COVID-19's Impact on the FX Industry: Match-Trade Technologies Sums up 2020

The global pandemic has posed many challenges for the worldwide economy. Many businesses based on personal contact with customers have suffered huge losses due to announced lockdowns, also involving their contractors.

Entrepreneurs had to change the operating model and either transfer their current activities to the Internet or look for another income source. On the other hand, industries based on mail-order sales, courier services, and companies providing solutions to support remote work recorded huge profits.

The Forex industry has also coped very well with the challenges that 2020 set for the global economy. Exceptionally high increases show that the brokerage business can develop even in the conditions of a severe economic crisis.

"This is because the Forex Brokers operate entirely online and therefore are not really affected by lockdown. Especially that by spending more time at home in front of the computer, traders have more time to analyze changes in the financial markets. Add to this the common belief that in times of crisis, it is easier to predict the behavior of markets, and you get the answer to why the number of people interested in trading is constantly growing" said Michał Karczewski, COO at Match-Trade Technologies.

The brokerage industry's actual development is very well illustrated by the results of technology companies providing solutions for Forex Brokers. Match-Trade Technologies, a well-known provider of turnkey White Label solutions and management software for Brokers, decided to analyze the data for 2020 and share its results.

"Our company is continuously developing, and from the beginning, we can boast of a stable increase in revenues; however, 2020 has exceeded our wildest expectations. We achieved 110% higher net income than in the previous year as we signed 52% more clients than in 2019" stated Krzysztof Dankowski CBDO at Match-Trade Technologies.

In 2020 the company focused on developing its own brands and strengthening the position in the forex market. The already well-known, proprietary Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term Match-Trader, turned out to be a huge success as the company managed to acquire 20 FX Brokers with the number of real accounts reaching 7000 in the first year after launch. Such popularity boosted the development of the platform and adding new functionalities.

During the year, the company also released a new version of Client Office 2.0 extended with a dedicated app for traders and IBs (for MT4 / MT5) and an advanced Broker's Analytics tool with a Business Intelligence module. Modern tools and a dedicated offer for startup brokers resulted in a 130% increase in MetaTrader 4/5 White Labels sales.

But not only Match-Trade grew their business. The provider's data shows that Brokers' average turnover using MT4 has tripled, rising from an average of 1.131 billion to almost 3.300 billion.

On the other hand, Brokers who decided to use the MT5 platform increased their turnover fivefold, from an average of 300 million to nearly 1.5 billion.

In 2020, the Match-Trade expanded the offer with the Instant Broker Solution dedicated to new businesses. IBS involves launching a complete Forex Broker (including company registration support, trading platform with Client Office CRM and integrated payment solution, Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term connection, and a professional website to generate leads) within 7 days.

"After analyzing the data of the clients who joined us in 2020, we estimate that the initial investment in starting the FX business returned to them after an average of 4.2 months. It means that the novice Brokers who trusted us and decided to open a business with our comprehensive support started making money in the fifth month of operation" Dankowski explained.

The rapid development of the company, entering new markets, and increasing the number of clients and services provided forced an increase in the number of employees. The team's expansion was a deliberate decision that allowed the company to accelerate the growth on a global level and better adapt technologies to changing trends. "To maintain a high level of service, while setting up new clients and implementing new tools, we have increased our team by 25 new employees (15 IT experts), and we are still recruiting" Karczewski followed.

Thanks to an individual approach to each client and the Match-Trade team's constant support, the company receives many recommendations. Therefore, the company has entered many new partnerships with other technology providers like Devexperts, Skale CRM, Centroid Solutions, and resellers, opening another office in Seoul, South Korea.

"Last year was challenging, but we managed to do everything that we had planned, and some plans even had to be rushed. For that, I'd like to thank our entire team" said Karczewski.

This year the company plans to expand with major FX Brokers and institutional clients in the new year, hence a strategic partnership with Match-Prime, a regulated Liquidity provider.

“Our long-term goal is to be a one-stop provider for Forex Brokers. We aim to become a place where clients can come and get everything they need for their business. We are working on creating a technological environment from which customers will be able to select products and configure them in any way to create a dedicated solution tailored to their own needs"added Dankowski.

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