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Foreign Exchange trading Registration form Analysis

Comparing the registration forms for 50 Foreign Exchange trading companies

Created by Al Mackin

How the rankings are calculated

I analysed the registration form process for 50 Forex Trade companies in March 2018. I used a single persona to go through the process up until the point of conversion.

I collated information on each process, on each step of the process and on each field. The following were the main factors on which the forms were evaluated: Time taken to complete, Number of steps, Mobile keyboard usage, Inline validation, Required field marking, Style of error messages, Where/When the error messages were shown, Presence of customer service during form fill, Password field style and additional minor features.

To build the league table score I looked at critical features of a good form. An example is having attributes that reveal the right mobile keyboard based on the type of input required. I then defined the importance of each feature and a score attributed to it.

To score the length (number of fields) and time to complete for each company I took the upper quartile across all companies, and increased the score for every percentage point that they were below the upper quartile.

Why rank form performance?

Competitive analysis is an important part of creating a great online experience, and building a great, high converting form is no different. Analysing and ranking a marketplace exposes optimisation opportunities and adds more ideas to a testing process.

Understanding your position in a market motivates you to improve, and improving your quotation form will have a significant impact on your quote volume and profitability.

What is Form Analytics and how will it help me improve my forms?

A Form Analytics platform measures user behaviour in your forms and shows you optimisation opportunities. It differs from traditional analytics (like Google Analytics or Adobe Analytics) because it's focused on how users engage with input elements. Form Analytics platforms measure each interaction with an input, from when the user focuses on the field to every click, keypress and change, and then the point at which the user exits. Formisimo is the leading Form Analytics platform used by financial services organisations like Allianz, Travelex, Capital One and Experian.

You can read more about our Form Analytics platform and how to increase the conversion rates of long forms.

We've missed you out, or you've changed your quotation form

If you'd like to be added to our league table, or if you've changed your quotation form and would like to be re-ranked, then please send an email to me. I'm happy to add websites to the table and to re-rank companies who have made changes to their processes.

Users of Formisimo include...

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"If you have forms, you need to analyze their performance. Formisimo does a very good job at providing in-depth information that really helps with optimization efforts. Useful data, simple interface. It is form analytics that actually works, especially when compared to some mouse tracking tools that have form analytics as one of the many features."
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