Dennis De Jong Talks Phasing Out of UFXMarkets Brand, Launch of UFX.com

As they start transitioning to a new brand, Dennis De Jong, the Managing Director ReliantCo Investments Ltd. talked with Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term Magnates about the new direction the UFX brand will represent and much more.

1. The site seems to focus on ease of use. How will that actually work?

We wanted the site to be focused, personal and simple. It was important to have a site that was approachable. Thus, our sole focus is comfortable trading. We cut through the jargon and provide content in a language that people from all walks of life can make sense of. We break down important financial data and explain it in terms they’ll actually understand.

A secondary focus of ours is an ‘old fashioned’ approach. This is applied throughout our handling of clients by humanization of the Online Trading Online Trading Online trading represents the trading of fiat currencies, digital currencies, commodities, stocks and indices, where traders and investors intend to make a profit, via the purchase or sale of the aforementioned products. This is done through an electronic network, made accessible by brokers in the form of an online trading platform or hub.Online trading continues to see a rapid growth year on year, due to a number of reasons. Firstly, the number of brokers offering their services, with more mone Online trading represents the trading of fiat currencies, digital currencies, commodities, stocks and indices, where traders and investors intend to make a profit, via the purchase or sale of the aforementioned products. This is done through an electronic network, made accessible by brokers in the form of an online trading platform or hub.Online trading continues to see a rapid growth year on year, due to a number of reasons. Firstly, the number of brokers offering their services, with more mone Read this Term experience. We get that human contact is especially important when it comes to people’s money. People need and still want conventional support, even when doing business online. We recognize such notions by fine-tuning our support and making it better than ever. We deliver this promise through our actions and not just words. With more dedicated account managers, and enhanced 1-on-1 training programs, we are there for our clients every step of the way.

2. What substantive changes will there be from UFXMarkets.com?

Our clients spoke and we’ve listened by creating a brand new site with content that truly matters. Our tagline “where trading makes sense” maintains this core value. Most financial sites are filled with jargon and an overabundance of technical terms. We take the same information, express it in fewer words, and in a language that everyone can understand.

As mentioned before, we are continuously working hard towards creating the most comfortable trading environment for our clients. Consequently, we’ve added more payment methods to the site, coupled with the same first-rate security and privacy as before. Traders can now choose from 18 of the most popular payment options to fund their accounts.

Working from a commitment to reach as many Traders as possible, we have expanded our Global reach. The ufx.com site caters to 18 different languages with a growing number of offices worldwide. In 2014, we will continue to evolve and expand our local presence into new regions based on the identified needs of our Traders. Our strategy is focused and deliberate by building a local management team that understands regional concerns and practices.

3. A three-letter domain like UFX.com can cost a small fortune these days, can you share how much it cost and why do you think it is worth it?

We appreciate the importance of brand recognition and UFX.com has already been well associated with UFXMarkets by many of our Traders, so this is a natural evolution for us. The new site will enable our Traders to get a glimpse of the new environment we are creating for them. For this, we are just at the start of a number of innovations that we will make available over the next months and the UFX.com site marks just the beginning.

4. How successful is UFXMarkets in terms of numbers (employees, traders, volumes, earnings...). Will that brand be retired or stay in parallel to UFX?

We have been experiencing a substantial and robust growth year on year and our global footprint is becoming more visible as we are offering localized services in many languages. Our focus on easy to use technology will give us a further push - it differentiates us from many of our competitors and hitting the pulse of our times. For the first several weeks both sites will be operated in parallel enabling each Trader to access their account through both environments. Eventually, UFXMarkets will be phased out.

5. What are the target markets for UFX? Will it be regulated in one or more jurisdictions?

Traditionally we are focused on Europe and the Middle East but there are many further countries of interest and we are gaining traction in several new territories. As for the regulation, we are currently regulated in two jurisdictions and will increase our regulatory infrastructure as per the market requirements and our Traders demands. Across the board we hold ourselves out as adhering to the highest ethical standards and business conduct independently of where and whom with we do business.

6. How much capital, manpower and time will be invested in UFX?

We are already an established company and the launch of UFX.com is just a natural progression. What is most essential, is that we foster an innovative corporate culture which allows us to excel and as always, we shall devote our full attention to giving our Trades an unparalleled trading experience and teaching them the in’s and out’s of the financial markets.

7. Is there anything else you would like to mention?

We are a customer-centered company driven by technology. Utilizing a proprietary trading environment enables us to develop and launch new features at short notice, giving our Traders an edge when trading the financial markets. For example, we have recently launched and completely switched to a pending bonus system, whereby our new clients will receive a 30% bonus into a separate bonus wallet. The principle is simple and straightforward: once the agreed trading volume has been reached, the bonus becomes immediately available for trading and/or withdrawal. Clients who prefer to withdraw their account balance before reaching the target trading volume are of course free to do so – no strings attached. Over and above that and due to the fact that the bonus is kept in a separate wallet until released, all accumulated profits are also free for withdrawal at any time. We are not only the first Cyprus regulated forex company to commit to such a trendsetting switch, but we believe to have also set new standards in terms of clarity, transparency and fairness.

Our effort to reaching out to our clients is also manifested in our partnership with the England rugby legend Mike Tindall. Learning about our company and our vision in trading the financial markets, he proudly accepted to partner as our brand ambassador and the numerous charity events we have staged since the start of our cooperation have been tremendously successful. Mike, with his charisma and popularity is able to convey a message to the public that perfectly reflects our principles: devotion, determination and excellence.