Paul Belogour is a renowned name on the financial market with experience of running his own businesses and working for international banks.
Today we talk to Mr. Belogour about the world of investment, its current trends, and technology worthy of the brokers’ and investors’ attention.
For those of our readers who don’t know Pavel Belogour, could you sum up your trading and business experience?
My career started with the Bank of Boston. They snatched me fresh out of college. I enjoyed my experience in the department of foreign exchange, but in 2011 I founded CBFX, my first business. We offered retail FX for international investors and caught the attention of IFX Markets and City Index in just a couple of years. Working with City Index, I gained valuable experience and wanted to implement it in a new venture. Now I run BMFN, a network supporting thousands of brokers and individual investors across the globe.
What are the current investment trends new and experienced investors should follow?
Technological advances are changing the face of the planet, and I believe investors should pay attention to modern technology. Besides opening new investment opportunities, technology is what drives innovation in the financial market. Trading software solutions let brokers develop successful strategies and factor in market volatility. If you are among those who want to make it to the field of IT, there are several important aspects that you need to consider. Heading towards aconsulting firmcan help you choose the right market for you with deliberately considering significant factors such as competition, year-round work, resistance to recessions.
Mr. Belogour, do you believe we should expect trading technology breakthroughs soon?
Unfortunately, the financial market is inert and slow to adapt to change due to century-old traditions and overregulation. Over the past decade, there were but a few disruptive solutions that have the potential to change the way we invest. Whenever I attend trading shows, I notice the same technologies, though several teams are working on broker-centric software, including my own.
Let’s talk about UniTrader. What sets it apart from similar platforms other than the name of Paul Belogour attached to it?
While offering the same core features and more, UniTrader was created for market makers. Thousands of brokers across 120 countries rely on our software because we offer customized settings and a user-friendly interface. Using almost two decades of my trading experience, I tried to create a powerful tool for brokers and individual investors that would help them succeed without overwhelming newcomers.
Speaking of inexperienced brokers, is UniTrader suitable for them?
The beauty of UniTrader is in its fully automated workflow. With no support staff, an individual broker can set up a user interface, back office, and even a risk management center. There is no need to hire a team to start investing with UniTrader. There are, of course, features aimed at experienced brokers, such as white labels and custom CRMs. However, the adoption threshold is very low, making our solution perfect for newcomer brokers.
Mr. Belogour, you talk a lot about customizable software solutions. Are they necessary for new brokers?
If you are new in the investment game, there is no need to go all out on trading software. Use what you can afford without breaking the bank. I recommend choosing an off-the-shelf solution that offers automation and great support. Newcomer brokers are bound to have a million questions, and they should be able to get answers from support agents.
Customizable software is the next step once the business is up and running and bringing in substantial revenue. With custom features and interfaces, brokers get the chance to adapt their business to a particular niche and get to the next level of profitability.
Can you share trading advice with our readers? They will want to read a recommendation by Pavel Belogour.
It’s no secret that high volatility is the best time for investment opportunities. Whenever there is a political crisis, economy disturbance, or social unrest, the market is ripe for the taking. However, high volatility can ruin predictions and forecasts, so you need to be sure of your calculations before investing your own money or your clients’. That’s why I recommend new brokers to avoid this strategy at first. They should try their hand during a more stable period, observe the trends and assess the risks before plunging into trading during a crisis.
Do you prefer short-term or long-term investment and what would you recommend for our readers?
That’s a trick question, and the answer depends on the results you want to achieve. For sharp trading and quick returns, currency trading is the obvious choice. It’s a tried-and-true short-term strategy most newcomer brokers enjoy. If you are willing to wait and look for a long-term strategy, focus on shares, mutual funds, and other financial products.
Mr. Belogour, thank you for taking the time to answer our questions and sharing your experience and expertise. We are sure our readers will appreciate your insight into the current investment trends and the technology options available for the newcomer and seasoned brokers alike.
