FXTM is continuing to revolutionize the Forex market.General BusinessUpdated on May 9, 2019 View more like this | Visit NEW YORK, NY | Contact TopAsiaFX |
With the growing popularity of cellular trading and the impact of artificial intelligence, companies such as FXTM have proven important to help industries realize the full potential of technology.
FXTM is one of the fastest growing brokers on the Forex market. In addition to expanding its customer base quickly lately, he has also won a number of awards.
Both the foreign exchange industry and technology are changing and accelerating at an unprecedented level. When regulation shifts to offset growth, brokers compete to uncover the latest technological advancements.
Because of this, most have now expanded their offerings to include trading while traveling through the mobile application. Therefore, the challenge in the competitive field of retail trade is to make a prominent application of the package.
Which concurrently adheres to regulatory changes while also meeting the needs of the new trading generation. In short, it must be an application that develops over time.
This challenge is at the heart of FXTM's technology pursuit in 2018. This brand is one of the fastest-growing brokers in recent years, with more than one million registered clients at the end of Q2 2018.
He also received wide recognition, took awards for customer service best and best trading conditions in 2017 and 2018 respectively at the World Finance Forex Awards. In addition, among brokers' main milestones last year was the release of its first mobile trading application, FXTM Trader.
But instead of hurrying to release it as soon as possible, FXTM chooses to spend time and build applications at home to ensure it is tailored to specific and local needs from a growing client base.
Agility regulation
Over the past year, the broker's readiness to change has become very important. When regulatory bodies throughout Europe and beyond adjust regulations to meet increasing privacy and communication issues, brokers must be prepared to develop for the certainty of their clients.
For example, January 2018 witnessed the introduction of the MiFID II framework, which ensured that the foreign exchange market reported and traded with transparency.
The European Market and Securities Authority (ESMA) has also implemented regulatory changes, which require brokers and those who access markets to impose trade restrictions.
This includes restrictions on contract-related products for differences (CFD) for retail clients, which are complex instruments that come with a high risk of rapid capital loss because they provide higher leverage than traditional trading.
In December 2018, ESMA announced that these restrictions - which include a leverage limit of between 30: 1 and 2: 1 - will be extended for the next three months from February 1 this year.
As more rules are implemented in 2019, obedient brokers can narrow down - potentially making clients' choices become simpler brokers.
What stands out from the crowd is FXTM, which recognizes the high level of risk involved in trading leveraged products such as Forex and CFDs, and complies with all the latest regulations for customer transparency and assurance.
For example, last year it was mandatory to promote the fact that 90 percent of European retail investor accounts lost money when trading CFDs with brokers.
In addition, all marketing materials must now come with clear messages for potential clients, urging them to consider whether they understand how CFD works and whether they are able to take the high risk of losing their money.
Fortunately, technology is available to support the way brokers adjust to the regulation. Regulatory technology, or 'reg tech', aims to address the increasing security risks associated with digital products and become more productive in this industry.
By using cloud computing, Regtech tracks online transactions, allowing deviations to be recognized in real time. Together, machine learning and data storage in the cloud allows financial institutions to identify and combat threats at an early stage.
Cellular market
In addition to the challenges, tightened regulation and increased safety have opened the door to the cellular market for many people. This is because the increase in security convinced investors that their funds were safe on cell phones and on the desktop.
Progress in cellular technology has further strengthened this; for example, the release of iPhone X in September 2017 introduced Face ID in addition to opening fingerprint locks as a new way for users to protect their mobile data.
Equipped with regulations to protect cellular clients and security measures to safeguard funds security, cellular trade is ready to continue to grow in the coming years.
This trend for growth is evident in a 2018 study conducted by JP Morgan. In a survey of 400 traders, it was found that 61 percent considered cellular trading. The percentage increased from the previous year when only 31 percent of traders considered using a trading application.
The market is rapidly meeting the growing appetite for cellphone trading. Broker-agnostic platforms including MetaTrader 4, NetDania, and Trade Interceptor have increased in popularity. With them, each broker like FXTM uses an in-house team to build and release their own trading application.
The cellular trading market targets certain demographics of the Forex trading industry. According to a study by BrokerNotes, 43.5 percent of Forex traders are aged between 25 and 34, and this number continues to increase.
This millennial market target is known for heavy telephone use. According to KDM Engineering, 43 percent of the Millennial generation checks their cellphones every 20 minutes, while the average user interacts with their cell phone more than 2,600 times a day.
Adapting to this particular demographic means meeting the needs of generations who are familiar with fast and user-friendly applications.
First-customer approach
Client services have remained a core value for FXTM since the brand foundation in 2011. In addition to the awards received from World Finance, the broker was recognized as the best customer service provider at the ninth Saudi Money Expo in 2016.
Among its impressive features is multilingual customer support, with a trained customer service representative available if the client needs any assistance.
The feedback is positive: more than 90 percent of FXTM clients are happy with their experience, according to statistics examined by PricewaterhouseCoopers. FXTM is determined to bring high standards for customer satisfaction through its mobile application after being released.
Currently, the in-house team at FXTM focuses on creating and maintaining trading applications for those who expect instant access to their favorite trading functions.
The FXTM Trader application, released in December 2018, is made after rigorous research into how FXTM traders want to interact with their best trading platforms.
The most used functions of traders are prioritized in a user-friendly and intuitive interface. The FXTM Trader navigation system has also been changed to meet and exceed the company's user-friendly design standards.
In order for the application to be very necessary, it is designed to be personal and customizable. For example, users can set up the FXTM Trader interface in a way that meets their specific trading styles and needs.
Clients can choose the instruments they want to track, choose the type of chart that is most suitable for them, and focus on the specific time frame they want to monitor.
The main statistics can be accessed in a few quick taps, displaying balances, margins, and profits on the client dashboard that is easy to use. Traders can also exchange between the administrative center and the direct market, starting from managing their account details to taking buy or sell positions in seconds.
I really hope that many Forex traders and Forex lovers will be benefited by reading this and if you have any topic in mind that you want me to cover for you then, please let me know.
FXTM is one of the fastest growing brokers on the Forex market. In addition to expanding its customer base quickly lately, he has also won a number of awards.
Both the foreign exchange industry and technology are changing and accelerating at an unprecedented level. When regulation shifts to offset growth, brokers compete to uncover the latest technological advancements.
Because of this, most have now expanded their offerings to include trading while traveling through the mobile application. Therefore, the challenge in the competitive field of retail trade is to make a prominent application of the package.
Which concurrently adheres to regulatory changes while also meeting the needs of the new trading generation. In short, it must be an application that develops over time.
This challenge is at the heart of FXTM's technology pursuit in 2018. This brand is one of the fastest-growing brokers in recent years, with more than one million registered clients at the end of Q2 2018.
He also received wide recognition, took awards for customer service best and best trading conditions in 2017 and 2018 respectively at the World Finance Forex Awards. In addition, among brokers' main milestones last year was the release of its first mobile trading application, FXTM Trader.
But instead of hurrying to release it as soon as possible, FXTM chooses to spend time and build applications at home to ensure it is tailored to specific and local needs from a growing client base.
Agility regulation
Over the past year, the broker's readiness to change has become very important. When regulatory bodies throughout Europe and beyond adjust regulations to meet increasing privacy and communication issues, brokers must be prepared to develop for the certainty of their clients.
For example, January 2018 witnessed the introduction of the MiFID II framework, which ensured that the foreign exchange market reported and traded with transparency.
The European Market and Securities Authority (ESMA) has also implemented regulatory changes, which require brokers and those who access markets to impose trade restrictions.
This includes restrictions on contract-related products for differences (CFD) for retail clients, which are complex instruments that come with a high risk of rapid capital loss because they provide higher leverage than traditional trading.
In December 2018, ESMA announced that these restrictions - which include a leverage limit of between 30: 1 and 2: 1 - will be extended for the next three months from February 1 this year.
As more rules are implemented in 2019, obedient brokers can narrow down - potentially making clients' choices become simpler brokers.
What stands out from the crowd is FXTM, which recognizes the high level of risk involved in trading leveraged products such as Forex and CFDs, and complies with all the latest regulations for customer transparency and assurance.
For example, last year it was mandatory to promote the fact that 90 percent of European retail investor accounts lost money when trading CFDs with brokers.
In addition, all marketing materials must now come with clear messages for potential clients, urging them to consider whether they understand how CFD works and whether they are able to take the high risk of losing their money.
Fortunately, technology is available to support the way brokers adjust to the regulation. Regulatory technology, or 'reg tech', aims to address the increasing security risks associated with digital products and become more productive in this industry.
By using cloud computing, Regtech tracks online transactions, allowing deviations to be recognized in real time. Together, machine learning and data storage in the cloud allows financial institutions to identify and combat threats at an early stage.
Cellular market
In addition to the challenges, tightened regulation and increased safety have opened the door to the cellular market for many people. This is because the increase in security convinced investors that their funds were safe on cell phones and on the desktop.
Progress in cellular technology has further strengthened this; for example, the release of iPhone X in September 2017 introduced Face ID in addition to opening fingerprint locks as a new way for users to protect their mobile data.
Equipped with regulations to protect cellular clients and security measures to safeguard funds security, cellular trade is ready to continue to grow in the coming years.
This trend for growth is evident in a 2018 study conducted by JP Morgan. In a survey of 400 traders, it was found that 61 percent considered cellular trading. The percentage increased from the previous year when only 31 percent of traders considered using a trading application.
The market is rapidly meeting the growing appetite for cellphone trading. Broker-agnostic platforms including MetaTrader 4, NetDania, and Trade Interceptor have increased in popularity. With them, each broker like FXTM uses an in-house team to build and release their own trading application.
The cellular trading market targets certain demographics of the Forex trading industry. According to a study by BrokerNotes, 43.5 percent of Forex traders are aged between 25 and 34, and this number continues to increase.
This millennial market target is known for heavy telephone use. According to KDM Engineering, 43 percent of the Millennial generation checks their cellphones every 20 minutes, while the average user interacts with their cell phone more than 2,600 times a day.
Adapting to this particular demographic means meeting the needs of generations who are familiar with fast and user-friendly applications.
First-customer approach
Client services have remained a core value for FXTM since the brand foundation in 2011. In addition to the awards received from World Finance, the broker was recognized as the best customer service provider at the ninth Saudi Money Expo in 2016.
Among its impressive features is multilingual customer support, with a trained customer service representative available if the client needs any assistance.
The feedback is positive: more than 90 percent of FXTM clients are happy with their experience, according to statistics examined by PricewaterhouseCoopers. FXTM is determined to bring high standards for customer satisfaction through its mobile application after being released.
Currently, the in-house team at FXTM focuses on creating and maintaining trading applications for those who expect instant access to their favorite trading functions.
The FXTM Trader application, released in December 2018, is made after rigorous research into how FXTM traders want to interact with their best trading platforms.
The most used functions of traders are prioritized in a user-friendly and intuitive interface. The FXTM Trader navigation system has also been changed to meet and exceed the company's user-friendly design standards.
In order for the application to be very necessary, it is designed to be personal and customizable. For example, users can set up the FXTM Trader interface in a way that meets their specific trading styles and needs.
Clients can choose the instruments they want to track, choose the type of chart that is most suitable for them, and focus on the specific time frame they want to monitor.
The main statistics can be accessed in a few quick taps, displaying balances, margins, and profits on the client dashboard that is easy to use. Traders can also exchange between the administrative center and the direct market, starting from managing their account details to taking buy or sell positions in seconds.
I really hope that many Forex traders and Forex lovers will be benefited by reading this and if you have any topic in mind that you want me to cover for you then, please let me know.
