Tom Higgins CEO, Gold-i
Tom Higgins CEO, Gold-i

Why are Business Intelligence tools so key for brokers?

Tom Higgins, CEO, Gold-i has created a multi award-winning Fintech company, renowned amongst retail brokers worldwide for its market-leading software which helps brokers using MetaTrader to make more money, cut costs, reduce risk and differentiate from competitors. In the next in our series of Ask Tom articles, Tom answers questions about business intelligence tools. With only 20% of MT4 brokers currently using such tools, he believes the majority of brokers are missing a trick on simple ways to make more money.

First Published: e-Forex Magazine 73 / Ask Tom / September, 2016

Why are business intelligence tools so important?

There is so much data in a brokerage that there’s no way a human can analyse it quickly enough to have a real-time sense of any impending issues or opportunities to make more money or reduce risk. How can brokers plan agile strategies when they can’t see the key metrics that are driving their trading business? 

Using a tool such as Gold-i Visual Edge gives them a real-time overview of their trading operations across all asset classes, helping them to plan more effectively and manage their risk better, too. 

What are the main features and benefits of a tool such as Gold-i Visual Edge?

Gold-i Visual Edge provides a comprehensive picture of a brokerage’s up-to-the-minute P&L, exposure risk and client trading profiles. Brokers have the option of viewing customised dashboards to see top line data or drilling down into any attribute such as client, currency or asset class.

Amongst the benefits of having such accessible data, brokers can quickly work out which clients should be A-Booked and which should be B-Booked. They can also monitor and remove toxic clients, spot unwanted scalpers before they impact profits and get alerts when exposure exceeds pre-defined limits.

Why is uptake of business intelligence software so low?

Historically, business intelligence tools for MT4 brokers either didn’t exist, were prohibitively expensive or difficult to use. They weren’t an option for most brokers. Now, when brokers set up, they know they need a bridge and perhaps a MAM but they don’t often consider the business case for investing in additional software. They don’t realise they are ‘giving away’ money that they could easily keep if they had easy access to the key metrics driving their operations.

Are such tools only accessible to larger brokers?

Not at all. Gold-i Visual Edge, for example, is an out-of-the-box product which is accessible, simple to use and fully integrated with MT4. We offer a modular pricing structure with a low cost entry point. 

Business intelligence software should be considered essential for all brokers worldwide – not an optional extra for forward thinking brokers.

To ask Tom Higgins a question in the next Ask Tom article, please email charles@aspmedialtd.com
Gold-i is a multi award-winning specialist technology company which helps MetaTrader brokers to increase profits and trade more effectively. The company’s products and services address four key areas: risk management, liquidity, integration, and hosting and server management. 

For more information, please visit www.gold-i.com