It has already become a good tradition for the world’s forex broker No.1 according to Masterforex-V Academy rating Forex Trend to hold open conferences on a monthly basis. These events enable a live dialogue between traders, managers, and investors. In this reference the company’s management gives a close look to all questions that are interesting to participants, thus giving exhaustive answers to each one.
Another feature of conference from Forex Trend is the fact that, owing to wishes, advices, and recommendations of our listeners, development of our company’s innovative technologies and unique services happen much quicker and have higher quality. Let alone regular modernization and improvement of trading terms, products, and services.
Why World’s Best Broker Needs Conferences?
“At present time our company is the only forex broker that holds online conferences with its clients and anyone who wants to find out “first hand” about the company, its services, products, and technologies,” says the General Manager of Forex Trend Andrei Polishevich.
Within the framework of these events that gather numerous listeners the company’s management informs on perspectives of its further work, its vision of improving trade with the help of unique PAMM accounts and PAMM account indexes, development of new services, minimization of investment risks, entering the new level of relations between investors and managers, etc.
“Besides, we are pleased to get your comments and wishes on all directions of our activity, including direct trade or investment at financial markets, as well as such large-scale projects as “Investment Consultant”, contest “A Million to Skillful Hands”, and bonus offers. In addition ot this,” informs the specialist, “Forex Trend provides an unprecedented service of insuring investments.
Today our workers literally include the best managers in the industry, whose names are widely known outside CIS countries. Veronica Tarasova, Pavel Svantsev, Andrei Kolos, and many other traders, including winners of the first contest “A Million to Skillful Hands”, manage over millionth means belonging to large-scale international investors, thus increasing them almost every trading period. It is pleasant to admit that many of them respond to requests of participants of conferences and have direct communication with investors, providing statistics of their trade if necessary.”
Due to effective work of Forex Trend managers and technologies, its PAMM account indexes have exceeded their stock analogues, even such global as Dow Jones index S&P 500, Nasdaq, Nikkei, etc. For more details read the “Market Leader” article “Forex Trend PAMM Indexes – Best Decision for Investors”.
“Current high level of mentioned services, as well as that of new unique projects of Forex Trend that are yet to come, to a large extent result from conferences. To be more exact, they arise from interesting and constructive ideas and suggestions of listeners, most of which are put into life,” admits Andrei Polishevich, “I suppose, similar things will happen according to the results of the recently held conference, which has become one of the “deepest” and “broadest” conferences by the number of participants and variety of issues raised.”
Issues Discussed at Forex Trend Conference in December
“On December 03, 2013 Forex Trend held another online conference with its clients and anyone who is interested in our activity,” says Andrei Polishevich, “in my opinion, it has become the most global one in terms of raised issues and suggested ideas, wishes, and comments.
I cannot but be pleased by the fact that every new conference involves more and more managers of our company, who suggest rather interesting, well-though, and perspective projects for more effective broker-manager-investor relations.”
“The latest conference has also set a new record on the number of listeners, namely, over 170 people. I consider this fact,” speculates Andrei Polishevich, “not only as rising popularity of online conference with management of Forex Trend, but also as a proof that the company has chosen the right way of its development, which attracts general public.
By the way, not only ordinary traders and investors successfully work with us and accumulate their capitals owing to investing in the company’s PAMM indexes and PAMM accounts, but also many famous people, representatives of sports, culture, politics, and show business. Thus, for example, a widely known actor and director Gosha Kutsenko has recently told on his impressive success from three-year investment in Forex Trend products.”
On Providers of Liquidity
“At the beginning of December conference there has been a detailed consideration of a wide range of questions, devoted to liquidity and operation of trading terminals of Forex Trend and Scolapino Finance, main company within Forex Trend Group. In particular,” says Andrei Polishevich, “many people were interested in Forex Trend cooperation with Sucden Financial, there have been numerous questions on why EXANTE company has been chosen as a new provider of liquidity, whether Skopalino is a provider for Forex Trend Limited, whether EXANTE or Skopalino effect market transactions, and much more.”
All these questions have been answered by Business development Director of Scolapino Finance Pavel Krymov. In particular, he has explained that Forex Trend gets liquidity from Scolapino Finance and EXANTE, a corresponding agreement with the latter was signed on March 15, 2013.
In his turn Andrei Polishevich has added that Scolapino Finance and EXANTE are currently divided by symbols: “EXANTE is a provider by forex instruments, whereas a former scheme with Sucden Financial is used for gold and silver” (Scolapino Finance is a direct provider − editor).
When answering questions about cooperation with Integral, Director General of Forex Trend Oleg Polishevich has admitted that it will be prolonged, “but we are most likely to provide liquidity to the group on our own (namely, Scolapino Finance, Forex Trend, and Integral). This is connected with widening a product line.”
On Order Recovery
The issue of order fulfillment in the time of closed market and their recovery (opening by the same price) is topical for many listeners.
Director of Forex Trend Maksim Kozak explains, “The notion of market operation is broader than a trading session, which we provide to our clients. We provide a trading session when the market is rather active, but is not in the critical condition of being sleepy or having providers of liquidity open.”
He has given a detailed description to the process of closing managers’ deals when a trading period is coming to an end. He has also informed on defense mechanisms of traders’ positions, prevention of faulty closures, and opportunities of recovering faulty closed orders in MT4 terminal.
“In the rare cases when МТ4 knocks positions out of the market, but they stay, or vice versa, we protect the interests of our clients. This also concerns recovery of deals,” added the specialist.
In this reference management of Forex Trend has also explained that deals are closed in two stages: closure at the market and closure in МТ4. Faulty closure of deals in МТ4 does not always result in closure at the market; as a rule, this does not happen. Recovering deals in МТ4 is no big deal if positions have not been lost at the market, and the company does not carry any exchange rate risks.
Speaking about failures in orders processing, Maksim Kozak has informed that the company has refused from some software and providers, “which, in our opinion, do not work in an optimal way. This part has already been rewritten, and a testing period is getting over”.
The issues of working with news, macroeconomic statistics, banks intervention, and some other have been raised in this reference. Despite the fact that no broker can influence such situations, owing to its dynamic development and acting for the benefit of its clients, Forex Trend tries to make the process of referring a request to providers of liquidity quicker in any market conditions. Representatives of the company have informed that this process will be slightly reorganized in the nearest future.
On Possibility of Implementing Alternative Software for Market Operation
In his comments to the issue Maksim Kozak has explained, “We are always trying to use alternative software of our own production. The practice shows that this is more effective and reliable, plus it gives us more opportunities.”
Speaking about cooperation with third-party developers, the possibility of implementing a new trading platform Astratrade is being actively discussed at the company’s forum. However, Forex Trend gives priority to wishes of its clients and necessity of such product.
According to Pavel Krymov, most feedbacks on Astratrade are positive. Therefore, “if its technical input enables cooperation with providers of liquidity in the quality that we need, we may use this software”. After the New Year the terminal is going to be tested on compatibility with providers of liquidity that Forex Trend cooperates with. As a result, the decision on implementing this trading platform will be made.
Oleg Polishevich has remarket that in the framework of widening its technical base Forex Trend may implement one more trading platform CQG, which is currently available only in Scolapino Finance.
On Whether Forex Trend Keeps Cent Accounts and 0.01 Lot Reduction on PAMM Accounts
“At this moment there is no necessity to introduce cent accounts. Brokers that offer such accounts will be pleased to take some part of clients who are starting to familiarize with the market. We have always been working by the principle of providing platforms for already established traders. Therefore, we do not see any perspective in lowering terms and creating additional loads on our capacities. The same can be referred to reducing lots,” commented Andrei Polishevich.
Other Topical Issues
It is almost impossible to cover all issues raised at Forex Trend conference in one article. We will briefly highlight the most topical ones. For example, why deals cannot be effected during the first minutes after market opening, how to understand that deals enter real market, but are not traded within the company, is there any regulation of working with providers of liquidity that have delayed fulfillment, when will Forex Trend enter FORTS exchange, when will the company work by the principle “one type of account – one actual account”, etc.
By the way, speaking about the last question, which has often been asked during previous conferences, Forex Trend has explained that, at a client’s wish, it may implement an “Account Delay from Personal Cabinet” option, which will make it possible to create the same type of account. This is particularly topical for traders who would like to have a clear statement when testing new TS.
The question of limiting the volume of lots to no more than 1000 units has been answered by Pavel Krymov, “If the number of lots exceeds one thousand, liquidity is hard to be provided. 1 000 lots equals to 100 millions in currency of contract. In order to satisfy it, a provider of liquidity will have to resort to higher levels. As a result, the price of opening will be higher than expected. With such volume of overall lots 1-point difference after the 4th sign will already amount to 10 000 dollars. Therefore, if there is a necessity to trade such volumes, one should rather divide them into several smaller orders.”
Many listeners have also been interested in the Company’s attitude to refback services of agency reward or commission fee on ІВ-partnership. In this reference, Maksim Kozak has stated, “We discourage activity, which is beyond our company’s regulations. In other words, if somebody attracts clients offline by using his own methods, he does it at his own peril. However, if we see that his activity potentially may do harm to current clients, we suppress such activity.”
Not least of all, the conference has raised the issue of implementing PAMM 3 system, which is going to start in spring 2014. According to speakers, PAMM 3 will make manager’s offer more flexible, thus making it more interesting to investors. The system also presupposes such functions as constant fixation of maximal drawdown, ability to attach to a new PAMM account the history of trading from other PAMM accounts of the manager, charts, etc.
By answering a rather provocative question “Is Forex Trend likely to go bankrupt or does the broker have no risky assets?” Pavel Krymov has said, “The company uses exclusively its own means for personal trade, as well as for holding marketing and advertizing actions. Besides, regulators and other institutions maintain very strict control over this. I think that, theoretically, any broker may face bankruptcy, but it is not likely to happen to our business model. The main factor of our company’s reliability is the scheme that eliminates any risk.”
Business Development Director of Scolapino Finance has also spoken (once again) on the companies that conduct an audit of Forex Trend Group, regulators that have licensed the company, covering accounts, opening of the company’s representative offices in Russia, and many other issues that have been widely discussed during previous conferences.
By the way, one of the new projects that are to be realized by Forex Trend in the nearest future concerns a contest for investors that will start after the New Year. What is more, there are plans to cooperate with a new payment system, which enables operating with bank payments, Ukrainian hryvnias, Russian rubles, etc. The question of direct replenishment of deposits from plastic cards is also being considered.
“In a word, Forex Trend, as usually, has a variety of ideas on improvement of current services and implementation of new technologies, products, and services. Ways of putting them into practice are even more. I would like to highlight again that most project are based on wishes of our company’s traders, managers, and investors. By means of online conferences anyone can not only familiarize with all nuances of the company’s activity, but also make suggestions on even more effective, reliable, and highly-profitable trading or investing at forex market. Most perspective, original, and, most importantly, effective of them will certainly be implemented by our company,” highlighted Andrei Polishevich..
