The biggest fintech portal Finance Magnates just published an interview with Vasily Alexeev, CEO UpTrader, about a new investment service for Forex brokers launched last month. The service combines the most popular technologies (MAM, PAMM, LAMM). What advantages does UpTrader offer to the market?
Read on Finance Magnates
These are the questions that we asked Vasily Alexeev, the CTO and CEO of UpTrader. In April, his company announced the launch of its investment service UpTrader Invest.
You’ve just announced the launch of UpTrader Invest. What are the innovations that your solution brings to the table?
We get a lot of requests for investment services. Someone wants PAMM, others ask for MAM, or social trading. In fact, many don’t see the difference between them, and the truth is, the difference is really minor.
And if we pay attention, we’ll see what the client is really saying: we want a stable and reliable service with flexible settings, and we need it live tomorrow.
So we didn’t create a new technology, we just reimagined what’s already out there on the market and offered a new combination. UpTrader Invest is an investment service with a simple interface and flexible settings. Another hallmark is the high degree of stability.
You’re putting a lot of emphasis on stability. Is the situation bad now?
The thing is, many similar services have a common problem—they lose trades, it’s inevitable with external connection to the trading platform MetaTrader 4—that’s the way most of these solutions operate.
UpTrader Invest works in the MT4 core directly, which not only ensures the maximum speed of operation, but also prevents the loss of trades.
UpTrader Invest—is it more than just MAM, PAMM, and social trading?
Let’s clear up the terminology first.
MAM stands for Multi Account Management. This means that there’s one common account used by the trader, while the investors’ accounts are indicative. This scheme allows for a more effective hedging of the strategy’s general position, i.e. moving to A-book.
PAMM stands for Percent Allocation Management Module, basically the same as MAM.
Social trading, or copy trading, is essentially the same as MAM, the difference being that the trader operates not in a common account, but in their own one, while the trades are being copied to the connected accounts of investors.
We offer all three modes of operation. MAM is the standard mode. PAMM is the same as MAM, only investors can’t see the trades.
And the social trading (copy trading) mode—the manager only trades with their personal funds in their own account, the other accounts simply receive copied trades.
A broker can pick any mode it prefers, or enable all three simultaneously.
Is UpTrader Invest a standalone entity, or a part of your CRM?
UpTrader CRM was designed as a single control room for the broker on one side and for the client on the other. We create simple and succinct interfaces for the easy management of complex things.
We make an effort to spare our users unnecessary clicks, switching between windows, log-ins. That’s why all new UpTrader products are always integrated into CRM.
However, if someone wants to buy this particular service as a standalone, we can provide the API, and the customer will be able to design their own interface, expand the plug-in the way they want, and connect it to their MetaTrader 4 on their own.
What instruments are there to trade for a manager in investment accounts?
Anything available in MT4. For example, if a broker buys a White Label from UpTrader, their clients get access to over 500 instruments: currencies, cryptocurrencies, spot metals, CFDs on futures, stocks, indices, bonds.
Where and how can a client follow the account operations and manage trades?
Managing trades—no, investors can’t influence trades at all. Investors can connect or disconnect, deposit or withdraw, but that’s it. Everything that goes on in their accounts can be tracked using any available MetaTrader interface: in the mobile or desktop app, web terminal. And, of course, in our CRM.
How to choose a manager, connect/disconnect a strategy?
An investor can choose a strategy from the list based on the profit history. They also see the manager’s preferred trading instruments. Then, they submit an investment request, which the manager accepts or rejects. The manager can also opt to accept all investments automatically.
There are several ways of disconnecting from a strategy, it depends on the account settings: immediately, on approval, or on rollover, i.e. on schedule.
What are the profit distribution options available in the service?
The manager has three reward plans that can be selected in the settings: payouts per the manager’s trading volume, percentage of profit generated in a period determined by the manager, high watermark: payment only when investor’s profits reach a new high.
What’s the earning scheme for the broker?
There are no restrictions for brokers on how they want to make money in this service. It can be any existing arrangement—spreads, fees. The service works with any variations of A-book/B-book.
No restrictions on the partnership program, partners receive rewards automatically for the clients they bring to the investment service.
How fast can the service be integrated? Is there a trial period?
Integration can be done at the speed of light—a client gets a fully functioning service in one day. Of course, customers can take it for a test run before making a purchase, we offer a trial period.
After visiting iFXExpo Dubai, we can confidently say that everything is in order on the forex market.
We are not going to talk about the joy of live meetings after a long break, since almost everyone has already written about it. And what else can we say, we completely agree that no Zoom can be compared with personal interaction. The entire UpTrader team noted that the demand for brokerage software has grown very much over the past year and a half, CRM becoming the favorite UpTrader product. Deals were made right at the booth. Customers paid in cash!
Also, future and current brokers were interested in payment systems, which should come as no surprise given the continuing restrictions on banks' work with unlicensed brokers.
Of the interesting anti-trends, one can note the loss of interest in crypto projects. Even if you remember the 2019 iFXExpo exhibition on Cyprus, when ICOs were already almost a thing of the past, crypto projects still aroused keen interest. Now everyone is interested in rather routine classic things like White Labels on MT4, MT5, Investment services, CRM, Licenses, liquidity for working in the Forex and CFD market. The hype settled down, the market returned to the classic financial business.
Brokerage software has always been in high demand in the Asia-Pacific region, and even in the times of the pandemic, the number of requests has only gone up.
We’re making an effort to speak the same language with our clients, literally. As we secure our presence on the new markets, we adapt our products to the local languages.
Today, we’re proud to announce that the UpTrader website is available in three new languages: Thai, Vietnamese, and Chinese.
Meanwhile, UpTrader CRM is available in Arabic, English, French, Italian, Russian, Thai, and Vietnamese.
Today, April 12th, marks the completion of the final testing stage of our new product—the investment service UpTrader Invest—and now it’s available to customers. Integration of the platform into a brokerage business takes just one day. Currently, the service only works with MT4, but the MT5 version is planned next.
UpTrader Invest is a plug-in for MT4 based on the technologies of PAMM, MAM, and social trading. It allows investors of any level of expertise to immediately start investing and generating profits from Forex trading. The hallmark of the new platform is its userfriendly interface for all three parties: brokers, investment account managers, and investors. Flexible settings allow selecting between profit distribution systems and managing risks.
Vasily Alexeev, UpTrader CEO
“We often receive requests for PAMM, sometimes LAMM and MAM. When we try to understand why they want one particular product or another, we realize that the most don’t see any difference between them. For example, PAMM is much more widely known than the others, so it gets requested more often, despite it being mostly the same as MAM. Essentially, these three are the same platform under different brands, they’re based on a very similar principle of operation. We’ve long understood: when a client asks for an investment service, they just want a simple and reliable instrument for their clients, and the terminology isn’t important. What’s important, though, is that the service must be easy and comfortable to use. That’s why we have combined the most popular settings of PAMM, MAM, and social trading, designed a simple interface, and paid special attention to stability: the dangers of lost connection or inaccurate copying of trades are eliminated. Our investment service is already integrated into UpTrader CRM. This means that by buying our CRM, a broker immediately receives a great instrument that can start bringing profits as early as the next day.”
Key features of UpTrader Invest:
—There are no restrictions for brokers concerning the way they want to generate profits using this service. Any scheme already used by the broker will suit: spreads, fees. The service works with any variations of A-book and B-book. In addition, A-book brokers will be able to hedge their risk more effectively when working in MAM or PAMM mode.
—No restrictions for partnership programs. If a partner brings new clients with investment accounts, the partner reward will be paid out automatically.
—There are three reward schemes for the manager available in the settings: payment per the manager’s trading volume, percentage of profits generated in a certain time period set by the manager, high watermark—payment only for the difference in balance (only when the value is positive).
—When choosing a manager in the client interface, investors see their history of profit, preferred trading instruments, reward scheme, and, of course, options of backing out from the strategy, there are three of them: immediate exit, exit after the manager’s approval, exit with rollovers. All further information is available to investors in real time in their client interface, in MetaTrader 4 mobile app, or in the web/desktop terminal.
Get more detailed information on the service and request a trial: [email protected]
Finally, a live Expo! With 2020 behind us, the world is slowly starting to return to business as usual.
During the last year, we at UpTrader have really longed for another big expo, and now we’re proud to take part in the first iFX EXPO since 2019.
Come see us in Dubai at May 19-20, 2021! There will be two full expo days, and we’ll be waiting for you at our booth #49.
Get your tickets now at https://ifxexpo.com/dubai/
You can book an appointment with us by using the “Contact us” form on our website or via email [email protected]
See you there!
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