Forex.ee, a team we can not live without.
Forex.ee entered the international market about a year ago. The broker combines the best trading conditions with integrity of a reliable European license and ten years of experience in the Estonian market.
Today we are proud to present you an interview with Forex.ee Member of the Board and Chief Executive Officer, Vladislav Karpeev.
- Good afternoon, Vladislav. Your company is 10 years old this year, it is a significant achievement for the Forex industry. How have you managed not only to keep the company successful in this completive market, but also to earn an excellent reputation?
- Good afternoon. Firstly, we have proven to be a cohesive team. Secondly, throughout all these years the main value of the company for me personally and for each member of our staff has been treating customers fairly. We have tried to listen to our clients, to their requests, needs and, if possible, we always try to find the best solution in every situation.
- Is Forex different now compared to what it was in 2004? What are the differences, if any?
- The number of companies offering services in this market has increased, and many clients find it difficult to figure out who is really more suitable for them. On the other hand, in order to attract customers a broker needs to apply a lot more energy, resources and imagination. A growing number of modern traders prefer automated trading.
- Today Forex.ee is a European broker with the necessary license to provide its brokerage services. What advantages does trading through a broker with a European registration and regulation give to clients?
- Due to the fact that European regulatory standards are among the most rigorous, Forex.ee customers can be sure they will receive high-quality services and financial obligations to them will be fulfilled fairly and in time.
- "If you are looking for low spreads, then come to Forex.ee», - these are increasingly popular recommendations on various Internet resources that traders give to each other. How does the company manage to offer truly one of the lowest spreads on the Forex market?
- We have attracted a significant number of high-quality liquidity providers andare able to negotiate minimum spreads for our clients. In addition, we strive to charge a reasonably fee per 1 lot, relying just on the income from the total volume, which we have been able to increase all the time. Forex.ee is a Top3 ECN/DMA broker in terms of the narrowest spreads and low commissions on the Forex market. As for the STP accounts, our spreads are also some of the lowest considering no commission is charged. Accounts are connected to an independent service Myfxbook.
- Tell me more about other trading conditions at Forex.ee.
- The type of order execution used at Forex.ee is Market Execution. This means that we can guarantee the trader to execute all transactions in the interbank market, while charging the lowest commission.
We use the most popular platform among traders, MetaTrader. Forex.ee client can choose from 49 currency pairs, and also metals (gold, silver). It is possible to open an account in three currencies, USD, EUR, RUB. Clients can also open accounts in multiple currencies in order to diversify their risks.
Leverage is from 1: 1 to 1: 500, minimum lot size - 0,01 (STP), 0,1 (ECN) . Therefore clients with both small and large initial deposits can trade while managing risk effectively.
More information about the trading conditions for each trading instrument can be found on the company website.
- Vladislav, are there any restrictions on trading? Are hedging and scalping allowed?
- The core principle of Forex.ee is not to have any trade restrictions for traders! This principle applies in practice, so hedging and scalping are allowed. I note that many of our customers are news traders in pursuit of quick profits. In Forex.ee it`s possible to trade during any newsreleases, but clients, especially beginners, should take care,as we have market execution and the quality of performance depends on the liquidity providers.
- You said that all client transactions go to the interbank market, which brings us to another innovative product of yours, the One Click Trading Level 2 Plugin. How is it beneficial for traders?
- One Click Trading Level 2 Plugin helps the trader to earn on Forex faster, and more, because all it takes to open a deal at the best price is one click. It can be rightly regarded as unsurpassed technical achievement for MT4.
Among the main benefits of the plugin is that it:
- Provides high accuracy in order execution
- Increases the speed of order execution,
- Optimizes the market in periods of high volatility.
As for large-volume traders, the plugin allows them to see what volume is available for trading at the best prices. Each company`s client may install and use the plugin for free.
- Does Forex.ee have any privileges for customers with large deposits?
- I must admit, we are interested in attracting customers with large deposits. Therefore we strive to create favorable trading conditions for such customers. For example, the commission for them is notably lower than commission for clients with the minimum deposit. It is also possible to agree on a personal commission discount and individual terms of trade; as head of the company, I also conduct such negotiations from time to time.
- Each week, the company offers market reviews for the upcoming trading week. Is this service in demand among the customers of the company? Where can other traders find Forex.ee analysis?
- We monitor the demand for the services that we offer. As for recommendations that our analytical department makes,we see that an increasing number of traders use them. Updates appear on Saturdays, they can always be found on the company's website, as well as on the specialized Forex.ee forums.
- When choosing a broker many clients are concerned about the safety of their funds. How do you ensure the safety of client funds in your company?
- In our company, client funds are not used in any way, except for client trading. Our liquidity providers have a solid reputation.
- Please share with us your plans for the development of the company in the near future.
- Plans are numerous, some of them quite ambitious, and I am not able to talk about them publicly yet. Clients will be able to enjoy new functionality in the near future. First of all we are trying to make our service more convenient for traders –we are about to introduce Client`s area, as well as to improve the design of the site and its content. We plan to make it happen before the end of this year. The new version of the site will have several languages,and our marketing efforts will be increased accordingly.
- Vladislav, what was your personal way in Forex? What are the difficulties encountered and what helped you overcome them?
-As for my first steps in the Forex market, itall started with my involvement in asset management. Then, my partners and Icreated a dealing center, as it was then called. Initially, we did not have enough funds for a quick development of the company, but thanks to our enthusiasm and faith in the business, and especially thanks to our customers, we have come a long way since then. We have been through several stages of development, and we have come to Forex.ee as you know it now.
-Forex.ee Team is ...Being theteam leader, how would you continue this definition?
- ... a team we cannot live without! (smiles)
