The Retail FX Industry has gotten a lot more competitive and brokers are under a lot more scrutiny. To maintain their edge and increase profitability brokers need advanced tools and partners that can help them achieve this. At Tripeak we have a number of tools that have been an important factor in the success of many of our clients.  One of the most important tools is the Tripeak Broker Portal. This is a comprehensive and well-rounded technology package that gives you full control over your business. Whether it’s controlling your volume, commissions, spreads or tradeable assets – everything is instantly configurable and accessible with a click of a mouse and provides a real-time overview of risk, balance, equity, commissions and profit/loss.

The Broker Portal Dashboard will give you a clear picture of how your brokerage is performing with a macro level view of profits made since inception, current balance and equity, used and free margin and more.

Risk is a very import factor for a retail brokerage company and in order to successfully manage risk you need to be able to monitor risk. The portal will allow you to view risk in real time to determine the unrealized profit or loss on currency pairs in US dollar terms, as well quote currency. You can see volume, average price, current market rate.

You can also drill down and monitor exposure in individual currencies which is an important factor to help you manage risk much more effectively.

The Portal also allows you to manage your progress by examining the changes in equity, commissions, and realized profits/losses.  You will be able to choose between multiple accounts and to set the beginning and starting date to view the changes in the beginning balance and equity, commissions and commission adjustments, realized profit/loss, rollover, withdrawals, deposits, floating profit/loss, broker profit, ending balance and ending equity. In addition, you can use this tab to download detailed historic reports in various formats.

In the Retail FX space volume is often synonymous with profits, assuming everything else in your brokerage is being managed well. The portal will allow you to look at your different business segments and figure out what’s working and what needs help. You can select the asset you are interested in, and see which instruments are being traded, the number of trades in standard lots, base currency, unit volume and total notional volume for that instrument.

In the Broker Portal we have designed a special feature that allows you to create your MT4 managers and groups. With these groups, you can then determine their leverage, minimum/maximum lot size, and trading capabilities. You can select whether the new group will be an STP, Dealing Desk or Demo trading group, the deposit currency and whether rollover charges will be charged to your clients or not. With MT4 groups, you can also choose which asset class will be tradeable through the group – FX, metals or CFDs – as well as the minimum and maximum lot sizes that your clients can take. In addition, MT4 groups allow you to determine at which margin levels will your customers be notified that they are close to being liquidated, and finally stopped out.

You are also able to determine the group revenue streams for the MT4 group. Here you will manage the spreads for each of the active asset classes in your group, and decide whether you want to add an additional markup to the spread or charge commissions. In addition, you can set rebates that you are paying to your introducing brokers in the “FX, Metals and CFD Agent Commissions” field.

Everything in the broker portal is about making better decisions, which is what is required to run a successful business. The other factor that is hugely helpful to running your business is the CRM capability.

The XW Backoffice CRM feature of Tripeak empowers entire companies to be able to run themselves more efficiently. We have seen how CRM technology has affected nearly every industry, and to democratize it like this program does makes it possible for all these companies to exist and scale themselves quickly.

Dealing with customers is simple on a small scale, but it becomes more difficult as you start to deal with an increasing number of new clients every day. That is why we’ve created a system to help you, as no one can have more than a certain number of friends before they start to forget things about them and lose their relationship maintaining ability.

From the broker portal to the CRM technology, Tripeak is a great partner that can help you start a successful brokerage business or grow an existing business. We have the tools and the support to help you maximize your profits. Partner with one of the leading FX technology companies and let us help you grow.

If you have any questions at all please contact me: lfayman@Tripeak.com for more information

The post What Tools Do You Need to Manage your FX Brokerage… appeared first on Tripeak.

The era of internet and globalization has made it easier than ever to create aspiring online businesses with a global audience. Among these booming businesses that have benefited from the technological development are forex brokers. The forex market offers tremendous opportunities for entrepreneurs looking to enter the largest financial market in the world, with a daily turnover of more than $5 trillion and a growing number of retail forex traders around the world.

Now might be the best time to open an offshore forex brokerage – don’t miss the opportunity! According to the joint Forex Industry Report by LeapRate and Dow Jones, retail forex trading reached a daily trading volume of $185 billion in 2011, experiencing a stunning growth from under $10 billion per day in 2001.

Today, there are thousands of online Forex brokers available and their number is only increasing. While many of them have found their edge to operate efficiently and make a profit in this competitive market, there is also a number of brokers that cannot keep up with the competition and have to leave the market in the long-run.

This is the point where you want a reliable partner that not only helps you establish a brokerage, but also takes care about the technology, trading platforms, and gives you world-class customer support around the clock. Opening a forex brokerage is like a journey, and Tripeak could be your guide.

Where to Open Your Offshore Brokerage?

Among the many decisions to make when opening a forex brokerage, the one concerning where to base your company is one of the most important. The initial work involved in establishing a company and the legal framework around it present major hassles that every new forex broker faces. Choosing the right jurisdiction where to incorporate your company is the first step towards establishing a successful forex brokerage.

While some brokers opt for more established countries like the United Kingdom and Cyprus, the ease and low cost of establishing an offshore corporation in countries like Saint Vincent and the Grenadines, Vanuatu, Cayman Islands and even republic of Georgia attract an increasing number of new brokerages.

Among these countries, Saint Vincent and the Grenadines proved to be the best option with the lowest initial capital requirements.

Tax Havens

Many of these countries are tax havens and feature tax rates that are practically at zero, with Saint Vincent and the Grenadines emerging as an especially popular destination for opening offshore companies. The country was removed from OECD’s “grey” list of non-transparent tax jurisdictions in 2010, but has not yet signed a Tax Information Exchange Agreement with the or Canada, which means that your confidential information is protected from the US and Canadian authorities.

No Restriction on Leverage

Financial companies established in any offshore venues, including forex brokerages, do not have a leverage restriction on their services. You can offer any leverage you want to your clients, and concentrate entirely on offering the best possible user experience instead of worrying about strict financial regulations.

How can Tripeak Help?

Tripeak will take care of all the paperwork required for opening your forex brokerage in the venue of your choice to help you fast track your brokerage setup. All you need is to take care of your clients and business, while Tripeak takes care of the offshore company formation, technology, trading platforms, deep liquidity pools, and offers top-notch customer support to your business along the way.

Our services include:

• The complete offshore company formation in the venue of your choice, including all paperwork and obtaining any necessary licenses
• The formation of an E-Wallet/Bank for accepting client deposits
• Setting up a PSP service (Payment Service Provider) for the acceptance of client credit cards
• Fully apostilled documents

Tripeak also offers several packages which each offer varying amounts of features and services.

Whether you choose our FXStarter Kit Select, Deluxe or Supreme, you can depend on our experience in the forex business and 24/6 customer support.

Our FXStarter Kit Select does not require any upfront payments, making it unique in the market. This package is ideal for entrepreneurs who want to start a small FX business and grow into a future white label.

More ambitious entrepreneurs, who also want a custom branded trading platform and a host of additional services including incorporation and corporate bank accounts, can select our FXStarter Kit Deluxe and FXStarter Kit Supreme packages.

For more information about pricing and opening up a brokerage with Tripeak, you can visit www.Tripeak.com or contact Lawrence Fayman at lfayman@Tripeak.com.

The post Now is the Time to Open Your Offshore Forex Brokerage appeared first on Tripeak.

In April 2014, the European Parliament approved MiFID II – an updated version of the original MiFID Regulation – with the main objectives to increase consumer protection and competition in financial markets. The new update significantly expands the requirements of the original MiFID directive to cover a larger number of companies and financial products, and is set to take effect in January 2018. While Spot FX is not a financial instrument under MiFID II definitions, new requirements instruct that Spot FX trades should be executed using the same principles as any other financial instrument covered by MiFID II. These requirements may be a game-changer for the FX marketplace, and Tripeak is ready to fully comply with them.

Tripeak has had systems in place that adhere to the best execution policy been for many years and our systems comply with the new MiFID II requirements. We’ve been striving to be up-to-date on all legislative developments even before the law becomes effective. That means, we have been fully compliant with the changes introduced by MiFID II such as the best execution policy and transaction reporting.

Complying with the Best Execution Policy

The “best execution” policy is one of the key changes in MiFID II, and requires that firms take all “necessary steps” to obtain the best possible trading conditions for their clients.

Under Article 64 of the MiFID II Regulation, firms are now required to check the fairness of the price proposed to their clients by gathering market data that relates to the price of a product or OTC financial instrument. In contrast to MiFID, firms are now explicitly required to ensure that all necessary market checks are performed on a systematic basis and embedded in their policies and practices.

This does not only mean offering the best spread and execution price, but also includes “costs, speed, likelihood of execution and settlement, size, nature or any other relevant consideration,” as stated in Section 7, Article 65.

At Tripeak, we have taken all necessary steps to ensure compliance with the “best execution” policy and to continue to offer best possible market conditions to our clients.

Amendments to Transaction Reporting

In addition, MiFID II introduces significant changes in transaction reporting, which now requires an expansion of the set of information available on a given transaction and the full harmonization of the format of the reports across the EU.

At Tripeak, we fully comply with all amendments and new requirements set by MiFID II, such as best execution policy, transaction reporting, pre- and post-trade transparency and client order handling – and all our systems are ready for the updated Directive by the date the new regulations are set to take effect.

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Fred Scala, Global Head of Sales at Tripeak states, “This is our most robust tool for brokers looking to develop a high-speed, end-to-end solution. With direct connections to top-tier FX liquidity providers and 40+ Exchanges, our Gateway will allow brokers to increase revenue substantially. The MetaTrader 5 platform and our Gateway complement our full product suite. Our Price Aggregator, Price Engine, and Risk Management tools offer brokers a top-notch solution to manage a successful FX brokerage business.”

According to the technology provider, the main benefits of the Tripeak Gateway to MetaTrader 5 are:

support for the full-fledged market depth with sorting trades by depth directly from the liquidity provider

Order Types — support for FOK and IOC filling types

“We are very excited about our gateway to the most advanced trading platform on the market,” says Fred Scala. “We’ve seen a lot of interest from our institutional clients that need a multi-asset platform with the full depth of book. With the Gateway to MetaTrader 5, we now have a product that addresses the needs of the institutional community.”

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LF: Mr. Simonis, recently, Moody’s downgraded China citing slowing economic growth and rising debt levels. Did you have any thoughts on how this might affect the FX markets?

SS: A country’s currency strength always carries importance in matters of trade surplus, and the yuan is no different; its role in the Chinese economy is no different than the level of the JPY to Japan’s economy or the pound to Great Britain’s economy.  What I find interesting is that after Moody’s downgraded China, China’s finance ministry posted a statement on their website to dispute Moody’s decision. They said the ratings agency overestimated the economic difficulties facing the country and underestimated its capability of making reforms and the reforms already in place. It’s unusual that Chinese authorities would make such an aggressive response to agency ratings. I think that China will continue the path it’s on and will not make any drastic moves based on anyone else’s opinion of their situation.

After the announcement, as one would expect, the main market movers were the NZD and AUD. They both went lower initially; however, they recovered all their losses after the finance ministry’s statement. Both of those pairs are continued higher than when the Moody’s downgrade occurred.

One would think that if you downgrade China you almost have to downgrade Hong Kong as their economies are closely connected. The Hong Kong dollar rarely moves unless they decide to move the peg which is pretty unlikely. All in all I think that Moody’s downgrade of China is no surprise and will carry little impact.

LF: Are there any fundamental events you think will affect the Euro this week?

SS: On Thursday June 8th, there’s the Minimum Bid Rate and ECB Press Conference. Germany’s Angela Merkel said the Euro is weak because of the ECB’s monetary policy, which has caused its large trade surplus. President Trump is quoted as saying this is “very bad”. Germany’s Scaeuble said that the Euro exchange rate is too low for Germany. Verbal intervention seemingly meant to push the Euro higher hasn’t had much impact. With geopolitical issues weighing on the region and looming contentious Brexit negotiations, I can see the Euro pushing back lower, testing the 1.10 level

LF: Do you have an outlook on the recent French elections?

SS: Macron’s victory was pretty much expected. While it is good news for the Eurozone’s stability, I do not think it will have much effect on the EUR/USD rate; however, as always, traders must still be wary of the ‘buy rumor sell the fact’ scenario. This puts the potential of France leaving the Eurozone talk to rest, keeps the Eurozone intact and creates a feeling of solidarity. Some people are saying that Angela Merkel now heads two countries. This could cause a selloff in the GBP as Brexit negotiations get under way. I’m looking for EUR/GBP to appreciate.

LF: Before I let you go, is there anything else you think traders around the world would like to know?

SS: The markets haven’t reacted much to the recent terror attacks in Manchester and Egypt which indicates that the market is heavily long CHF and JPY — which makes me concerned that an unwinding of long CHF positions could be volatile and trigger stops, and we know from the past that can be a very messy situation. I’m looking to begin to trim CHF longs.

For more information or you would just like to chat about the market please contact me at lfayman@Tripeak.com – Lawrence Fayman

The post Lawrence Fayman Sits Down for The Week Ahead appeared first on Tripeak.

Q: I can’t seem to place a buy limit order. What gives?
A: Buy limit orders are placed when a trader wishes to buy, or go long below the current market rate. When the market dips and touches the requested price, the buy limit order is executed. On the same token, an order to sell above the current market rate would be considered a sell limit. When placing a pending order you’ll also notice you can place a sell or buy stop. In the case of these orders you would be doing the opposite of what I’ve described above: buying above the current market rate for a buy stop; below the current market rate for a sell stop.

Q: How do I rescan for servers?
A: Rescanning for servers will refresh your connection to the trading server. At the bottom right corner of your terminal you’ll notice both red and green bars. Simply click on those bars and select “rescan for servers.”

Q: Why can’t I see all of the currency pairs available for trading in my “Market Watch” window? 
A: Simply navigate to the market watch window, click with the right mouse button and select “Show All.”

Q: Why do I see the “Waiting For Update” message on my chart, but no data? 
A: A simple refresh of the chart is needed. You can either right click on the chart and select “Refresh” or close the chart and create a new one. Finally, if you’ve logged into the terminal for the first time, simply drag a currency pair from the “Market Watch” window onto the chart to see live data.

Q: How do I apply my EA to a chart? 
A: Look for the “Expert Advisors” section of the Navigator window and drag the desired EA onto the chart. A window will appear once this is done. Before clicking “OK” make sure “Allow Live Trading” has been selected. Once you’ve clicked on “OK” check that the “Enable Expert Advisors” button is pressed at the top of the terminal. There should be a smiley face in the top right corner of the chart if it’s applied correctly.

Q: What does the message “Off Quotes” mean?
A: There are a variety of reasons why this error might occur. It is best to contact your broker whenever this message is seen.

Q: What does “Trade Context is Busy” mean?
A: Sometimes a trade will be sent to the broker but doesn’t execute immediately. This could occur due to a delay with the trader’s connection or the broker’s. In either case, if the client closes the trade and tries to place another, the error message “Trade Context is Busy” will appear. This happens because the MT4 terminal is still waiting for a response from the broker for the first trade that was placed.

Q: Why do I have to set my chart up when I log in every time?
A: You actually don’t have to. After a chart is created with your desired settings, simply right click on the chart and select “Template.” When you log back in you can then go back to the templates section and load the saved template.

Q: How can I set alarms in the MT4 platform? 
A: On the bottom of the terminal there is a tab titled “Alerts.” Right click in the field and select “Create.” Simply enter the desired parameters and press “OK”.

Q: How do I get history for a symbol? 
A: Go to the top menu bar and select “Tools,” then navigate to the “History Center.” When the window pops up you will see the categories you have to choose from. Select the category you want and then the list of symbols will expand below it. Double click on the symbol and then select your desired time frame and double click on it. To the right you will see the data appear. From here you can export it or search through what you have pulled up to see the data point you are looking for.

The post 10 Frequently Asked MT4 Questions appeared first on Tripeak.

In a market where it is very difficult to differentiate a brokerage strictly on the spreads offered, value-added services, such as WebMT4, are crucial to expanding client and deposit base.  According to InterBank FX’s recent Anatomy of a Forex Trader1, 33% of traders already follow markets or make trades through mobile devices.  That’s a substantial chunk of the potential clients that currently demand mobile access, and like other areas of mobile adoption, this percentage is sure to increase.  Clearly it is  to be able to win these traders’ business and set the brokerage apart from the crowd by making mobile trading possible.

Beyond adding another marketing arrow to the Forex brokerage’s quiver, WebMT4 increases customer loyalty and retention.  Simply giving the traders access to the MetaTrader 4 platform on mobile devices adds another touch point between the clients and the brokerage, which increases adoption and switching costs for traders.  Some brokerages have leveraged more creative approaches, offering for example, a WebMT4 enabled iPad in return for a minimum initial deposit amount, or a 12 month contract.  Certainly, there are even more areas a creative brokerage can use mobile MT4 trading access to increase customer loyalty.

While making marketing easier and retaining more traders are critical elements of building a successful Forex brokerage, these goals need to be accomplished profitably.  Fortunately, WebMT4 is not expensive and actually increases revenue of a brokerage.  All brokerages prefer traders to be active, especially those offering volume based execution model.  By putting the power to trade in the client’s hands, literally, the brokerage facilitates more frequent trades, and captures more revenue.  This makes it easy to recuperate the cost of adding WebMT4 services, even if the brokerage doesn’t want to impose minimum deposit amounts to be eligible, or simply pass along the additional cost directly to the trader.

Be sure to contact a Tripeak’s Business Intelligence Specialist for pricing information on WebMT4 pricing and the advantages the service brings to a brokerage.

The post Don’t Delay, Add Mobile Trading Services Today appeared first on Tripeak.

How long has the firm been in business?

While the business of programing liquidity bridges between MT4 server applications and third party liquidity providers is relatively new, this question is still an important one to pose to any potential vendor.  By nature, new technologies are prone to pitfalls, thus a technology company that has been programming bridges for four years versus two is far more likely to have overcome many unforeseen hurdles.  In addition, new software is not easy to reverse engineer and reproduce.  As such, the inventor of a software technology will overcome challenges and improve upon their package in each subsequent release, where as an imitation that enters the market will not have the benefit of this experience.

Who are some of the firm’s marquee customers?

This question, as well as targeting experience points, seeks to determine the credibility of the technology vendor from a standpoint of follow through and long term stability.  Especially with larger clients, deployment can be time and resources intensive, thus the vendor will need to have adequate systems in place to handle the complexities, and expertise to maneuver the challenges that are inherent in such deployments.  Once deployed, the software itself will need to prove it can handle large numbers of FX trades and users, and there is no better proof than the firm’s customer’s production environment.

To which liquidity providers has the firm developed bridges?

Hopefully the bridge vendor has already built a bridge from Metatrader 4 to the bank that you work with, and has done so in an easily replicable manner.  Otherwise, you can use the vendor’s experience with bridging to other banks as an indicator of their proficiency at developing successful liquidity bridges.  This experience in working with disparate bank systems is critical in ensuring that your deployment will be done expeditiously so that you can commence your Forex trading operation as soon as possible in a reliable environment.

How can the vendor help you differentiate yourself from your competitors?

Of course all bridges will pass trade information to and from the liquidity provider from your MT4 server application; however, there are many additional features and services that top-tier vendors can provide which will help you attract and retain more clients.  For examples, certain vendors develop bridge functionality and MT4 Admin Plugins, that address multi-account management, support of multiple price feeds, and positive slippage, which you can in turn use to create a better and more diverse offering for your clients.  Other services may include Expert Advisor development and Virtual Private Server hosting, which can in turn be offered to clients and add value to your service.

What does your support package include?

Forex trading almost never sleeps, and MT4 and the bridge software are critical applications for running your business, which should be reflected in the support provided by your vendor.  Perhaps you are based in Australia, or maybe you have clients who actively trade well into the night from New York.  In either case you’ll need 24 hour support while the primary markets are open.  Look for a deep bench of highly qualified analysts that can take calls during support hours, not outsourced phone centers.  Also, evaluate the vendor’s team to ensure they have strong market knowledge; they work with a number of brokers and can be a terrific source of information on a slew of subjects ranging all the way down to how to structure a brokerage’s organization chart.  Finally, make sure that the vendor has a robust disaster recovery plan including fail over server sites, etc.  This way, even in the worst case scenario, your downtime will be limited.

Hopefully these areas of insight are helpful in your search for a bridge vendor, please do leave your comments, and don’t hesitate to reach out to a Business Intelligence Specialist for more information about bridge technology.

The post 5 Considerations for Selecting a Metatrader 4 Liquidity Bridge appeared first on Tripeak.

1. Trade While You Sleep

 This advantage doesn’t necessarily appeal to the FX junkies who remain glued to their screens at the wee hours of the night.  For the rest of us though, automated trading makes it possible to participate in the market while you are catching your Zs.

2. Backtest The Results

 Attempting to backtest a manual trading strategy poses a series of challenges.  This isn’t an issue with automated systems.  There are even platforms such as MetaTrader 4 (MT4) that allow the user to backtest a strategy at no cost to the user.

3. Overcome The Challenges Of Trading

The greatest difficulty a trader faces is deciding when to pull the trigger.  For those who have struggled in the past or never mustered the courage to trade on their own, an automated system offers them an alternative to a market they otherwise would not have considered.

4. Diversify

Many traders enjoy running systems while simultaneously placing trades on their own.  As an example, you might be comfortable trading EUR/USD but have nightmares about the last time you bought GBP/JPY.  Instead of avoiding volatile pairs you can allow a system to trade it on your behalf.

5. No Time for Trading

You like the idea of trading but by the time you’ve run some errands, made dinner, and put the kids to bed you realize the time you blocked off for trading isn’t going to happen.  An automated system allows you to still participate in the market even if you don’t have the time for it.

The FX market offers traders access to an unprecedented amount of leverage, meaning movements as small as a fraction of a penny can result in substantial gains or losses.  When deciding upon a system I suggest assessing your tolerance for risk as well as the capital set aside for trading before you allow it to trade your funds.

The post 5 Advantages of Automated Trading appeared first on Tripeak.

Know Your Client

Trading forums have grown in popularity because they serve as a common meeting ground for like-minded traders to exchange ideas.  Traders, especially those new to the business are constantly searching for tips, insights, and pretty much anything that can improve their success.  By asking your clients key questions pertaining to their strategy, the time frame they follow, and the pairs they trade, you’ll have a fairly accurate idea of what they are trying to do.  A brief discussion about the current market trends or a new strategy goes a long way in building trust and credibility among your clients.  The goal is for them to view your brokerage as more than just the place where their trading account is held, but a place to share their thinking and get useful, personalized advice.

Know Your Stuff

If you aren’t following the markets, how convincing will you sound with a new prospect?  A great way of seperating your firm from the competition is to offer more than just answers to questions.  Imagine receiving a personal email from your broker with a link to an article on GBP/USD or perhaps a brief phone call regarding an important news announcement for the Australian dollar?  Once you’ve gained this knowledge, start getting creative – you’ll be surprised where it takes you.  The IB Times http://www.ibtimes.com/forex/ and DailyFX www.dailyfx.com are two sites I’d suggest visiting to stay on top of the markets.  The knowledge doesn’t stop there though.  In the fast paced, rapidly changing landscape of FX what happened on Monday is old news by the end of the week.  I recommend visiting Forex Magnates www.forexmagnates.com to keep up with industry changes.

All Strategies Are Good

 Picture ten traders sitting together in a room.  It’s inevitable that the subject of trading strategies will emerge, most likely ensuing in a heated debate.  Traders become very defensive of their strategies because they’ve put effort into developing them and more importantly feel their approach will be successful.  If you wish to preserve goodwill with your clients, refrain from talking negatively about their strategy.  It’s fine to introduce new ideas but make sure to tread carefully.

Every Conversation Is An Opportunity

It’s difficult to call a company these days, especially the larger ones, without feeling like the person on the other line is a machine (sometimes they are). The personal touch is crucial.  The next time you field a call from one of your clients, try asking a quick question about their strategy or the market.  Something as simple as “boy, the Euro sure took a spill” could possibly lead into a productive discussion.  The downside is that your client is too busy to talk; in trading terms the risk to reward ratio is extremly favorable.

Have A Strategy At Your Fingertips

You are talking to a prospect who has no prior trading experience.  The interest is there but without a strategy why would they consider trading?  A way of bridging the gap is to offer therategies to try out on their demo.  It’s also a good idea to have a few advanced stram a few simple sttegies for existing clients who are open to some new ideas.  In either case your clients will perceive your brokerage not only as the place they hold their account, but a valuable resource that will help them become more successful.

The post 5 Tips For A Successful FX Brokerage appeared first on Tripeak.