The evolving nature of the retail FX market has created a diverse operating environment. MT4i, a software solutions provider, operating since 2009 has reported that it is enhancing its core offering to comply with major changes taking place in the world of currency trading. The firm has renamed its organization as FX Blue Group with key differentiations in its retail and institutional offerings.
FX Blue Group will officially supercede MT4i from the beginning of July. The group has distinguished products for both end-users (b2c) and operators (b2b). The new strategy is a byproduct of crucial changes impacting the platform market whereby new technologies are creating a more open and interoperating landscape. The sophistication among retail investors has directed vendors to create an ‘apps’ like offering which enables traders to dictate the type of add-on or plugin that complements their trading style.
A spokesperson for FX Blue Group explained the process of change to Forex Magnates during a telephone interview, saying: “The rebrand follows a year of developments designed to expand the scope and reach of the business, resulting in a wider service offering for brokers and traders. The company’s market-leading apps are now integrated with ten trading platforms, its core app portfolio increased from three to ten in order to meet a broader range of broker and trader requirements, and all apps are now available in 13 languages, ensuring their relevance in most major world markets.”
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Complementary tools & systems is the latest trend hitting the FX markets, following on from the evolutionary developments that have taken shape over the last six years to reignite the industry. The plight of automated trading took shape in 2008 with the infamous Fap Turbo-EA causing havoc at several brokerages. This has been followed by the hype of social trading which is reaching the first phase of consolidation. The latest trend of open-ended solutions is believed to be the next big thing, as developers, traders and technologists can create useful additions that can enhance the trading experience of currency traders.
John Morris, pictured, Business Development Partner at FX Blue Group, commented in the press briefing, he said: “The rebrand gives us a strong identity as we evolve the business, building on our reputation for designing and developing market-informed apps and other services which have a genuine relevance to brokers and traders. The fact that our services work client-side (with no server integration required) enables brokers to make rapid, marketing led decisions that can be implemented, launched and adapted to reflect changing market conditions very quickly indeed.”
The congested retail broking environment has become a stale sector where brokers have little key differentiators, with platforms, pricing and products being similar. However, with an apps-based offering, brokers have the ability to build on the core terminal and customize the platform to suit the firm’s corporate objectives, additionally creating an environment that can quickly respond to regulatory, technological and general changes affecting the market.
Under the new banner, the firm is launching its redesigned website with connectivity to a number of trading platforms, and has connected to ten leading global trading platforms used by traders in the FX and CFD markets.