GCEX Targets Broker Risk with XplorRisk Overhaul

The digital prime brokerage, headed by Lars Holst, has unveiled significant improvements to its risk management software XplorRisk. GCEX’s newest upgrade aims to empower brokers with enhanced real-time risk management capabilities, facilitating more informed business decisions. The new features are designed to offer a comprehensive view of net open positions and to allow automated rule customization for various trading products.

GCEX Group offers an array of services, including deep liquidity in FX and CFDs on digital assets, spot trading, and conversion of digital assets. The company is headquartered in London and has a global presence with multiple offices worldwide. It is regulated by the UK's Financial Conduct Authority (FCA), registered in Denmark as a Virtual Asset Service Provider (VASP), and has received a license from the Dubai Virtual Assets Regulatory Authority (VARA).

GCEX Enhances Risk Management Product

The latest enhancements to XplorRisk provide GCEX's brokerage clients with a more streamlined approach to monitoring and managing risk. Brokers can now set up automated rules tailored to specific currencies or trading products, such as FX spot, metals and cryptos. These rules can be customized based on client profiles, currency types, or even specific times of the day, offering brokers full flexibility in risk management.

XplorRisk is not just a standalone product. It is an integral part of GCEX's broader trading ecosystem, integrated with XplorTrader, GCEX's margin-based CFDs and FX platform. XplorRisk is a component of XplorDigital, GCEX's suite of crypto-native solutions. XplorDigital encompasses a range of technology-agnostic platforms, including “Crypto in a Box” and “Broker in a Box”, covering various aspects like regulation, custody solutions, and liquidity.

Lars Holst, the Founder and CEO of GCEX, emphasized that the new features in XplorRisk are designed to give clients a comprehensive view of their risk exposure.

“With XplorRisk, our clients – whether trading FX or digital assets – now have greater control over risk management, with a complete overview of their exposure and the ability to set up automated controls to mitigate risk,” commented Holst.

Additional FSA License and Yearly Results

In May, GCEX secured additional regulatory permissions from the Danish Financial Supervisory Authority (FSA) to function as an investment firm. This new authorization enables the firm to provide rolling Spot FX and CFDs to institutional customers within the European Union.

“Obtaining this FSA license involved an extremely stringent process in which we had to demonstrate our experience in financial services, the knowledge of our team, good governance, and our strong focus on investor protection. It now opens the door for us to market to EU clients, presenting us with a major opportunity for further growth,” said Holst.

Before this development, GCEX disclosed its 2022 financial results, revealing a surge of 136% in its yearly revenue to £4.5 million. The company also concluded the year with a net income of £1.5 million.