FX Blue wins national award for its FX FinTech business

FX Blue, a global market leader in FinTech solutions for retail FX and CFD banks, brokers and traders, has recently been awarded a Queen’s Award for Enterprise – the UK’s highest accolade for business success. The award was given to FX Blue for International Trade in recognition of its substantial and sustained year on year growth in overseas sales. We asked John Morris, Partner and Co-founder of the firm to tell us more about the work that he and his colleagues have been doing to grow the business.

September, 2018

John Morris
John Morris

John, how would you describe the mission of FX Blue and what it has set out to achieve?

The FX Blue group has been providing B2B and B2C services to the sector since 2010. Our B2B reputation is for innovative, high-quality software that works, and for flexibility, rapid support and sensible pricing. Our B2C reputation is for sophisticated trade analytics and software that traders really need. Our mission is to keep it that way!  

The company has two divisions, FX Blue Labs and FX Blue.  Please tell us a little about how they differ, the client segments they service and the solutions they focus on delivering.

FX Blue Labs is our B2B division serving banks, brokers, liquidity providers and crypto exchanges in 20+ countries with value-added, multi-lingual, software as a service. Our products include software that helps banks and brokers to attract, convert and retain traders, web widgets for data analytics and display (eg liquidity spreads/analytics, depth of market, order book), HTML5 charting for mobile, web and crypto exchange use, a broker tool for sales, compliance and financial analytics and so forth.  

www.FXBlue.com is home to our B2C division which provides our well-known free trade analytics engine and free sophisticated software – such as our Trade Simulator and Trade Copier – to traders in 120+ countries worldwide. The website provides us with live trade sentiment analytics and other big data  and is a great source of marketing resources for banks and brokers including 100% target market, GDPR compliant leads, advertising, ‘lookalike’ audiences and remarketing. 

Over the past eight years, FX Blue has rapidly expanded its global client base. What factors have influenced how this has taken place?

It has been a very interesting eight years. In 2010 our main overseas market was America; today it is Australasia. Our reputation for quality and professionalism has spread, often by word of mouth, and we are well known in the market. Our customers use our software to help distinguish themselves in a busy market and to keep themselves and their traders better informed.  Regulation, market diversification and increased competition have helped to drive the demand for our products. 

FX Blue Labs has created a suite of market leading multi-platform, multi-lingual apps. Which ones are currently proving especially popular amongst FX and CFD brokers?

Our apps suite offers 11 applications in 20 languages plus 15 indicators that are integrated with 10 trading platforms. Informed by feedback from the market, the suite has evolved over the last 8 years and is designed to meet the very different needs that traders have. Whilst our live trade sentiment indicator (based on our own data from our B2C site) is very popular we also have, for example, a fanatical following for our app that enables traders to link Excel to the trading platform. Whilst some apps are used more than others it is less about popularity and more about meeting all of the trader’s diverse needs.   

There is now a fast-growing demand for data and analytics amongst both retail and institutional FX market participants. In what ways is FX Blue ideally positioned to meet this and capture new business?

Yes, this is a growing trend which we are a part of. We derive big data outcomes, including live trade sentiment, from our B2C website (where traders upload their trade data for analysis). We also integrate with broker and liquidity provider LP/FIX connections to derive depth of market, order book and spread analytics data which we design into bespoke web widgets for display (including alerts and reports). We also offer a broker reporting tool which analyses broker data for sales, compliance and financial analytics purposes producing automated reports and web/mobile alerts.     

You must be thrilled to win the prestigious Queen’s Award for Enterprise. Was that endorsement for your business achievements completely unexpected and how important is it for your team and clients as well?

Yes, very thrilled and the visit to Buckingham Palace a highlight! The winners are often substantial global organisations and for FX Blue to be selected has been a great confirmation of the efforts and achievements of the whole team over the last 8 years. Winning isn’t just about showing material international sales growth, it is also about overcoming challenges and showing that FX Blue makes a strong social contribution. It has been a very positive event for both staff and customers and has definitely reinforced our reputation, especially overseas. 

There are currently a lot of exciting new products to trade (cryptos etc) and business growth opportunities around the world for brokers to take advantage of. What can we expect in terms of new products and services that you plan to bring to market over the next few months?

We are continually adapting our core products to reflect the need to address new platforms, markets and instruments.  Our new HTML5 web/mobile charting product is doing well in both the fx and crypto sectors. We are currently reviewing launching a competitive mobile gamification app designed to entertain, educate and drive marketing opportunities in the fx and crypto space.