Finance magnates publishes an interview with Vasily Alexeev, CEO UpTrader, about new investment service
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 copy trading software UpTrader Invest.
You’ve just announced the launch of copy trading software "UpTrader Invest". What are the innovations that your forex solution brings to the table?
We get a lot of requests for investment services. Someone wants PAMM, others ask for MAM MT4, or social trading platform. 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 platform, or copy trading software, 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 MT4 or MT5 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 Forex CRM?
UpTrader Forex 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 Forex 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 MT4 White Label solution 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 Forex 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.
More details about MT4/MT5 social trading platform white label here: https://uptrader.io/en/uptrader_invest
For online companies, business has long stopped being about providing a local service for clients from a particular city or country. A successfully launched business cannot stay locked in one region for long, and if the owner thinks globally, they will act the same way. The main task of an international online business is to accept local payments. For example, in Indonesia, Help2Pay or Fasapay are popular payment systems, while in Namibia, only banks transfers are in use and they need banks details much more than they need payment systems. The more systems are integrated into your CRM, the more clients from different countries will be able to buy your service.
There are some companies on the market which provide payment management systems for CRMs. All you have to do is pay for a subscription, and the payment management module will be fully integrated into your CRM. The fee, however, may be quite high. UpTrader also provides this module, and it is already integrated into our CRM along with ready-to-use payment systems. We do not charge separately for it.
We have already integrated more than 50 payment systems into our CRM, and new ones are being added all the time.
UpTrader Pay settings
The module was tailored to the demands of Forex brokers, so it has a wide range of options. So, for your clients’ convenience, you can:
1. Set a country filter.
For example, you work with clients from Indonesia, South Africa, and Germany. You have more than 50 payment systems. Not all of them work for these clients. To avoid confusion, you can only show them options available in their country. UpTrader Pay lets you change the visibility settings to only show certain payment systems for customers registered in a particular country.
2. Set a rule for new and old clients.
For example, you work with payment systems that require meeting certain criteria for clients, such as successful KYC. Therefore you can set such a rule to show new clients certain payment systems that accept new clients but charge high commissions. As well you can show another bunch of payment systems for old clients with lower commicions.
3. Visa and Mastercard.
Only show Visa and Mastercard and automatically substitute payment systems depending on the country.
4. Set a filter by registration date.
For some companies, client registration date is important. For example, you would like to give a bonus to new clients, a commission refund or a deposit bonus when depositing through a certain payment system. You can set up this payment system to be visible only to clients with a certain registration date.
UpTrader Payment Management Value-adds
- No monthly fee
- More than 50 payment systems already integrated
- New payment system integration in 2 weeks
- Free integration of one payment system per month
- Country, deposit, registration date settings
- Fully integrated into UpTrader CRM
- User-friendly interface
We won't say much about why bonuses are so popular. The interest in them never fades. Every new broker launches some kind of a bonus system.
In UpTrader CRM, there are four types of ready-to-use bonuses: % on deposit, welcome bonus, % on balance, or monthly interest, and manual bonus. The settings for each of them allow you the flexibility to make them work for you.
There are 4 bonus types you can set up right away in UpTrader Forex CRM:
% on deposit
Deposit bonus is the most popular bonus type, since it is designed to encourage those who deposit the account. Everybody wins: the client does because they receive more benefits and trading opportunities, and the broker wins because they land a client who is truly ready to trade. Usually, the broker settles on the conditions and the bonus amount, for example, +50% to the deposit amount when depositing from $50 to $10,000. In the “conversion” field, the broker can specify the conditions under which the bonus funds can be converted to cash and become available for withdrawal.
A monthly interest bonus has also gained popularity because it helps build loyalty and encourages clients to stay with the broker longer and to keep more money in their accounts since it becomes more profitable to do that. For example, a broker can set a required minimum account balance for a certain day of the month. If the requirement is met, a client receives a bonus on the balance. The conditions for cashing the bonus are also set in the CRM.
The main rule for this bonus is that a client can only receive it once.A welcome bonus is a popular way to generate traffic. The best way to attract a lot of cheap traffic is to offer free money. But can you turn that traffic into clients? That remains to be seen.
The superpower of a manual bonus means that you can give it just like that. If a manager wants to give out a bonus, they can do it without setting any conditions. This is a very handy sales tool which often helps in the moment.
For each bonus, you can specify description and condition fields. Create your own conditions for bonus programs using our settings!
If any questions talk to our expert in live chat or emal us [email protected]
The main disadvantage of accepting payments in cryptocurrency is the lack of familiar interface. When paying by card or through a popular EPS (electronic payment systems), no special skills are required to transfer money, all the fields are familiar, processes are automated, crediting is predictable. Cryptocurrency payment is not a mass method yet, and often such payments are made manually, which is inconvenient both for clients and for the company.
The manual way of accepting cryptocurrency payments from brokers’ clients looks something like this:
1) A broker manually creates a payment system in the CRM and specifies in the description an address to which cryptocurrency needs to be transferred.
2) Before transferring money to the broker's wallet, clients need to create a request through this payment system in the CRM.
3) To process these requests, the broker needs to manually open their crypto wallet, check which of these requests are paid and for what amount, because clients can create a request for one amount but actually transfer another one. If the amounts are incorrect, the broker needs to correct them in the requests and then mark the requests as processed or failed (if the money was not transferred).
There are two problems with such a process: manual work and difficulty identifying payments. If a broker has a lot of clients, there can easily be a situation where, say, 2 clients created a $1,000 request around the same time, and only one $1,000 payment came in. It is impossible to identify which client sent that amount, you would have to contact the client to find out.
Manual control inevitably leads to human error, and more often than not such errors amount to more than one thousand dollars. On top of that, as we know, cryptocurrency transactions cannot be undone or disputed.
UpTrader offers its clients to automate cryptocurrency payment acceptance with a crypto gateway. Crypto gateway is a civilised automated way of making cryptopayments with a user-friendly interface that eliminates human error, simplifies the finance department’s work and client transfers.
How UpTrader's crypto gateway works:
1) UpTrader’s crypto gateway has a simple API and easily integrates into any CRM.
2) A unique wallet is created for and associated with each CRM client who requests a crypto deposit. That is, only this client gets this wallet, and the wallet remains the same between different requests, so that the client does not get confused.
3) After that, our crypto gateway traces when money arrives to this wallet and sends data about incoming payments to the CRM which automatically processes requests and corrects amounts.
If cryptocurrency payments happen from time to time in your company and you anticipate an increase in them, take care of automation in advance in order not to run into problems in the future.
To get more information, mail us to: [email protected] or write us in online chat.
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