I m writing to you in my capacity as Founder and Chief Executive Officer of Trading Point, the company that operates under the trade name XM.com.
Our corporate history goes back to 2008, when our company founders decided to establish Trading Point of Financial Instruments Ltd with the vision to operate it as a European Union regulated broker. At the time, we clearly identified the prevailing inconsistencies in the forex industry in terms of fairness and professionalism, and we were ready to create solid values that could fill these gaps.
Our corporate business model and principles were clear and straightforward from the very start.
Our Product The execution of client orders is the one and only product that all brokers offer. It is ironic that the majority of brokers, even the big ones, choose to forget about this. From the very beginning we noticed that the execution of most brokers was poor. While most of them advertise low spreads very few allow clients to trade on the prices they quote. Instead, they keep re-quoting or rejecting orders until the client's account vanishes. These practices are both illegal and unacceptable. Every trader deserves the right to get the best available market price - nothing more and nothing less. This is the reason why we decided to adopt a strict no re-quotes, no rejection policy. We are very proud of not having re-quoted or declined a client order so far. We have been the fairest broker in the market and it is our best intention to remain so.
Our Clients and IB's The major strength of our business has always been defined by the way we serve our clients and IB's. We are next to them 24 hours a day, addressing all their problems and requests irrespective of their financial status, nationality and sex. We are smart to know that by serving all clients and IB's in the same professional manner our reputation will grow in every part of the world. Our backoffice, customer support and affiliate departments handle effectively thousands of requests and financial transactions every day. We serve clients in almost every country in the world and every client is assigned to a personal account manager. To be able to serve our clients well we need to understand their cultures and needs. To achieve this our personal account managers reflect the diversity of the communities and cultures in which we operate. Our personalized service approach has put us ahead of our competition and has been the cornerstone of our success.
Our People Trading Point is not just an online forex broker. It is not faceless. It is a big family of real people who work very hard to deliver superior services. Our people are our greatest asset because it is them who serve our clients and generate value to the shareholders. For this reason, we hire, train and motivate the best people in the market. From our people we expect the highest level of professionalism, passion and determination to achieve excellence. We stress teamwork in all departments and we have no room for those who put their personal interests ahead of the interests of our team and our clients. We encourage you to be creative and take initiatives and we ensure you that your progress will always depend upon your performance, ethical standards and dedication to the company.
Our Technology Technology plays a crucial role in providing a fast and reliable trading environment for our clients. For this reason we have chosen Metaquotes as our main technology partner. Both MT4 and Mt5 platforms proved to be superior in terms of reliability and trading functionality. Technology is also critical in optimizing the company's infrastructure, operational efficiency, Systems security and new product development. In order to achieve this we invest heavily in technology and infrastructure. As an online financial company with global reach we attract our clients through the web. We realize that our websites are vital for converting and retaining clients and IB's. For this reason we put great effort in developing and designing state of art websites and interfaces. As we remain focused on the needs of our clients in terms of trading platforms, software applications and trading tools, our IT department works relentlessly to deliver superior results.
Our dedication to comply fully with the laws and regulations Our commitment to business transparency is reflected by the way we operate our financial services in compliance with our regulatory environment. Trading Point is a European Union-regulated broker licensed by the Cyprus Securities and Exchange Commission (CySEC), under registration number 120/10. It is also registered with every regulator in the European Union. As a licensed broker we submit regular reports to our regulators and to our external auditor auditor, KPMG, ensuring high operational standards and financial health. In the financial industry, the most essential requirement is the safety of clients’ funds. This is the reason why we follow strict rules to safeguard clients’ interests. We keep clients’ funds segregated from our company funds, in tier 1 banking institutions and ensure that these cannot be used either by us or by our liquidity providers under any circumstances. We also provide retail clients with additional protection through the Investor Compensation Fund in the case of company insolvency.
Operational Discipline After a decade of rapid growth in the forex industry, it is reasonable to expect some consolidation in the near future. Recently, we witnessed quite a number of companies closing down operations, while others are being taken over by bigger brokers. Competition in this particular industry has been so fierce that we expect that in the end very few companies will be able to operate profitably. Securing our long-term viability and profitability requires a firm focus on the vital elements of expenditure, optimal allocation of human and financial resources, as well as on effective risk management. It is our excellence in managing all these elements that provides us with a competitive edge against our competitors and enables us to keep seeking new opportunities and challenges. This is the reason why Trading Point, very much unlike the forex industry as a whole, continues to break new records month after month.
Innovation Leadership cannot be achieved without creativity and innovation. We pride ourselves not only on adopting the best trading environment in the industry but also on innovating new products and practices. To keep pace with the rapid evolution in electronic trading, it is critical that we continue to innovate and always be a step ahead of our competitors.
Dear Traders, In the statement you just read l tried to share with you the principles and values that govern our company, in the hope that my testimony clearly justifies the business transparency we promise to deliver.