Dr. Demetrios Zamboglou dissects a complex subject
FM
According to research done by Citigroup in January 2014, 84% of retail FX traders believe they can achieve positive monthly returns. When it comes to the magnitude of those returns, 41% of traders believe they can make more than 10% per month, resulting in a staggering yearly compounded result of 314% return on investment (ROI).
Despite the high expectations, by comparison, retail FX traders expect to underperform outright gamblers who, on average, expect to double or triple their capital each time they visit a casino.
On many occasions, they are willing to trust expert advisors otherwise known as “automated strategies” or “signals,” based on technical analysis and invest their capital, possibly since retail traders believe that future events are based on past outcomes.
The persona of a trader
People who trade FX want to feel like (and be seen as) Wall Street traders – regarded as risk-takers, high achievers, go-getters, and more broadly, as successful people.
They want to answer the straightforward question, “do you really want to be a trader?” by a simple and bold “Hell Yeah!” Such people tend to be so bold that they envisage themselves sharing traits with fictional characters such as Eddie Morra (played by Bradley Cooper) in the 2011 box-office hit Limitless or Gordon Gekko (played by Michael Douglas) in the movie Wall Street.
They see themselves as full-of-life bon viveurs, who wear jeans and a leather jacket. They want to be cool mavericks, who drive fast cars and galivant on exotic vacations via private jet. That YOLO approach that you can make “easy money” by trading anytime anywhere is what attracts novice traders to trading, and specifically FX, given its extended hours and brokers offering mobile trading platforms.
Millennials are by far the most significant demographic in trading given that 43.5% of all traders are between the ages of 25 to 34, according
Dr. Demetrios Zamboglou, COO of BABB
to research conducted by Broker Notes in 2017.
Conceptualizing the above and validating these points through several discussions with professors that have extensive experience in the field of retail trading, I can conclude that humans trade FX because of a handful of reasons.
Their motivation is focused on short-term profits with the ultimate intention of spending their winnings on frivolous pursuits, including vacations and rapidly depreciating cars. Spending habits do, of course, vary from person to person, but the underlying theme is that materialism and the pursuit of luxuries are primary motivations for new traders.
This conclusion was validated by extensive market research done by casinos in recent years, attempting to find way better ways to lure gamblers to their venues and retain their business for as long as possible.
Casinos have discovered that by promoting a particular lifestyle in addition to offering specific technical tools, it is possible to lure gamblers into betting more and more often. The lifestyle that seems to work best (for casinos at least) is the image of living on the edge, akin to a big spender, or flambeur, as the French would say.
Rather strangely, retail traders want to be compared with casino winners. According to anecdotal evidence, retail traders believe that casino winnings are attributable to luck, whereas successful trading is attributed to skill – therefore, there is an inherent expectation that trading talent should be respected and celebrated by others, similar to professional athletes.
Choosing an FX broker
Since my early days working on a dealing desk at one of the world’s largest FX brokers, I despised the word “retail” and all the associations that came with it – a synonym for noise, ignorance, ineffectiveness and someone who just trades to lose.
As a result of the negative connotations, most traders shy away from the retail moniker, although they enjoy thinking of themselves as sophisticated people that operate with top-tier tools in a professional way.
From my talks with a renowned professor at the University of Cambridge, retail traders and institutional traders are two distinct categories and should not be conflated into one.
A word of advice to firms offering trading services, although as a company you can provide services to both, you will need different domain names, websites, products, and different marketing strategies to maximize the returns from these two distinct cohorts.
Branding has always been a key consideration for FX brokers. When it comes to broker brands, influencing, regulation, and safety are the three pillars of success, so there is no need for more unique selling points.
Regulatory approval in Europe, a prominent social media influencer able to influence potential clients and safety of funds – that’s the simple model being followed by swathes of brokers trying to win new business in the FX retail broking space.
The right platform and products for retail traders
It is important for trading apps to remind clients when they’ve succeeded and to demonstrate that other clients are also successful – this creates a powerful psychological effect through validation, even though the majority (around 70%) of traders lose their entire deposit within six months.
From a psychological perspective, the way retail traders perceive their chances of winning and how the market operates is rather interesting. Even in cases where retail traders understand the statistical likelihood of their failure, there often remains a strong belief that their ability to control their emotions and remain disciplined (unlike the 70%) is sufficient to overcome the odds.
This behavioral anomaly leads to a disposition effect, given that people dislike losing significantly more than they enjoy winning. As the renowned German philosopher Arthur Schopenhauer once said, “Pleasure is never as pleasant as we expected it to be and pain is always more painful.”
From a broker’s perspective, it is advantageous to encourage people to commit to larger initial deposits since they are correlated to longer-dated client activity.
Moreover, and in terms of practical logistics, the platform GUI should include appropriate calls to action and allow clients to be onboarded in a frictionless way in terms of KYC, deposit ability, crypto custody, and promoting active trading opportunities.
From a trader’s perspective, the best trading opportunities are most plentiful when markets are volatile. In such cases, brokers have a clear incentive to encourage traders to invest their funds into applicable trading instruments, strategies, or simply, follow other successful traders with the added impetus of brokers promoting the fear of losing out (FOMO) – a tactic that is rapidly becoming the go-to strategy to push up trading volume.
An example of this would be Revolut’s move to enable crypto notifications when cryptocurrency valuations suddenly move up or down.
The trading app needs to be simple but also allow for gradual learning over time. Simple but complex. Good software should not need instruction manuals, it should allow for intuitive self-learning at a pace chosen by the user. However, the app must include the myriad of complex features that even novice traders demand right from the get-go.
Here I can touch on the gamification of a trader from junior, to advanced, to expert, or, alternatively, to suggest VIP services for larger deposit clients that enable 24/7 support, more perks, and access to professional tools. Such steps satisfy clients’ expectations and help to fulfill their dream of emulating Wall Street traders. From the perspective of the average retail client, it’s not simply about performing like a top-tier trader; it’s also important to look like one too, including being surrounded by dozens of flashing lights, multiple clocks, screens and the customary 24-hour financial news channel buzzing in the background.
Gamification should be designed to create brand loyalty and thereby hook traders to a platform. A recent study showed us that if a trader, as a rule of thumb, does 75 trades or trades for 75 days, his LTV is maximized. Although this is not an easy task to do, to keep traders engaged, I suggest introducing sharper incentives and even including random lottery draws. In other words, emulate what casinos are doing to generate more clients who trade more for longer.
I am a firm believer that a trade action should be done in three steps:
(1) capital allocation,
(2) return, and
(3) multiplier/boost (leverage) of returns.
Of course, some extra features can be implemented mid-trade such as stop-losses or timers to close an open trade.
If done correctly, complicated MT4 calculations such as margin requirements and lot size can be incorporated in just three simple steps. The same idea applies to strategies or following other traders.
Trade details such as floating profit/loss, fees and trade history must also be displayed somewhere in the platform but not as the major call to action, including some critical sections on education, capturing three distinct categories such as tradable news, indicators and an economic calendar highlighting which instruments will be affected.
For traditional education, an education website is a necessity. Moreover, the site should be hosted on a separate website supported by a different brand, and not in the platform itself.
I also think trading certificates are an effective tool way to generate brand loyalty from traders, especially novices that tend to rely on external sources for guidance.
In summation, I hope this article will encourage you to re-think existing processes and to consider incorporating quantitative and qualitative models to build tailored platforms for clients. Possibly the most important fact given current trends in financial technology, it is essential to address millennials and how social media can be used to improve outcomes when offering trading services to retail clients.
Demetrios Zamboglou Ph.D. is COO at crypto bank BABB
According to research done by Citigroup in January 2014, 84% of retail FX traders believe they can achieve positive monthly returns. When it comes to the magnitude of those returns, 41% of traders believe they can make more than 10% per month, resulting in a staggering yearly compounded result of 314% return on investment (ROI).
Despite the high expectations, by comparison, retail FX traders expect to underperform outright gamblers who, on average, expect to double or triple their capital each time they visit a casino.
On many occasions, they are willing to trust expert advisors otherwise known as “automated strategies” or “signals,” based on technical analysis and invest their capital, possibly since retail traders believe that future events are based on past outcomes.
The persona of a trader
People who trade FX want to feel like (and be seen as) Wall Street traders – regarded as risk-takers, high achievers, go-getters, and more broadly, as successful people.
They want to answer the straightforward question, “do you really want to be a trader?” by a simple and bold “Hell Yeah!” Such people tend to be so bold that they envisage themselves sharing traits with fictional characters such as Eddie Morra (played by Bradley Cooper) in the 2011 box-office hit Limitless or Gordon Gekko (played by Michael Douglas) in the movie Wall Street.
They see themselves as full-of-life bon viveurs, who wear jeans and a leather jacket. They want to be cool mavericks, who drive fast cars and galivant on exotic vacations via private jet. That YOLO approach that you can make “easy money” by trading anytime anywhere is what attracts novice traders to trading, and specifically FX, given its extended hours and brokers offering mobile trading platforms.
Millennials are by far the most significant demographic in trading given that 43.5% of all traders are between the ages of 25 to 34, according
Dr. Demetrios Zamboglou, COO of BABB
to research conducted by Broker Notes in 2017.
Conceptualizing the above and validating these points through several discussions with professors that have extensive experience in the field of retail trading, I can conclude that humans trade FX because of a handful of reasons.
Their motivation is focused on short-term profits with the ultimate intention of spending their winnings on frivolous pursuits, including vacations and rapidly depreciating cars. Spending habits do, of course, vary from person to person, but the underlying theme is that materialism and the pursuit of luxuries are primary motivations for new traders.
This conclusion was validated by extensive market research done by casinos in recent years, attempting to find way better ways to lure gamblers to their venues and retain their business for as long as possible.
Casinos have discovered that by promoting a particular lifestyle in addition to offering specific technical tools, it is possible to lure gamblers into betting more and more often. The lifestyle that seems to work best (for casinos at least) is the image of living on the edge, akin to a big spender, or flambeur, as the French would say.
Rather strangely, retail traders want to be compared with casino winners. According to anecdotal evidence, retail traders believe that casino winnings are attributable to luck, whereas successful trading is attributed to skill – therefore, there is an inherent expectation that trading talent should be respected and celebrated by others, similar to professional athletes.
Choosing an FX broker
Since my early days working on a dealing desk at one of the world’s largest FX brokers, I despised the word “retail” and all the associations that came with it – a synonym for noise, ignorance, ineffectiveness and someone who just trades to lose.
As a result of the negative connotations, most traders shy away from the retail moniker, although they enjoy thinking of themselves as sophisticated people that operate with top-tier tools in a professional way.
From my talks with a renowned professor at the University of Cambridge, retail traders and institutional traders are two distinct categories and should not be conflated into one.
A word of advice to firms offering trading services, although as a company you can provide services to both, you will need different domain names, websites, products, and different marketing strategies to maximize the returns from these two distinct cohorts.
Branding has always been a key consideration for FX brokers. When it comes to broker brands, influencing, regulation, and safety are the three pillars of success, so there is no need for more unique selling points.
Regulatory approval in Europe, a prominent social media influencer able to influence potential clients and safety of funds – that’s the simple model being followed by swathes of brokers trying to win new business in the FX retail broking space.
The right platform and products for retail traders
It is important for trading apps to remind clients when they’ve succeeded and to demonstrate that other clients are also successful – this creates a powerful psychological effect through validation, even though the majority (around 70%) of traders lose their entire deposit within six months.
From a psychological perspective, the way retail traders perceive their chances of winning and how the market operates is rather interesting. Even in cases where retail traders understand the statistical likelihood of their failure, there often remains a strong belief that their ability to control their emotions and remain disciplined (unlike the 70%) is sufficient to overcome the odds.
This behavioral anomaly leads to a disposition effect, given that people dislike losing significantly more than they enjoy winning. As the renowned German philosopher Arthur Schopenhauer once said, “Pleasure is never as pleasant as we expected it to be and pain is always more painful.”
From a broker’s perspective, it is advantageous to encourage people to commit to larger initial deposits since they are correlated to longer-dated client activity.
Moreover, and in terms of practical logistics, the platform GUI should include appropriate calls to action and allow clients to be onboarded in a frictionless way in terms of KYC, deposit ability, crypto custody, and promoting active trading opportunities.
From a trader’s perspective, the best trading opportunities are most plentiful when markets are volatile. In such cases, brokers have a clear incentive to encourage traders to invest their funds into applicable trading instruments, strategies, or simply, follow other successful traders with the added impetus of brokers promoting the fear of losing out (FOMO) – a tactic that is rapidly becoming the go-to strategy to push up trading volume.
An example of this would be Revolut’s move to enable crypto notifications when cryptocurrency valuations suddenly move up or down.
The trading app needs to be simple but also allow for gradual learning over time. Simple but complex. Good software should not need instruction manuals, it should allow for intuitive self-learning at a pace chosen by the user. However, the app must include the myriad of complex features that even novice traders demand right from the get-go.
Here I can touch on the gamification of a trader from junior, to advanced, to expert, or, alternatively, to suggest VIP services for larger deposit clients that enable 24/7 support, more perks, and access to professional tools. Such steps satisfy clients’ expectations and help to fulfill their dream of emulating Wall Street traders. From the perspective of the average retail client, it’s not simply about performing like a top-tier trader; it’s also important to look like one too, including being surrounded by dozens of flashing lights, multiple clocks, screens and the customary 24-hour financial news channel buzzing in the background.
Gamification should be designed to create brand loyalty and thereby hook traders to a platform. A recent study showed us that if a trader, as a rule of thumb, does 75 trades or trades for 75 days, his LTV is maximized. Although this is not an easy task to do, to keep traders engaged, I suggest introducing sharper incentives and even including random lottery draws. In other words, emulate what casinos are doing to generate more clients who trade more for longer.
I am a firm believer that a trade action should be done in three steps:
(1) capital allocation,
(2) return, and
(3) multiplier/boost (leverage) of returns.
Of course, some extra features can be implemented mid-trade such as stop-losses or timers to close an open trade.
If done correctly, complicated MT4 calculations such as margin requirements and lot size can be incorporated in just three simple steps. The same idea applies to strategies or following other traders.
Trade details such as floating profit/loss, fees and trade history must also be displayed somewhere in the platform but not as the major call to action, including some critical sections on education, capturing three distinct categories such as tradable news, indicators and an economic calendar highlighting which instruments will be affected.
For traditional education, an education website is a necessity. Moreover, the site should be hosted on a separate website supported by a different brand, and not in the platform itself.
I also think trading certificates are an effective tool way to generate brand loyalty from traders, especially novices that tend to rely on external sources for guidance.
In summation, I hope this article will encourage you to re-think existing processes and to consider incorporating quantitative and qualitative models to build tailored platforms for clients. Possibly the most important fact given current trends in financial technology, it is essential to address millennials and how social media can be used to improve outcomes when offering trading services to retail clients.
Demetrios Zamboglou Ph.D. is COO at crypto bank BABB
Demetrios Zamboglou is an online retail trading veteran with almost two decades of experience in financial markets, including as a C-level executive and via his academic research at King’s College London University.
The World Cup, Market Winners and the Underdog Problem
Featured Videos
Buy, Build or Both? Trading Tech for Brokers, Banks & Beyond
Buy, Build or Both? Trading Tech for Brokers, Banks & Beyond
Buy, Build or Both? Trading Tech for Brokers, Banks & Beyond
Buy, Build or Both? Trading Tech for Brokers, Banks & Beyond
For every feature and product, someone has to decide: build it in-house or buy from a vendor. In Singapore and across APAC, local banks and global players face the same question with very different constraints.
This session gathers heads of technology and e-trading to compare how client demand and cost structures shape their choices, and how long it actually takes to ship in each.
Attendees will walk away with:
First-hand view of how client feedback informs decision-making across different market participants.
Understanding pain points and benefits of working with 3rd party integrations at scale.
Insight into products and innovation banks’ retail and trading heads will look for in 2026.
For every feature and product, someone has to decide: build it in-house or buy from a vendor. In Singapore and across APAC, local banks and global players face the same question with very different constraints.
This session gathers heads of technology and e-trading to compare how client demand and cost structures shape their choices, and how long it actually takes to ship in each.
Attendees will walk away with:
First-hand view of how client feedback informs decision-making across different market participants.
Understanding pain points and benefits of working with 3rd party integrations at scale.
Insight into products and innovation banks’ retail and trading heads will look for in 2026.
For every feature and product, someone has to decide: build it in-house or buy from a vendor. In Singapore and across APAC, local banks and global players face the same question with very different constraints.
This session gathers heads of technology and e-trading to compare how client demand and cost structures shape their choices, and how long it actually takes to ship in each.
Attendees will walk away with:
First-hand view of how client feedback informs decision-making across different market participants.
Understanding pain points and benefits of working with 3rd party integrations at scale.
Insight into products and innovation banks’ retail and trading heads will look for in 2026.
For every feature and product, someone has to decide: build it in-house or buy from a vendor. In Singapore and across APAC, local banks and global players face the same question with very different constraints.
This session gathers heads of technology and e-trading to compare how client demand and cost structures shape their choices, and how long it actually takes to ship in each.
Attendees will walk away with:
First-hand view of how client feedback informs decision-making across different market participants.
Understanding pain points and benefits of working with 3rd party integrations at scale.
Insight into products and innovation banks’ retail and trading heads will look for in 2026.
Regulation Roundup: Setup, Compliance, and Hidden Costs of Entry
Regulation Roundup: Setup, Compliance, and Hidden Costs of Entry
Regulation Roundup: Setup, Compliance, and Hidden Costs of Entry
Regulation Roundup: Setup, Compliance, and Hidden Costs of Entry
Regulation Roundup: Setup, Compliance, and Hidden Costs of Entry
Regulation Roundup: Setup, Compliance, and Hidden Costs of Entry
As Singapore's capital-intensive requirements leave only a few retail brokers active in the city-state, there are many opportunities to be made in and around.
This session gathers regulators, advisors, and operators who have set up across multiple APAC jurisdictions to break down figures, what's working, what's breaking, and what's next.
Attendees will walk away with:
Survey of capital thresholds and other requirements across regions in APAC
Nuanced understanding of Singapore's role in the retail trading space
Glimpse into parallel developments in digital assets and RWA
As Singapore's capital-intensive requirements leave only a few retail brokers active in the city-state, there are many opportunities to be made in and around.
This session gathers regulators, advisors, and operators who have set up across multiple APAC jurisdictions to break down figures, what's working, what's breaking, and what's next.
Attendees will walk away with:
Survey of capital thresholds and other requirements across regions in APAC
Nuanced understanding of Singapore's role in the retail trading space
Glimpse into parallel developments in digital assets and RWA
As Singapore's capital-intensive requirements leave only a few retail brokers active in the city-state, there are many opportunities to be made in and around.
This session gathers regulators, advisors, and operators who have set up across multiple APAC jurisdictions to break down figures, what's working, what's breaking, and what's next.
Attendees will walk away with:
Survey of capital thresholds and other requirements across regions in APAC
Nuanced understanding of Singapore's role in the retail trading space
Glimpse into parallel developments in digital assets and RWA
As Singapore's capital-intensive requirements leave only a few retail brokers active in the city-state, there are many opportunities to be made in and around.
This session gathers regulators, advisors, and operators who have set up across multiple APAC jurisdictions to break down figures, what's working, what's breaking, and what's next.
Attendees will walk away with:
Survey of capital thresholds and other requirements across regions in APAC
Nuanced understanding of Singapore's role in the retail trading space
Glimpse into parallel developments in digital assets and RWA
As Singapore's capital-intensive requirements leave only a few retail brokers active in the city-state, there are many opportunities to be made in and around.
This session gathers regulators, advisors, and operators who have set up across multiple APAC jurisdictions to break down figures, what's working, what's breaking, and what's next.
Attendees will walk away with:
Survey of capital thresholds and other requirements across regions in APAC
Nuanced understanding of Singapore's role in the retail trading space
Glimpse into parallel developments in digital assets and RWA
As Singapore's capital-intensive requirements leave only a few retail brokers active in the city-state, there are many opportunities to be made in and around.
This session gathers regulators, advisors, and operators who have set up across multiple APAC jurisdictions to break down figures, what's working, what's breaking, and what's next.
Attendees will walk away with:
Survey of capital thresholds and other requirements across regions in APAC
Nuanced understanding of Singapore's role in the retail trading space
Glimpse into parallel developments in digital assets and RWA
Rails for Growth: 'Payments as Infrastructure' for Financial Superapps
Rails for Growth: 'Payments as Infrastructure' for Financial Superapps
Rails for Growth: 'Payments as Infrastructure' for Financial Superapps
Rails for Growth: 'Payments as Infrastructure' for Financial Superapps
Rails for Growth: 'Payments as Infrastructure' for Financial Superapps
Rails for Growth: 'Payments as Infrastructure' for Financial Superapps
For fintechs who try to capture the retail investment crowd, payments can be a game-changer from user experience to back-office plumbing.
This session brings together builders from across the payment ecosystem to examine how new rails are altering the way capital moves in APAC and beyond.
Attendees will walk away with:
A clear view of how stablecoins, on-chain settlement, and tokenised money are being used in live institutional workflows today
Understanding of what MAS initiatives like Project Orchid and Project Bloom signal for the future of digital money in Singapore's capital markets
Insight into how mobile-first fund platforms and digital distribution channels are pulling payment infrastructure closer to the point of investment
Perspective on the compliance and custody challenges firms face when payments, trading, and settlement converge on the same rails
For fintechs who try to capture the retail investment crowd, payments can be a game-changer from user experience to back-office plumbing.
This session brings together builders from across the payment ecosystem to examine how new rails are altering the way capital moves in APAC and beyond.
Attendees will walk away with:
A clear view of how stablecoins, on-chain settlement, and tokenised money are being used in live institutional workflows today
Understanding of what MAS initiatives like Project Orchid and Project Bloom signal for the future of digital money in Singapore's capital markets
Insight into how mobile-first fund platforms and digital distribution channels are pulling payment infrastructure closer to the point of investment
Perspective on the compliance and custody challenges firms face when payments, trading, and settlement converge on the same rails
For fintechs who try to capture the retail investment crowd, payments can be a game-changer from user experience to back-office plumbing.
This session brings together builders from across the payment ecosystem to examine how new rails are altering the way capital moves in APAC and beyond.
Attendees will walk away with:
A clear view of how stablecoins, on-chain settlement, and tokenised money are being used in live institutional workflows today
Understanding of what MAS initiatives like Project Orchid and Project Bloom signal for the future of digital money in Singapore's capital markets
Insight into how mobile-first fund platforms and digital distribution channels are pulling payment infrastructure closer to the point of investment
Perspective on the compliance and custody challenges firms face when payments, trading, and settlement converge on the same rails
For fintechs who try to capture the retail investment crowd, payments can be a game-changer from user experience to back-office plumbing.
This session brings together builders from across the payment ecosystem to examine how new rails are altering the way capital moves in APAC and beyond.
Attendees will walk away with:
A clear view of how stablecoins, on-chain settlement, and tokenised money are being used in live institutional workflows today
Understanding of what MAS initiatives like Project Orchid and Project Bloom signal for the future of digital money in Singapore's capital markets
Insight into how mobile-first fund platforms and digital distribution channels are pulling payment infrastructure closer to the point of investment
Perspective on the compliance and custody challenges firms face when payments, trading, and settlement converge on the same rails
For fintechs who try to capture the retail investment crowd, payments can be a game-changer from user experience to back-office plumbing.
This session brings together builders from across the payment ecosystem to examine how new rails are altering the way capital moves in APAC and beyond.
Attendees will walk away with:
A clear view of how stablecoins, on-chain settlement, and tokenised money are being used in live institutional workflows today
Understanding of what MAS initiatives like Project Orchid and Project Bloom signal for the future of digital money in Singapore's capital markets
Insight into how mobile-first fund platforms and digital distribution channels are pulling payment infrastructure closer to the point of investment
Perspective on the compliance and custody challenges firms face when payments, trading, and settlement converge on the same rails
For fintechs who try to capture the retail investment crowd, payments can be a game-changer from user experience to back-office plumbing.
This session brings together builders from across the payment ecosystem to examine how new rails are altering the way capital moves in APAC and beyond.
Attendees will walk away with:
A clear view of how stablecoins, on-chain settlement, and tokenised money are being used in live institutional workflows today
Understanding of what MAS initiatives like Project Orchid and Project Bloom signal for the future of digital money in Singapore's capital markets
Insight into how mobile-first fund platforms and digital distribution channels are pulling payment infrastructure closer to the point of investment
Perspective on the compliance and custody challenges firms face when payments, trading, and settlement converge on the same rails
From Rewards to Retention: The 5 Loyalty Program Mistakes Brokers Need To Avoid (Case Study)
From Rewards to Retention: The 5 Loyalty Program Mistakes Brokers Need To Avoid (Case Study)
From Rewards to Retention: The 5 Loyalty Program Mistakes Brokers Need To Avoid (Case Study)
From Rewards to Retention: The 5 Loyalty Program Mistakes Brokers Need To Avoid (Case Study)
From Rewards to Retention: The 5 Loyalty Program Mistakes Brokers Need To Avoid (Case Study)
From Rewards to Retention: The 5 Loyalty Program Mistakes Brokers Need To Avoid (Case Study)
Acquisition is getting more expensive. Most brokers already know that. The harder question is what happens after the client funds the account.
This session looks at how broker loyalty programmes are moving from “nice-to-have rewards” into a serious retention layer inside the client portal.
In this session, Desmond Leong, CEO of Returning.AI, will break down the practical mechanics behind high-performing broker loyalty programmes: what to reward, what not to reward, how onshore and offshore entities need different incentive structures, what belongs in the rewards store, and how brokers can recycle reward budgets back into trading value instead of letting them disappear as pure cost.
The talk will cover common mistakes brokers make when launching loyalty programmes, including copying retail-style rewards, ignoring jurisdictional constraints, over-relying on bonuses, failing to connect rewards to lifecycle stages, and measuring vanity engagement instead of retention, LTV, CAC payback, deposits, and active trading behaviour.
Attendees will leave with a clear do-and-don’t framework they can use to pressure-test their own loyalty strategy.
Why loyalty is no longer a “nice-to-have” marketing feature for brokers
The building blocks of any loyalty program and what they mean: points, tiers, missions, stores, leaderboards, boosters, and cashback-style mechanics
Understanding of how key regulators read loyalty incentives and where the compliance lines are
What should go in the rewards store, and what quietly destroys ROI
How trading credits, rebates, VIP perks, education, and service benefits can recycle value back into the brokerage
The 5 mistakes brokers should avoid when building or buying a loyalty programme
Real figures from a live deployment: what moved in daily activity, tier progression, and trader spend
Acquisition is getting more expensive. Most brokers already know that. The harder question is what happens after the client funds the account.
This session looks at how broker loyalty programmes are moving from “nice-to-have rewards” into a serious retention layer inside the client portal.
In this session, Desmond Leong, CEO of Returning.AI, will break down the practical mechanics behind high-performing broker loyalty programmes: what to reward, what not to reward, how onshore and offshore entities need different incentive structures, what belongs in the rewards store, and how brokers can recycle reward budgets back into trading value instead of letting them disappear as pure cost.
The talk will cover common mistakes brokers make when launching loyalty programmes, including copying retail-style rewards, ignoring jurisdictional constraints, over-relying on bonuses, failing to connect rewards to lifecycle stages, and measuring vanity engagement instead of retention, LTV, CAC payback, deposits, and active trading behaviour.
Attendees will leave with a clear do-and-don’t framework they can use to pressure-test their own loyalty strategy.
Why loyalty is no longer a “nice-to-have” marketing feature for brokers
The building blocks of any loyalty program and what they mean: points, tiers, missions, stores, leaderboards, boosters, and cashback-style mechanics
Understanding of how key regulators read loyalty incentives and where the compliance lines are
What should go in the rewards store, and what quietly destroys ROI
How trading credits, rebates, VIP perks, education, and service benefits can recycle value back into the brokerage
The 5 mistakes brokers should avoid when building or buying a loyalty programme
Real figures from a live deployment: what moved in daily activity, tier progression, and trader spend
Acquisition is getting more expensive. Most brokers already know that. The harder question is what happens after the client funds the account.
This session looks at how broker loyalty programmes are moving from “nice-to-have rewards” into a serious retention layer inside the client portal.
In this session, Desmond Leong, CEO of Returning.AI, will break down the practical mechanics behind high-performing broker loyalty programmes: what to reward, what not to reward, how onshore and offshore entities need different incentive structures, what belongs in the rewards store, and how brokers can recycle reward budgets back into trading value instead of letting them disappear as pure cost.
The talk will cover common mistakes brokers make when launching loyalty programmes, including copying retail-style rewards, ignoring jurisdictional constraints, over-relying on bonuses, failing to connect rewards to lifecycle stages, and measuring vanity engagement instead of retention, LTV, CAC payback, deposits, and active trading behaviour.
Attendees will leave with a clear do-and-don’t framework they can use to pressure-test their own loyalty strategy.
Why loyalty is no longer a “nice-to-have” marketing feature for brokers
The building blocks of any loyalty program and what they mean: points, tiers, missions, stores, leaderboards, boosters, and cashback-style mechanics
Understanding of how key regulators read loyalty incentives and where the compliance lines are
What should go in the rewards store, and what quietly destroys ROI
How trading credits, rebates, VIP perks, education, and service benefits can recycle value back into the brokerage
The 5 mistakes brokers should avoid when building or buying a loyalty programme
Real figures from a live deployment: what moved in daily activity, tier progression, and trader spend
Acquisition is getting more expensive. Most brokers already know that. The harder question is what happens after the client funds the account.
This session looks at how broker loyalty programmes are moving from “nice-to-have rewards” into a serious retention layer inside the client portal.
In this session, Desmond Leong, CEO of Returning.AI, will break down the practical mechanics behind high-performing broker loyalty programmes: what to reward, what not to reward, how onshore and offshore entities need different incentive structures, what belongs in the rewards store, and how brokers can recycle reward budgets back into trading value instead of letting them disappear as pure cost.
The talk will cover common mistakes brokers make when launching loyalty programmes, including copying retail-style rewards, ignoring jurisdictional constraints, over-relying on bonuses, failing to connect rewards to lifecycle stages, and measuring vanity engagement instead of retention, LTV, CAC payback, deposits, and active trading behaviour.
Attendees will leave with a clear do-and-don’t framework they can use to pressure-test their own loyalty strategy.
Why loyalty is no longer a “nice-to-have” marketing feature for brokers
The building blocks of any loyalty program and what they mean: points, tiers, missions, stores, leaderboards, boosters, and cashback-style mechanics
Understanding of how key regulators read loyalty incentives and where the compliance lines are
What should go in the rewards store, and what quietly destroys ROI
How trading credits, rebates, VIP perks, education, and service benefits can recycle value back into the brokerage
The 5 mistakes brokers should avoid when building or buying a loyalty programme
Real figures from a live deployment: what moved in daily activity, tier progression, and trader spend
Acquisition is getting more expensive. Most brokers already know that. The harder question is what happens after the client funds the account.
This session looks at how broker loyalty programmes are moving from “nice-to-have rewards” into a serious retention layer inside the client portal.
In this session, Desmond Leong, CEO of Returning.AI, will break down the practical mechanics behind high-performing broker loyalty programmes: what to reward, what not to reward, how onshore and offshore entities need different incentive structures, what belongs in the rewards store, and how brokers can recycle reward budgets back into trading value instead of letting them disappear as pure cost.
The talk will cover common mistakes brokers make when launching loyalty programmes, including copying retail-style rewards, ignoring jurisdictional constraints, over-relying on bonuses, failing to connect rewards to lifecycle stages, and measuring vanity engagement instead of retention, LTV, CAC payback, deposits, and active trading behaviour.
Attendees will leave with a clear do-and-don’t framework they can use to pressure-test their own loyalty strategy.
Why loyalty is no longer a “nice-to-have” marketing feature for brokers
The building blocks of any loyalty program and what they mean: points, tiers, missions, stores, leaderboards, boosters, and cashback-style mechanics
Understanding of how key regulators read loyalty incentives and where the compliance lines are
What should go in the rewards store, and what quietly destroys ROI
How trading credits, rebates, VIP perks, education, and service benefits can recycle value back into the brokerage
The 5 mistakes brokers should avoid when building or buying a loyalty programme
Real figures from a live deployment: what moved in daily activity, tier progression, and trader spend
Acquisition is getting more expensive. Most brokers already know that. The harder question is what happens after the client funds the account.
This session looks at how broker loyalty programmes are moving from “nice-to-have rewards” into a serious retention layer inside the client portal.
In this session, Desmond Leong, CEO of Returning.AI, will break down the practical mechanics behind high-performing broker loyalty programmes: what to reward, what not to reward, how onshore and offshore entities need different incentive structures, what belongs in the rewards store, and how brokers can recycle reward budgets back into trading value instead of letting them disappear as pure cost.
The talk will cover common mistakes brokers make when launching loyalty programmes, including copying retail-style rewards, ignoring jurisdictional constraints, over-relying on bonuses, failing to connect rewards to lifecycle stages, and measuring vanity engagement instead of retention, LTV, CAC payback, deposits, and active trading behaviour.
Attendees will leave with a clear do-and-don’t framework they can use to pressure-test their own loyalty strategy.
Why loyalty is no longer a “nice-to-have” marketing feature for brokers
The building blocks of any loyalty program and what they mean: points, tiers, missions, stores, leaderboards, boosters, and cashback-style mechanics
Understanding of how key regulators read loyalty incentives and where the compliance lines are
What should go in the rewards store, and what quietly destroys ROI
How trading credits, rebates, VIP perks, education, and service benefits can recycle value back into the brokerage
The 5 mistakes brokers should avoid when building or buying a loyalty programme
Real figures from a live deployment: what moved in daily activity, tier progression, and trader spend
Stablecoins from Experimentation to Implementation
Stablecoins from Experimentation to Implementation
Stablecoins from Experimentation to Implementation
Stablecoins from Experimentation to Implementation
Stablecoins from Experimentation to Implementation
Stablecoins from Experimentation to Implementation
With over $300 billion in stablecoins now in circulation and APAC regulators moving from frameworks to enforcement, the conversation has shifted.
Held in partnership with 8Circle, this session brings together the builders of new payment rails and the institutions putting them to work.
Attendees will walk away with:
A clear view of which stablecoin use cases have cleared proof of concept and are now operating at scale in APAC
Understanding of what the MAS Payment Services Act and Hong Kong's fiat stablecoin licensing regime mean for brokers and payment providers in practice
Insight into the infrastructure gaps firms most commonly underestimate before going live
Perspective on where the next wave of adoption is heading and what existing systems need to accommodate
With over $300 billion in stablecoins now in circulation and APAC regulators moving from frameworks to enforcement, the conversation has shifted.
Held in partnership with 8Circle, this session brings together the builders of new payment rails and the institutions putting them to work.
Attendees will walk away with:
A clear view of which stablecoin use cases have cleared proof of concept and are now operating at scale in APAC
Understanding of what the MAS Payment Services Act and Hong Kong's fiat stablecoin licensing regime mean for brokers and payment providers in practice
Insight into the infrastructure gaps firms most commonly underestimate before going live
Perspective on where the next wave of adoption is heading and what existing systems need to accommodate
With over $300 billion in stablecoins now in circulation and APAC regulators moving from frameworks to enforcement, the conversation has shifted.
Held in partnership with 8Circle, this session brings together the builders of new payment rails and the institutions putting them to work.
Attendees will walk away with:
A clear view of which stablecoin use cases have cleared proof of concept and are now operating at scale in APAC
Understanding of what the MAS Payment Services Act and Hong Kong's fiat stablecoin licensing regime mean for brokers and payment providers in practice
Insight into the infrastructure gaps firms most commonly underestimate before going live
Perspective on where the next wave of adoption is heading and what existing systems need to accommodate
With over $300 billion in stablecoins now in circulation and APAC regulators moving from frameworks to enforcement, the conversation has shifted.
Held in partnership with 8Circle, this session brings together the builders of new payment rails and the institutions putting them to work.
Attendees will walk away with:
A clear view of which stablecoin use cases have cleared proof of concept and are now operating at scale in APAC
Understanding of what the MAS Payment Services Act and Hong Kong's fiat stablecoin licensing regime mean for brokers and payment providers in practice
Insight into the infrastructure gaps firms most commonly underestimate before going live
Perspective on where the next wave of adoption is heading and what existing systems need to accommodate
With over $300 billion in stablecoins now in circulation and APAC regulators moving from frameworks to enforcement, the conversation has shifted.
Held in partnership with 8Circle, this session brings together the builders of new payment rails and the institutions putting them to work.
Attendees will walk away with:
A clear view of which stablecoin use cases have cleared proof of concept and are now operating at scale in APAC
Understanding of what the MAS Payment Services Act and Hong Kong's fiat stablecoin licensing regime mean for brokers and payment providers in practice
Insight into the infrastructure gaps firms most commonly underestimate before going live
Perspective on where the next wave of adoption is heading and what existing systems need to accommodate
With over $300 billion in stablecoins now in circulation and APAC regulators moving from frameworks to enforcement, the conversation has shifted.
Held in partnership with 8Circle, this session brings together the builders of new payment rails and the institutions putting them to work.
Attendees will walk away with:
A clear view of which stablecoin use cases have cleared proof of concept and are now operating at scale in APAC
Understanding of what the MAS Payment Services Act and Hong Kong's fiat stablecoin licensing regime mean for brokers and payment providers in practice
Insight into the infrastructure gaps firms most commonly underestimate before going live
Perspective on where the next wave of adoption is heading and what existing systems need to accommodate
