UpTrader 2019 Progress Report or The Checklist for 2020: Definitive Kit of a Forex broker
Today, financial technology is moving forward at an exponential rate. In the highly competitive environment of Forex, it’s vitally important to follow the trends and promptly adopt new technology as it appears. The end of the year is a good time to make sure you’re up to date with the latest tools that can make your company stand out among competitors and bring as many new clients as possible.
In 2019, we completely updated UpTrader’s product line. As we approach the new decade, take a look at a set of innovations developed by UpTrader that can fundamentally transform a brokerage business and put it above the competitors. Do you have the definitive kit of a modern Forex broker in 2020?
Your entire business in one platform: UpTrader CRM 2.0
We know how important it is for brokers to see the big picture regarding both clients and partners. Thanks to the 2019 upgrades, our brokers can control the conditions of multilevel partner networks and see client trading analytics. The platform is easy to use and encompasses all business processes, it includes three interfaces: client area, back office and admin panel. Early next year, the ecosystem will be expanded by a mobile app for account management and trading.
Bringing liquidity to a new level with AMTS solutions
The quality of liquidity you provide may account for half of your success. In 2019, UpTrader struck a partnership with AMTS Solutions, and now our brokers can enjoy the aggregation of liquidity from an unlimited number of providers. This brings order execution to a new level and allows for a more flexible risk management system. A perfect choice for those who look for a high-quality flow with tight spreads and better order execution.
RAMM: bring all kinds of traders together
Business growth requires a constant influx of new clients while attracting traders and investors can be very difficult without a copy trading service. Make trading easier for beginners and encourage professionals to trade more actively with a new-generation copy trading system RAMM (Risk Allocation & Money Management) by RAMM.TECH. Unlike similar services, it doesn’t put any load on the trading platform server and ensures the high accuracy of copying.
Starting a brokerage firm is now even easier
The year 2020 promises to be a year of customization and turnkey branding. However, it’s still possible to get many advantages of classic trading platforms in a simpler package to meet a modest budget. Earlier this year, we upgraded UpTrader’s web terminal that is already in use by several large brokers. The new software allows launching a full-fledged broker just in a few days.
What’s in store for brokers in 2020?
The year ahead doesn’t promise to be any less interesting or intense. We’re looking forward to continue developing the ecosystem of UpTrader CRM.
The CRM system will be expanded to include such features as voice over IP, an enhanced section for sales departments, and a new email delivery system.
Clients will be able to access their accounts in a new mobile app.
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Vasily Alexeev, UpTrader CEO
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.