In the saturated market of retail forex, it is not enough to offer a good service. Brokers need to maintain originality to provide the best service possible. World Finance speaks to Vladimir Syrov, Director for Business Development at Instaforex.
Through the creation of its PAMM system – which allowed traders to manage not just their own funds, but joint capital as well – InstaForex managed to position itself within the forex industry in 2009, back when retail forex was still an emerging market. “We were among pioneers,” says Vladimir Syrov, Director for Business Development of Instaforex. “It was a case of whatever innovation we brought, we would increase the customers’ base significantly because we were among the first to understand the potential of retail forex, especially in Asia.” Instaforex facilitates exactly what its name implies: instant forex trading. The PAMM system permits the transfer of funds under the company’s control to entitle an investor to share in a trader account proportionate to their investment.
Efficient online management means that all users are provided with control and report on all operations, shares and returns automatically. But it is all very well and good to be considered innovators when the market is still fresh. Unfortunately, this is not the case anymore. Four years on and a very different landscape presents itself. The market density is close to 100 percent, representing a major paradigm shift in the way in which retail forex operates.