Albina Zhdanova
Albina Zhdanova

Tools For Brokers adds to offerings

Leading international technology company, Tools For Brokers provides software solutions to brokerage firms across the foreign exchange and cryptocurrency trading markets. The company has recently been making headlines with the launch of several new products including a powerful liquidity management platform. e-Forex talks with Tools For Brokers’ COO Albina Zhdanova to learn more about these developments and the plans the firm has for the future.

First Published: e-Forex Magazine 84 / Product Launch / January 2019

Albina, Tools For Brokers offers a wide range of turnkey solutions and responsive software for MT4 and MT5. Please remind us what your flagship products currently are. 

Yes, Tools For Brokers as a company is well-known for software and custom development. We came to a point where we had all the possible products for MT4 and MT5 developed: we have more than a hundred plugins. We’re very grateful that our experience is so wide and we managed to attract clients from all over the world. This has definitely given us enormous knowledge about the popular trading platforms and the market.

Thanks to that, we’ve come up with an enhanced offering for us to act as a full-circle technology partner for brokers. I’d call it our Business Intelligence: companies rely on it when they open a white label with us, consult our support team, choose to use our bridge to connect to LPs or employ our products to automate internal processes. 

What sort of clients are you catering for and do support all business sizes? 

We work with a huge range of businesses. It’s one of our unique advantages – we know the daily goals and questions brokers have at each stage of their development and how these differ from country to country. As a one-stop technology provider, we have everything from a ‘survival kit’ for beginners to enhanced offers for established, major companies that include Business Intelligence and our bridge with its smart routing system. 

Tools For Brokers has been around for a long time. We’ve seen many brokers growing together with us, from small white labels to big international brokers with well-known names. We’ve always been alongside such companies: today, we have different options for startup brokers in South Africa, one of the most important growth markets now, and for big conservative companies with licenses and offices all over the world. 

We closely monitor the capacity and performance of our service
We closely monitor the capacity and performance of our service

You have recently expanded your range of solutions with Trade Processor. What key features are available with this new liquidity management system? 

First of all, I should say that the bridge products are now far beyond just executing orders. They’ve evolved profoundly into risk management systems and they now act as a helpful tool for brokers like never before. 

We believe, and many agree with us, that the term ‘best price’ is too general and over-promoted. ‘Best price’ as usually used isn’t necessarily the real best price, the logic of it is not perfect for traders or brokers and there are much more and much better ways to work with liquidity providers. Smart routing and the live switcher are the key functions of Trade Processor

What makes Trade Processor so unique and what benefits does it provide? 

What makes our product different is that it’s designed with the purpose of helping brokers on a daily basis. It generates the reports not only for regulators but for the broker as well. It clearly shows the quality of liquidity providers plus data and execution; as a result, brokers can work more efficiently with LPs. 

Also, there is no ‘black box’ between your liquidity providers and your trading servers, so you always know exactly what the settings are. No-one else can interfere. It’s the transparency that our competitors don’t have, plus the stability that others can’t guarantee and of course unique speed of execution because of the lack of any intermediate engines. 

Brokers’ Business Intelligence provides various charts and  tables for clear and detailed presentation
Brokers’ Business Intelligence provides various charts and tables for clear and detailed presentation

Brokers’ Business Intelligence is another of your core products. What work have you been doing to integrate more functionality into this solution as part of your efforts to make brokers’ workflows easier and more efficient?

First of all I should mention that Broker’ Business Intelligence is a premium product. It’s designed primarily for companies interested in business analytics, analysing and looking at trends and taking high-level trading seriously. So far, the most important market for Brokers Business Intelligence is Japan. This is mainly determined by the level of development of brokerage around the world. I want to express special thanks to our Japanese customers: cooperation which has allowed us to see and realise the additional capabilities of an existing product.

Brokers’ Business Intelligence provides various charts and tables for clear and detailed presentation of brokers’ trading activities. The system uses control indicators such as average volume, duration, total deposit, total profit and so on. 

The 19 filters in the product are designed for quick organisation of data. Filters can be customised by changing or merging parameters, which makes it possible to create various reports that are unique and correspond to the specific interests of the broker in a particular region. 

Brokers’ Business Intelligence has a special section which provides information for the broker to analyse the impact of activities on groups of clients. The user can view the trading symbols that provide the maximum profit for traders as well as information that helps to judge clients’ activity in general.

Many FX technology firms are expanding their offerings to cater for increasing demand for crypto trading. How has Tools For Brokers responded to this rapidly developing market? 

We see a steady increase in the interest of our clients in cryptocurrencies. Of course, we can’t stay away from this trend. At the moment, many of our clients are considering offers for working with cryptocurrencies as an addition to their main portfolio. Some brokers are eyeing crypto as a possible main activity in the future. 

The uniqueness of Tools For Brokers’ approach is that we offer universal developments. Brokers can use them to work with forex and crypto markets simultaneously. For example, our Trade Processor makes it possible to combine these two activities. Using this development, the broker can trade and offer crypto CFDs with an accuracy of up to eight decimal places.

Looking ahead, what do you see as the greatest challenges facing brokers over the next few years and how will Tools For Brokers be looking to help address these by launching innovative new technology solutions?

If we look to the future, continuing with your answer to the previous question, it seems to me that the crypto industry will have an increasing influence on the development of brokerage: working with crypto is first and foremost an opportunity to attract a new audience. This market is poorly regulated in most countries. In my opinion, the growth of the cryptocurrency market will be faster than the forex market due in large part to ongoing high interest in deliverable crypto.

Undoubtedly, changes in legislation will also largely determine the work of brokers. For the crypto market, the main trend in legislation will be related to its formation, reduction and management of risk and increase in transparency. However, for the forex market, the influence of legislation will also be significant. Regulatory decisions contribute to the emergence of new technical solutions that allow the adaptation of existing software and brokers to the new rules.

In addition to these points, success in brokerage in the future will largely be determined by how much the broker helps the trader. More and more companies offer not only pure trading but also a range of additional services: analytical facilities, training seminars, solutions to minimise risk and more.

Probably the main trend of the coming year I expect is that more and more brokers will switch to MT5. It has high performance and provides the broker with nearly unlimited opportunities. The principles of working with MT5 are of course fundamentally different from its previous version, so one of our main tasks as an IT provider is to make this important transition for a broker as painless as possible.