We recently spoke with Gabriel Podasca, Core Business Developer at BKFX, about low latency trading and what really matters to traders. Read on to hear his thoughts on the main challenges forex brokers face when it comes to reducing latency, and what BKFX is doing to ensure all its clients benefit from fast trade execution.
Low Latency Trading Interview With BKFX
What are your top priorities when it comes to offering a great online trading experience?
Well, compared to others, we consider the trading experience as the total of all interactions of the client with the broker, rather than focusing only on the trading side. We are pushing to have a smooth onboarding with automated KYC verification, fast transfers to and from the broker and finally, we ensure that the trading is executed at the best standards available.
How important do you think low latency is to your clients?
Low latency is one of the core advantages of a broker, together with accessible spreads, no requotes, and no price manipulation.
In your opinion, what are the main challenges that brokers face when trying to reduce latency?
When the brokers are going big and extend their reach worldwide, it’s hard to offer same standards to all clients as some things are not under the control of the broker, like network speed.
Do you find that there are certain countries where reducing latency is more challenging?
Generally, the underdeveloped countries lack the infrastructure to provide fast and reliable internet connection, one of the mandatory requirements for online trading.
How do you ensure the same level of trade execution for all your clients worldwide?
We make sure that the things that are under our control are delivered to all clients regardless of their investment size, one such thing is liquidity and for that we are working with some of the best liquidity providers.
The industry seems to be moving towards 24/7 trading. What are your thoughts on this?
Considering the quotes are coming in the end from the central banks or from stock exchanges that are closed also during the weekend, I think it is just an extra push not needed at the moment. From a personal perspective, I understand the need of weekend trading as some people are too busy to put their best efforts during the week while they also must work and other personal errands. For those people, we propose to try crypto trading or to just use their weekend to learn more on how to maximize trading results while using minimum time in front of the platform.
What are the main challenges for brokers looking to offer low latency trading at the weekend?
At the moment the main issue is the liquidity and reliable quotes over the weekend as the major players are offline at the time. I see it feasible only on crypto at the moment, where the decentralized nature of the asset allows same quality of trading.
Their ultimate goal is to help traders succeed in their online trading by providing the best experience while interacting with BKFX, they do that by investing in the latest technologies to ensure as much automatization as possible in order to lower any waiting time like: documents approval, deposit and withdrawal time etc. Additionally, they are striving to provide the best products in term of trading assets, promotions and overall trading conditions. They might not be the best yet, but they put the interest of their traders in front of their own. To find out more, visit the BKFX website.
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