For our latest industry interview, we spoke with Kent Riboe, CEO at MT Proxy. He shared his thoughts on what the company aims to achieve this year, and the changes we will see in the forex industry. Here is the interview.
What have been the company’s biggest achievements this year?
I must say 2021 has been a successful and more importantly, very fun year. It brought many interesting partnerships, as well as a larger part of the Australian market share, which we’re grateful for. We improved our service by provisioning servers faster AND reducing our response rates. We helped clients expand their trading infrastructure and protect their businesses against network threats. We also further decreased latency to some of the main MT4/MT5 hosting providers such as Beeks, OneZero, Fortex, Tools for Brokers, and Centroid Solutions. We thus further sped up trading for clients of brokers hosted there.
What has the company got planned for 2022?
In 2022, we are planning to announce a new partnership, with a true legend in the markets. They’ll be one of our core partners, together with our hosting and bridge partners. On top of that, we’re updating our reporting systems. Our new reports will help our clients to identify which traders are using outdated trading platforms and reach out to them about changing platforms. This will enable our clients to offer a better service and proactively manage connectivity issues – and this is something we believe will give our brokers a true competitive edge in the industry.
How has the industry changed this year?
More brokers have started offering 24/7 trading in the crypto space, and weekend trading in the FX space. This means less time for service windows and greater need for uptime. This has also led many brokers to realise that it’s better to outsource certain things, such as risk management and hosting, so that they can use their own time for more important things. More brokers have also started offering better trading conditions. Some brokers are staying ahead of the competition, by embracing the clients’ needs, and offering even faster trading. Others are also working hard to catch up. We believe this trend will continue for many years to come, and that more brokers will work on offering better, faster trading.
What are the main challenges brokers will face next year?
Traders now expect a better service. That means brokers will need to ensure they offer a fast, stable trading environment as well as a wide range of trading instruments. It also means that brokers will need to ensure they can offer the same excellent service to all traders worldwide. From our side, we’re seeing an overall increase in global traffic. We’re also seeing firsthand how traffic is increasing in previously untapped markets. For example, it’s very interesting to see more traffic coming from South American markets, and we’re excited to see what happens in those regions in 2022.
Traders now also expect much better connectivity. As global traffic grows, more and more traders will want a mobile-first setup. As such, brokers will need to handle connections from traders on the move. Finally, traders expect high levels of security. In late 2021, many brokers and hosting providers experienced security threats and DDoS attacks. In 2022, we believe more brokers will focus on improving their security and overall stability. This will enable them to attract more clients, offer better services, and protect their financial interests. It will also enable them to protect their companies against major losses in terms of both business and reputation.
How will MT Proxy help brokers solve these challenges?
We already handle 100s of thousands of connections via our proxy network. We have helped our connected brokers to speed up trading for mobile users, webtraders and traditional trading terminals around the globe. We have helped them to increase their reach and boost their connectivity in more remote regions. We have also helped brokers to identify harmful traffic, improve their network security, and prevent future security threats. And this is what we will continue to focus on – helping brokers to help their traders.
Why, in your opinion, is MT Proxy still the go-to low latency solution in the market?
Because we care about the broker AND the brokers’ clients. Also, our solution is really #NoDrama. It’s just an install-and-forget style setup. We can get brokers set up on our free trial in just a few minutes, and they will see the benefits immediately. It really is that simple to try us out. For more information about our services, sign up for our free trial.