Fred Scala, Vice President Global Head of Sales
Through the early 1970s, software companies developed and deployed solutions for online trading as brokers and traders got tech-savvy—this included the introduction of NASDAQ as a computerized trading platform. One foreign exchange company, FXDD, has been using MetaQuotes’ (a software company that specializes in the development of software for foreign exchange and CFD trading) comprehensive trading applications—, MT4 and MT5—as well as their own proprietary Web Trader platform to bring a variety of trading options to brokers. FXDD’s success is acknowledged by its clientele that comprise prominent professionals and businesses in the trading industry. While most brokerage companies in the spectrum are new, FXDD has over 15 years of experience in providing services to traders in the circuit.
A challenge that FXDD helps traders and clients with is in keeping pace with the ever-changing regulations in the purchase and sale of equity by continually enabling them to be up-to-date. FXDD, through their solutions, provide customers with constant insights about the events in the arena and also assists them to be more efficient with financing their foreign exchange (FX) accounts. The company takes pride in its quick, reliable customer support; a reason it believes that has aided them to accumulate a string of loyal clients. “I have been on countless trips throughout the world to meet face-to-face with our institutional clients, and that is the basis for retaining clients, and this accounts for our longevity in a very competitive business,” explains Fred Scala, Vice President Global Head of Sales at FXDD. ‘Even though trading has gone electronic, in the Institutional space personal relationships are still very important.’
I have been on countless trips throughout the world to meet face-to-face with our institutional clients, and that is the basis for retaining clients, and this accounts for our longevity in a very competitive business
One defining feature at FXDD is the use of its own proprietary bridge to communicate between the MetaTrader platform and the solutions that it deploys. “Most firms outsource this to third-party technology vendors, and these suppliers do an excellent job, but it is an additional hop. It is a plausible point of weakness in the chain, and users have to rely on that working as well,” states Scala. At FXDD, professionals at facilities in Russia, the U.S., and Malta monitor the constant changes and anomalies that may occur during connections between the MetaTrader solution and platforms at customer bases. An area that FXDD feels the equity arena is lacking is in understanding the market, and the company educates clients on this front. For this purpose, FXDD has acquired an organization—TraderMade—that presents elaborate charting and analysis about the latest news in the capital market industry. The company provides insights on how to set up an account and when to buy and sell stock enabling clients and brokers to trade capably.
Having found the grandeur of success in Asia, particularly in China and South East Asia, FXDD is planning on expanding its operations to other countries such as Vietnam, Cambodia, and the Philippines. It also plans to move into South America and Africa as well as continue to expand into Europe. One other significant project that FXDD is developing is a multi-asset platform together with some large partners that operate within the purchase and equity space. More information about this project will be released later on in the year so watch this space!