offerings.
- Responsive to Market Conditions: Brokers like FxPro UK have capitalized on market volatility to increase trading volumes and revenue.
Looking for a financial content agency to help increase your turnover? Set up a call with the expert team at Contentworks to discuss forex marketing solutions.