The IFX Expo is the world’s largest financial business expo. It focuses on bringing together leaders in forex, banks, brokers, white label partners and affiliates to connect them with leading technology, content and liquidity providers in the retail fintech industry. Last month, the expo attracted attendees from around the world and its three days were action packed with networking opportunities, insights from leading experts, and demos of cutting edge products and technology releases.
Jerome Favresse represented our newly founded innovation unit “TC Labs” on the panel “Multi-Asset Trading in 2019.” The panel was put together to discuss how today’s online brokerages are being pushed to broaden their product offerings by the industry’s ever-changing technology and regulation needs. Could a more natural diversification of product offerings provide brokers the opportunity to be more competitive, stay abreast of an evolving industry, strengthen their business models, and ultimately, provide the best experience for their investing customers?
Moderated by Victor Golovtchenko, Senior FX Editor at Finance Magnates, the panel consisted of five leaders within the industry:
- Jerome Favresse, Managing Director, TC Labs
- Andrew Ralich, Founder and CEO, oneZero
- Lars Gottwik, Partner and CEO, JFD
- Ege Kozan, CEO, FX Cubic
- Mohamed Hajibe, Senior Head of Institutional Sales, Swissquote Bank
"The IFX International Expo demonstrated once again the vivid ecosystem of the forex online brokerage industry,” said Jerome Favresse. “I enjoyed participating in both the panel and peripheral discussions with such a strong focus on how today’s brokers can embrace innovation to create stronger relationships and engagement with their investing customers."
Throughout the panel discussion, three critical reasons for this eagerness to evolve were explored:
- The shifting tides of regulations: The past few years have witnessed many large scale changes to regulation in the Eurozone… The marketing restrictions and regional bans placed on Binary and CFD trading have shrunken what was until recently a bustling segment. More recently, the MiFID II legislative framework introduced in 2018 and the ESMA changes in 2017 which govern financial institutions have brought forth an era of transparent business models, more educational guidance for end users and muted promotion. To remain on the best of new legislation, many online brokers are searching for independent, third-party tools free of any conflict of interest and new ways to diversify their product offerings to introduce more of their customers to sustainable, long-term growth opportunities.
- “One stop shops” carry a competitive advantage: Today’s consumers are searching for a holistic investing experience. This trend creates an environment that allows brokerages with diversified product offerings to differentiate their platform as a setting that can satisfy all their customer’s trading needs. Not only has diversification been tied to an upswing in attracting new accounts, but their differentiated offerings are often tied to higher customer engagement and retention. Across the industry, investors are looking for innovative, insightful content that they can use to drive their investing decisions and those who can provide them with a premium experience will carry an extra edge.
- There’s never been a better time. It’s never been easier for online brokerages to branch out from their initial offering. The rise of new fintech entrants to partner with, new technological models, and the growing variety of APIs, has made it much easier and cost-friendly for brokers to expand their product horizons through third-party integrations and offer customers the flexibility in pricing and feature set they’re searching for.
Trading Central is here to support your transition to multi-asset:
As a premium, one stop shop for investment decision support, we firmly believe the best way to support your brokerage business is by facilitating the long-lasting success of your investing customers. We help them find and validate new opportunities, time their trades, learn about financial markets, and manage their risk. Our online broker solutions harness an award-winning fusion of automated AI analytics, beautiful user interfaces and registered investment adviser expertise. Spanning technical analysis, fundamental analysis and market news, we have the variety and dynamism you need to engage, educate and empower a loyal customer base.
What does this mean for your business? Our independent, transparent and educational content helps you build confident and educated investors, while airing on the best side of regulation. Our products offer 24H coverage of over 80,000 instruments across equities, forex, indices and commodities, ensuring we have the coverage needed to support you in every stage of your diversification efforts. Finally, our range of APIs, data feeds, plug-and-play indicators and framable UIs offer the flexibility you need to stand out and stay competitive in today’s ever-evolving financial landscape.
The best part? We’re just getting started… Book a demo now to discover the great new innovations in store for your platform.