On the eve of International Women's Day, Elena Berestovaya, CMO UpTrader, shared her prospective on female leadership and fintech trends.
Hi Elena! Thanks for joining us at Fazzaco today! How did you get into the finance industry?
In 2011, a classmate of mine invited me to work at a Forex broker with which her training company was working as a partner, and which needed a Public Relations Officer. I was on the lookout for a job and a new field that would inspire me. After graduating from the university, I worked in public relations in environment protection for a few years but became disillusioned. I encountered many NGOs whose purpose was to make money out of environmental problems, not to solve them. It was not in line with my idealistic view of the fight against climate change. That is why I decided to look for a more honest industry, where the goals of all stakeholders are transparent and the desire to make money is not disguised as something else. So a job offer at a brokerage company was exactly what I needed.
Could you please share with us some highlights from your career with UpTrader?
I was the one to design the corporate identity and marketing materials and to organise the first international exhibition. I met Vasily Alexeev, CEO of UpTrader, when I was working at Grand Capital, their major client at that time. UpTrader was their main contractor, implementing the whole cycle of software development. At that time, UpTrader's management, having gained significant experience in custom development, began to think about cloud services. The company needed a brand, PR, a statement about itself in the professional environment. It began to grow, there was more and more work, and I was offered to head their marketing department. In 2017, UpTrader worked on the ICO Serenity-Financial project, the first blockchain escrow for Forex brokers. We took care of the technical and marketing support for the project. Now UpTrader is one of the major players in brokerage software.
In your opinion, what gives women an advantage over men in the Forex industry?
I would say that the more highly qualified the employee is, the less attention you pay to their gender or any differences at all. An employee in a managerial position at any company requires professional skills, the ability to delegate and lead a team, build relationships with other departments, strategic thinking, and emotional intelligence. However, the advantage of female leadership can be noted in greater caution: men are more prone to risk, which can lead to both ups and downs, while women are often more cautious in decision-making, which allows the company to develop more steadily and avoid unjustified crises. Women are also more receptive to the idea of creating good working conditions, taking care of the team, and motivating employees.
As a female leader, do you think it’s a challenge to get into the finance industry where men are still a majority?
No, I don't think so. On the contrary, there is a clear demand for workforce. According to my observations, there is always a shortage of qualified professionals in the finance industry. There are few of them on the market, so we often hire promising juniors or middles and train them. We do not engage in hiring from competing companies. We work in a small industry, we all know each other, so we do not welcome such behaviour. We have quite a big team in UpTrader, where people of different backgrounds, races, genders, etc. are represented. I think this is one of the strengths of the company. Recently, a 25 years old woman joined UpTrader's team as a main project manager, and she is the best candidate we have ever seen. She has excellent managerial skills and already has good management experience. She knows how to set goals and organise the work process perfectly. She pays attention to individual motivations of her team members, and, what is especially valuable, is able to delegate tasks, which means that she has enough time for management.
Reportedly, the first year of the pandemic knocked 54 million women around the world out of work. Out of the women who lost their jobs in 2020, almost 90 per cent exited the labour force completely, compared to around 70 per cent of men in the same situation. As an experienced female leader, what is your advice to those women who are striving for excellence in their workplace?
The pandemic is a difficult time for everyone. It has been a test for different industries, for employees and managers, and for families too. Judging by my close circle, some of those who have left the job market do not want to go back to a full-time job in an office. Many have discovered a part-time job and are happy in a remote mode. Some people moved to the suburbs during the pandemic, settled there, and do not want to go back to the old rhythm of life. All in all, to each their own. For those who are looking for career development, my advice is to better yourself, read professional literature, and to not be afraid of additional work or work that others do not want to do. And the main secret perhaps is to take responsibility. Being a manager means taking responsibility for both the team and the result. Few people are prepared for this, but this is a real challenge. Even if you are not competent enough, you'll have to get better to get results. Show your management that you are ready for responsibility, and you'll be noticed.
Do you have any role models that have inspired you?
My grandmother was always an example to me. She started working at the age of 15 as an assistant accountant. At the age of 20, she already defended her first report at a district party meeting. In the early years after the war, she was left alone to raise four children, two of her own, her younger sister and her husband's younger brother. She worked as a librarian and also as party secretary. She held all the district meetings where she highlighted the economic and social problems of the area, defended the interests of the townspeople, and demanded the budgets to be increased. This required a strong character and the ability to communicate well with different people. She was not afraid of working and never passed the responsibility onto others. That is why she worked her whole life as a manager.
In finance, my first boss was the model of an ideal manager for me. She had a rare combination of charisma, intelligence, and professionalism, and was willing to share her knowledge without begrudging it. She constantly learned, which made her different from the others. During interviews, she always took an interest in what the candidate was reading. She successfully managed a male team and I never heard her raise her voice or clash with anyone.
What are your thoughts on the fintech industry? Where should it be heading? And what role would UpTrader play in it?
Service development. Now, unlike 10 years ago, a small brokerage company has no problem finding cloud services, like Forex CRM or a copy trading platform. However, all Forex CRMs today have the same drawbacks: they are cumbersome to maintain and install, relatively highly priced for startups, and have insufficient functionality for large companies. At the same time, UpTrader is developing a bespoke cloud service, a kind of a multi-modular construction set consisting of different independent parts that may work together or separately: bonuses, affiliate programs, sales module, investment service, etc. We want large companies, for example, to find everything they need for their business and startups to be able to take advantage of the most basic features with a turnover fee only. We know that subscription fees are a big burden for emerging businesses, so we are working to ensure that such clients pay only based on turnover. It is more profitable for us to support the client at the start so that they succeed and stay with us as long as possible. We are also working on automating the integration of Forex CRM into our MetaTrader 4/5 server, so every client could download a distribution package and connect our free Forex CRM in just 5 steps. We have big ambitions in this niche, since we want to create a truly high-quality, user-friendly, and accessible product for everyone.
If you are a CEO, owner, or key executive of a brokerage company, you undoubtedly aim for a precise and visually clear understanding of how successfully your business operates in various regions. In this case, integrating Power BI into your company becomes not just desirable, but crucial.
What can Power BI do for Forex Brokers?
At UpTrader, we offer our clients Power BI analytics, providing a clear comparative view of any aspect of your business. Simply apply filters by regions to see which one brings in the most revenue. You will be able to see which clients trade the most successfully - perhaps they are your future managers. Determine which trading instruments and in which countries are preferred, to create special offers and trading conditions for traders from these regions. Analyze trading volumes, the popularity of payment systems, and offer special conditions for deposits and withdrawals. Compile comparative dashboards to make data-based forecasts and plan your business development.
Analytics is a powerful tool. And access to analytics with just a few clicks gives you a competitive advantage in quickly analyzing situations and making informed decisions.
At UpTrader, analytics is fully integrated with MetaTrader and all UpTrader Forex CRM modules. Want to implement this in your company? Contact your manager for details [email protected]
Power BI is a business analytics tool from Microsoft that allows users to transform data from various sources into interactive dashboards and analytical reports. It is used for aggregating, analyzing, visualizing, and sharing data. Power BI provides a deep understanding of key business indicators and data, helping to make informed decisions based on data.
Key features of Power BI include:
Data Integration: Connecting to a wide range of data sources, including cloud databases, local data, Excel, and others.
Data Modeling and Analysis: Creating custom data models and using analytical functions to extract valuable business insights.
Data Visualization: Transforming data into clear, easily interpretable visualizations such as charts, diagrams, and maps.
Collaboration and Data Sharing: Sharing your reports and dashboards with others, facilitating teamwork and decision-making.
Availability and Mobility: Power BI offers cloud solutions and mobile applications, allowing users to access their data and analytics anytime and anywhere.
This tool is widely used in various industries to optimize processes, improve performance, and identify new opportunities for business.
UpTrader, a renowned Forex CRM solutions provider, is excited to invite aspiring forex brokers to its exclusive webinar, "Three Steps to Open a Forex Broker." Scheduled for December 8 at 12:00 pm GMT, this event promises to be an invaluable resource for those looking to enter the forex brokerage industry.
- Date and Time: December 8, 12:00 pm GMT
- Host: Vasily Alexeev, CEO of UpTrader and an esteemed expert in the Forex CRM industry
In this Comprehensive Webinar, Participants Will:
- Receive a detailed overview of the forex market, specifically tailored to startups.
- Explore cost-effective company registration jurisdictions for 2024.
- Discover the benefits of various trading platforms and how to choose the right one.
- Learn about optimal Forex CRM strategies for new brokerages.
- Understand how to integrate efficient payment systems into their business model.
Interactive Q/A Session: Following the insightful presentations, attendees will have the opportunity to engage in a Q/A session with Vasily Alexeev, gaining personalized advice and direct answers to their questions.
Why Attend? This webinar is a must-attend for anyone aspiring to establish a successful forex brokerage, especially within a budget. It offers a rare opportunity to gain comprehensive knowledge, insights into the latest industry trends, and practical strategies straight from an industry leader.
Register Now Spaces are limited, so early registration is encouraged to secure a spot in this informative and transformative session.
Join us on December 8 and take the first step towards realizing your dream of opening a forex brokerage. We look forward to welcoming you to this enlightening webinar!
Best regards, The UpTrader Team
UpTrader offers forex brokers cutting-edge liquidity solutions, providing high-tech access to market liquidity, essential infrastructure, and a variety of connection options. These solutions are ideal even for working with the most complex HFT systems. Thanks to our experience and modern technologies, we provide customized liquidity solutions, fully adapted to the unique requirements of each client.
Our clients can enjoy the following benefits:
- Marginal requirements: 1%
- Trading hours: 24/5
- Access to 7 markets and over 700 trading instruments
- Competitive STP prices for Forex pairs, as well as other trading instruments and asset classes
- A full A-book model for risk-free trading
- A single margin account
- Ultra-fast STP execution
- Multiple APIs and institutional GUIs
- 24/7 technical support
- Low spreads and commissions
- A wide range of trading instruments
- Various platforms for effective liquidity distribution
With UpTrader, you get not only access to liquidity but also complete support to strengthen your brokerage business.
Reach us for more information through the live chat or by email: [email protected]
Your UpTrader Team
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