State your name, company name and position please:
Hello, I am Aleksey Kutsenko, CEO and founder of Tools For Brokers Inc.
Describe your company with three words:
Forex Technology Innovations
Please go into detail about the Company, its market segment and recent developments:
Tools For Brokers Inc. is a software developer for Forex brokers and other financial institutes. We provide a full range of ready products and also develop any custom solution to meet very special needs of the client. We develop solutions for almost 5years and provide our service to more than 100 brokers all over the world.
How did you arrive at your current position, and what expertise do you offer the Forex Industry:
I began as a software developer in one Forex broker and after getting enough experience started my own company. During last 7 years I’ve collected much experience about trading platforms work and configuration, market behavior, and financial software development. Right now I am involved in several projects, and trying to bring unique ideas into current Forex industry.
Please elaborate on your industry experience, and what you have achieved since being appointed CEO.
As I mentioned I passed all steps from software developer in Forex broker to director of IT development, and finally became CEO of my own company. I know each daily issue which brokers faces, because I faced it also when I worked in such companies on different positions. I know how to solve it and even how to avoid it. So the main idea of all our solutions is to help brokers in their daily work and make it easy and smooth.
What are your present issues and challenges and what is your plan to steer the company through them successfully?
Today we can see a lot of newly established software companies trying to find their place in this business, so we have a lot of competitors. But, of course, we are more experienced and trusted by brokers than such new companies. We will continue to provide our best service to each client and we will also offer new ideas and solution to meet market requirements.
Does your company focus on the domestic market or does it have a global presence?
We work with brokers from any part of the world. We have clients in US, Europe, CIS, Asia, and even in Australia. Brokers all around the world are searching for technical solutions and support and we are always glad to help everyone.
What is your company’s plan for the next two years? Please detail any expansions, technological developments, mergers/acqusitions or proposed entries into new markets.
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Right now we are developing our own trading platform which will consist of the most innovative ideas of last years in Forex market. We will launch it in 2014. We are trying to make it convenient for every retail client: small and professional.
Each client will be able to configure his own layout. Novices will be able to choose simple layout with only basic Forex trading functions, professionals will be able to choose layout with complex functions and abilities for data analysis’s. Brokers will be able to configure platform to meet their unique needs.
It will be suitable for STP brokers and market makers or mixed models. Datafeeds, bridges, signals, social components will be integrated into the platform. We will also introduce add-ons market for brokers, where any developer will be able to offer his solutions and add-ons. The platform will be opened for any kind of developers. We will have all types of API and SDK, so we will try to build community of traders, brokers, developers around our platform.
One more key service which I would like to emphasize – FX Consult. We would like to offer consulting and support service to the brokers. It is very difficult to find skilled enough employees today. We have enough experience and can take all headaches of configuring, managing trading platforms and all other technical questions. We will help to find best solutions for brokers and serve their daily needs.
Also I started a separate project – ForexStars. It is broker-independent Forex tournament platform. Any trader of any broker will be able to take part in our tournaments just by linking his trading account to our platform. It will enable traders to prove their competence by competing with each other and will give additional income. Such social direction is very interesting today for retail clients.
What is your predictions for the coming years of the Forex industry as a whole?
Today trading has become more socially oriented. I think in a few years we will see many social projects for traders. Trading signals, independent tournaments, deep social networks integration – this is the future of the Forex Industry.
Do you think that the forex industry is transparent enough and that most companies including yours pay enough attention to due diligence?
Forex industry is always in formation stage. We could see that a lot of companies are in search of new regions where Forex activity is not popular enough, and try to bring their service to that regions. And, of course, there are no regulations in such regions for Forex market. Companies sometimes use it and provide not safe enough service to clients in those regions. Another side of the coin: As Forex becomes popular in some region, local governments try to create regulations, and sometimes they make a lot of restrictions and rules which make trading just inconvenient for traders. We could see it right now in India, Indonesia, for example.
Anyway, I will do everything to make the market more transparent if I will have such possibilities.
Recently I joined Dispute Resolution Committee of The Financial Commission. This organization is set out to provide a new approach for traders and brokers by resolving any issues that arise in the course of trading at Forex market. I hope that such organizations will help to make Forex trading more friendly and transparent and hope that my skills will be useful for this organization too.
Do you read Forex Magnates Quarterly report?
Yep, I even think that Forex Magnates is the best source of the Forex Industry news.
To allow us to get to know you a bit better, let us know something that interests you, and what you enjoy doing in your spare time.
I could say that I really love my job. But I also love everything which is based on IT innovations; I am very interested in new technologies in all aspects of life.
Also I like to make a curve on a snowboard and drink a pint of unfiltered beer with my friends.