What guarantees success to a forex broker? High quality and service? Certainly. Safety guarantees of clients’ transactions? Of course. Maybe regular implementation of innovations and best trading conditions? No doubt. Eventually, all this in combination with PR, company’s awards, and licenses from leading regulators creates the aura of broker’s attractiveness, thus raising traders’ trust.
Forex Trend company possesses all the abovementioned features, which makes it one of most popular forex brokers. First and foremost, its popularity is connected with development of unique investment products of PAMM account indexes and “Investment Consultant” service, which has no equivalents. Besides, most successful managers work in Forex Trend; their total sphere of management amounts to over 50 billion dollars! What is more, balances of their accounts keep rising due to regular and successful trade, which attracts even higher sums from private and large-scale international investors alike.
However, even despite the attractiveness of PAMM indexes, “Investment Consultant”, and other highly profitable products, the broker keeps moving further. Moreover, unlike many companies that keep their developments a secret, Forex Trend, on the contrary, is open to those interested in trade and investment at forex market.
In this reference, it should not be left unnoticed that Forex Trend has become the first forex company to organize an open online conference with participation of its top management on one side and its clients on the other. In such a way Forex Trend has shown its maximal openness to traders and investors, just like to anyone willing to earn money at forex market.
The “Market Leader” has previously described about this unique event at forex market in the article “Hot Line with Forex Trend: Plans, Perspectives, and Development”. Forex Trend has recently held another online conference, which has gathered even more listeners and risen rather “burning issues”.
Acting for Clients’ Benefit – Main Task of Forex Trend
“Statement of the company’s top management that broker’s activity is largely based on wishes and recommendations of its clients, which serve the basis for modernization of Forex Trend current services and implementation of new ones, has become the key concept of the conference. As a result, details of the event will prove useful for everyone: brokers, managers, investors, and those willing to trade and invest,” says Forex Trend General Manager Andrei Polishevich in his interview to the “Market Leader”.
The issues discussed by participants of the conference were so many that two hours was hardly enough (standard webinars and conferences usually last slightly more than one hour). The issues included licenses, PAMM accounts and PAMM account indexes, communication problems between investors and managers, ethical aspects of agents’ work, questions on suppliers of liquidity, and much more.
About Licenses
Many listeners were interested in Forex Trend further activity, resulting from the fact that the company has received a license from Securities and Exchange Commission of Cyprus (CySEC). For, it is widely known that European financial market regulators set special requirements to broker companies. In this reference, Pavel Krymov, Business Development Director of Scolapino Finance, main company within Forex Trend Group, has stated:
– When the issue of license and necessity to work according to its requirements was raised, we have received a license within the limits of the European Union legislation. However, we have encountered one nuance: EU legislation ban or considerably limit displaying public ratings of PAMM accounts. Refusing from PAMM accounts or imposing limitations on them goes in contrast to the interests of investors, traders, and investment consultants. Therefore, we have decided to work with PAMM accounts according to New Zealand legislation and trade – according to the European one. Consequently, each of the two companies (ML: Scolapino Finance and Forex Trend) works in its own sphere, being joined under one brand, which meets the interests of traders and investors.
About Quotations and Suppliers of Liquidity
Not less topical question of Forex Trend indicative quotations has been answered by the company’s General Manager Andrei Polishevich. He has highlighted that the company will improve this service so that a client could open his position maximally close to a certain currency pair, setting the price that he wants and having minimal dependence on quotations’ indexes.
In his turn, Forex Trend Director General Oleg Polishevich has explained the reasons of refusing to continue working with supplier of liquidity Currenex. According to him, this is connected with the company’s plans to enlarge its forex market services with contracts for difference, indexes, futures, and special offers. Currenex current technical resources were unable to add these new services, for they are overloaded with quotations from different suppliers, including Currenex symbols. The specialist claims that new suppliers of liquidity will be added in the nearest future. They will provide shares that may be used not only on МТ4, but on other trading terminals too. Consequently, spreads will decrease, new tools introduced, and new services suggested.
About Guarantees
When answering the question about possibility to receive a documentary proof with a stamp, Andrei Polishevich stated:
– Such possibility has already existed before. A client may send a request to our legal department and receive a printed contract, authorized with a stamp. The contract includes information on a certain sum at a certain date and for a certain investment period.
This service is absolutely free for VIP-clients. Besides, they are provided with documentary proved account statements. Ordinary clients are supposed to pay for courier delivery to one side, whereas redelivery is paid by the company. Consequently, the client does not have to incur additional expenses.
About Automatic Closing of Deals
This question, worrying for many participants, has been answered by Forex Trend Technical Director Maksim Kozak:
– Deals are currently closed according to market time; therefore, we have introduced additional terms that simplify investment issues. In particular, careless managers that fail to close market deals are deprived of an opportunity to output money into this rollover. Besides, during the period of Friday-Saturday investors may see the real picture, which they could previously see only when the rollover was finished.
About Manager’s Negative Capital
According to Maksim Kozak, PAMM system of Forex Trend company has always been improved following recommendations of its users, aiming to provide then with maximal comfort while investing. Our goal is to act for the benefit of investors and managers.
“Managers replenish a negative capital, if such arises, with a balance transaction, but not a trading one,” explains the specialist, “unfortunately, in the conditions of regulation we cannot use a balance transaction as an income of a third party. This is manager’s money, and he is an investor of his own account, so no other variant, except the current one, may be applied. However, we have some ideas to discuss with managers, for which purpose a special topic will be set at our forum.
About Design
“We have already made the first step towards implementation of new design of the company’s web-site,” said Maksim Kozak, “the second step concerns gradual implementation of functions, suggested by our clients. In this reference particular attention is paid to setting the system of informing about the company’s news and subscription to news streams. Besides, we are considering the option of SMS-forwarding. Confirmation of SMS-forwarding service will also be implemented. As a result, the new design will introduce shorter and more optimal ways for all transactions.”
“What is more,” explained the specialist, “our ratings and other resources will provide more information, including daily update of a drawdown, with the help of which you will see current drawdown and previous figures – either average, or maximal drawdown for the current period or the period that you choose.
About Regional Representative Offices
Pavel Krymov:
– This question is to be discussed individually because of different working conditions in certain regions. For example, Moscow will set completely different requirements and suggestions than small towns. Leading Russian consulting company is currently developing business plans that would describe partner’s actions, as well as his possible expenses and earnings.
Official opening of Forex Trend representative office in Russia is supposed to be held within several months. It could probably happen earlier, but we are holding negotiations with a large number of those willing to become our partners, and this takes much time. What is more, all of them are serious and competent people, each of which wants to become an exclusive representative of Forex Trend in Russia.
About Managers’ Reports
According to Pavel Krymov, online system of reports will be certainly introduced for managers of relatively periodic PAMM account, where the issue of a drawdown is extremely topical. If a manager chooses a PAMM account, he will be automatically connected to the online system of reports, and he may not decline this option. The new service is supposed to appear within a month.
Other Interesting Issues for Listeners of the Online Conference
Participants of the online conference have also been interested in many other questions; all of them have received exhaustive answers from Forex Trend top management. Thus, for example, there has been raised a topical issue of connection with the company’s managers, who rarely contact with their investors. In this reference Andrei Polishevich has stated that the company keeps asking its managers to communicate with investors at the company’s forums or in any other convenient way. Pavel Krymov has added:
– Experienced and competent managers understand the importance of online communication with investors; some of them do it more frequently, some – less frequently, and some fail to do it at all. We have no means to force them to communicate with investors, but investors may vote by their money against managers that fail to understand the necessity of communication with them. If a manager fails to contact you during a lasting period of time, you may output the money from his account.
By the way, it has always been announced in the course of the conference that in the nearest future print media will publish interviews with some top managers of Forex Trend company.
Besides, attendants of Forex Trend Internet conference have found out about:
– new approaches to statistics of closed PAMM accounts;
– schedules of deposits downloads;
– possibilities of manipulating their accounts;
– transferring protected accounts into the category of relatively periodic ones;
– invitation of new top management to the company;
– plans of new contests for managers and investors (by the way, it has been mentioned that the extremely successful contest “Million for Skillful” will be held on an annual basis, and there will soon appear information on the closest one, which is scheduled for the second half of 2013).
“Forex Trend management has also pleased its clients with information on modernization of “Investment Consultant”, which will become automated. Besides, new trading terminals will appear, including exchange ones, and new innovative technologies of more effective and comfortable trade and investment will be introduced in maximal accordance with suggestions of all our clients,” concluded Andrei Polishevich.
