Former GKFX Execs Start Tech-Focused Broker Consultancy

Nikolay Nikolaev and Diyan Doychev have both left GKFX to establish a new 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 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 Risk Management One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, Read this Term, 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.

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.