Technology Partners. Helping retail FX brokers to build a more successful business

Nicholas Pratt examines the challenges Retail FX brokers are likely to be facing over the next few years and how the industry’s leading technology vendors are helping them to meet them.

First Published: e-Forex Magazine 55 / FX Brokerage Operations / January, 2014

When it comes to considering the question of whether to outsource certain functions or to retain them in-house, Tom Higgins, chief executive of Gold-i has an unequivocal answer for any retail brokers pondering the issue.  “They should look to outsource as much as possible,” he says.  “Whatever you can get from a vendor, you should get from a vendor because otherwise you are spending your internal resource on developing something that you can buy in. This applies to both the mundane office management systems like email and web pages all the way through to your trading, back office and CRM systems. If you have a specialist service, then you should find a specialist vendor but if it is something that you consider extremely specialist, then that process is probably a good candidate for being retained in-house because it is an area where you will be adding value by developing it yourself rather than just incurring cost.”Tom Higgins“Brokers have to treat their vendor as a true...continued

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