Nikolay Nikolaev and Diyan Doychev have both left GKFX to establish a new forex brokerage consultancy company. The firm’s name is FX Brokers Solutions, and its focus is to provide cost-optimization services to brokerage companies.
The duo goes a long way back working together since 2012. Doychev has been working in the industry since 2007 when he joined Bulbrokers. He was Risk Manager at ActivTrades where he crossed paths with Nikolaev who was the broker’s CTO at the time.
After spending over six years working together, the duo has decided to establish its own company which is focused on a variety of tech challenges which brokers face these days.
Risk Management, Data Monitoring & Beyond
Having created several of the core systems at ActivTrades and GKFX from scratch, Nikolaev who is an experienced CTO in the industry is taking the lead as CEO of FX Brokers Solutions.
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With his vast experience in risk management and compliance, Doytchev is taking the COO role.
FX Brokers Solutions is focusing its efforts on providing brokers with a variety of solutions. Those include risk monitoring and management, cost optimization through technology, server setups and analysis of client data.
The company’s execs are taking the lead in delivering a vast array of tailor-made solutions for brokers at a time when the industry is facing increasing pressure to reign in costs.
The key metrics which firms have been focused on during the past several months show a decline in revenues. Earlier today IG Group reported a 20 percent income decline from its operations in the EU and the UK.
With companies becoming more cost-conscious and shifting operations to more competitively priced cities, the market should focus on how to tackle the rising challenges in a changing industry.