Top tips for selecting a technology provider

Tom Higgins, CEO of Gold-i, the global market leader in multi-asset retail trading systems integration, offers guidance on key areas for brokers to consider when selecting a technology provider. Prior to setting up Gold-i, Tom Higgins was a Chief Technology Officer in the City for over 20 years. He used his experience and perspective as a technology buyer to shape the Gold-i offering. His vision from the outset was to lead the market with innovative products which address a gap in the market and help brokers to trade or manage their risk more effectively. In addition to compelling products, he knew it was paramount to offer exemplary customer service at all times.

First Published: e-Forex Magazine 53 / Sponsored Statement / July, 2013

Tom Higgins explains further saying, “A customer-centric approach is at the heart of Gold-i’s offering and I believe this has helped us to differentiate ourselves in a competitive market – building customised products for our clients and being available 24x7 to support our global client base.”

According to Tom Higgins, choosing the right technology partner is critical to a brokerage’s success. He believes there are five key areas that retail brokers should consider. 

Customer service

Assess the levels of customer support. There is nothing more frustrating than needing help but finding that the helpdesk is closed or that your call always goes through to voicemail. Select a partner who can offer 24x7 service.

Market Knowledge

Select a technology partner who has a thorough understanding of the latest trends in multi-asset markets, with a strong track record in helping retail brokers to gain a competitive edge.

Products 

Test a range of products and assess them in terms of performance, latency, reliability and functionality. Gold-i offers free product trials and advises customers to ‘try before they buy.’ 

A Customised Approach

Make sure your technology partner can adapt or create products to address your specific needs. This bespoke approach will help to set you apart from competitors.

Scalability

Plan ahead to ensure you select products which will suit your future needs. The Gold-i Gate Bridge and our real-time back office integration product, the Gold-i Gate Link are highly scalable and will work with any asset class on a global basis. 

You will get a far better return on investment if you look beyond your current needs. For example, many retail brokers who currently want to offer just FX are selecting the Gold-i Gate Bridge because of its multi-asset capabilities and its potential to widen their business opportunities in the future. Select a system which will not restrict you as your business evolves.

Tom Higgins concludes, “It’s also worth pointing out the importance of considering all the true costs – don’t just look at the transaction fee. Significant additional costs can be incurred if the product performs poorly, if it has high latency or results in trade errors. If the system is inflexible or allows limited customisation, you may need to invest in additional products before too long.”

Gold-i’s flagship product, the award-winning Gold-i Gate Bridge is widely recognised as the world’s leading super low latency smart routing product and gives access to over 30 liquidity providers. Last year, Gold-i launched the multi-asset Gold-i Gate Bridge and became the first organisation in the world to transform MetaTrader into a multi-asset trading platform.  Gold-i also has a suite of over 20 risk management and execution tools, called the Gold-i Bolt-Ons.

For further information about Gold-i, please visit, www.gold-i.com

Top tips for selecting a technology provider