The forex market is the world’s largest marketplace. It attracts all types of traders from all walks of life in different languages and different regulations. In the US, currencies trading is regulated by the Commodities and Futures Trading Commission (CFTC), Securities Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA), which is the registrar forex brokers in the country. All these bodies affect forex trading in the United States differently. 

In other countries like the UK, the Financial Conduct Authority (FCA) is the main regulator, while the Cyprus Securities Exchange Commission (CySEC) takes charge in Cyprus and a host of other EU member countries. The general overseer of financial trading in the EU region is Markets in Financial Instruments Directive (MiFID), which has been in operation since 2007. 

As such, in the EU, it is possible to come across a broker that operates in several markets within the region. Yet, most of the countries speak different languages. So, how do brokers overcome the multi-lingual challenge that faces them when rolling their products in multiple countries? This is where language localization comes in.

What is language localization in forex?

Language localization is the first step that every forex broker with multiple operations in different countries must take to make their services user friendly. It basically means adapting your services to the locally spoken language in the region or territory that you want to target. 

Adapting your brokerage services to a local language means more than just translating your website. To be thorough, the broker must also hire customer support staff that can speak the local language fluently. This helps the broker to serve the customers better by understanding their inquiries.

For instance, Valutahandelblogg.com is a swedish-based forex website that reviews the best online brokers. This platform provides its services both in Swedish and English languages. By doing so, it makes it more user friendly for customers that want to read the reviews of online forex brokers that provide services in Sweden. 

It would be awkward for a swede to read a review of a Sweden-based broker in English when looking to invest. It makes more sense for a forex reviews website to address the market in the same language that the broker reviewed will be speaking to its customers in.

Implementing a multi-lingual forex trading service also requires brokers to do a thorough analysis before launch. It is important to assess your targeted markets, the popular trading instruments in the country or region, as well as, some cultural differences. You do not want to launch a service that could infringe on the cultural beliefs and principles of your targeted customers. 

For instance, it would be in vain to translate your regular trading accounts, which attract swap fees and overnight charges in an Islamic country. Also, when translating your forex trading website, it is important to have professionally translated. This shows commitment and the desire to remain professional regardless of your client location.

Conclusion

In summary, language localization is an important aspect of forex trading. Nearly, every credible broker provides its services in multiple languages. Some even have created completely new websites for specific locations to ensure that they are in total compliance with local rules and regulations.