As a co-founder and CEO of BMFN, Pavel Belogour is a well-known figure in the retail FX sector. With experience at the Bank of Boston and his businesses, Mr. Belogour realizes the challenges brokers and investors face and is constantly on the lookout for better solutions for international markets. We asked Paul Belogour to comment on the current investment software and his proprietary trading platform to help newcomer and experienced brokers make the right choice.
Do MetaTrader products still dominate the market?
I believe MT4 was a breakthrough for the industry as it allowed many companies to start and expand their Forex enterprises. Moreover, the platform delivered the investment potential to millions of individual investors who couldn’t have dreamed about developing international portfolios before. Regardless of the bridge requirements, MT4 STP model continues to evolve and offer business expanding opportunities for brokers.
We know UniTrader is the brainchild of Paul Belogour. Is it different from other platforms?
At first glance, UniTrader is no different from other platforms, but it was created with a specific audience in mind. Unlike competitors, our platform is aimed at market makers that involve thousands of Introducing Brokers who, in turn, bring thousands of customers to UniTrader. Customized settings for individual IBs are among the essential differences that set our platform apart from the competition. This software is the result of 17 years of trading experience and provides the intuitive and user-friendly interface for investors, Introducing Brokers, and market leaders.
Mr. Belogour, could you tell us of more features that make UniTrader a good choice for a newcomer broker?
At the onset, most brokers work alone, with a single person to take care of everything. To help them set up, we designed UniTrader to encompass 4 automated and connected parts. They include the Introducing Brokers center, the back office, client UI, and risk management interface a single broker can run. UniTrader is a low-cost software solution that doesn’t require extensive staff.
Once the business picks up, brokers can set up white labels. With UniTrader, it only takes 5 minutes. They can also build custom CRMs for live and demo clients, generate real-time reports, and customize platform settings for individual customers. I believe the best thing about UniTrader is full automation that lowers the adoption threshold and enables brokers to make business growth their priority.
Do you think newcomer brokers should rely on customized solutions or ready-made software to entice clients and ensure business expansion?
I wouldn’t recommend newcomer brokers to tie up their resources in customization efforts of the technology they do not fully understand. Instead, they should use ready-made solutions, such as UniTrader, and concentrate their efforts on marketing, increasing the number of customers and sales. These platforms offer extensive support for startup brokers and make the initial stage of business development smooth and efficient. Once the broker has an established business model and loyal customers, he or she can invest in custom solutions to meet specific requirements of the niche.
Should we expect groundbreaking innovations in the trading technology soon?
I’m sorry to say the investment technology market is set in traditional ways and not very conducive for innovation. In the past years, there were few releases that might change the face of the industry. Whenever I attend trading shows, I notice the same solutions. I hope to see more broker-oriented software, and my team is working on new products to deliver a superb experience for investors and brokers alike.
Thank you for sharing your investment technology expertise with our readers and outlining the basic software strategies for startup brokers.
To recap, Pavel Belogour recommends newcomer brokers and investors to rely on ready-made solutions with flawless support. According to Paul Belogour, UniTrader proprietary solution offers unique fully automated features for both seasoned and newcomer brokers.