Tapaas experience at this year’s iFXEXPO that took place in Limassol was very different to the previous years. Our team is growing, and so is our exposure in the market. For this year, we wanted to share our insights and also get incredibly valuable feedback that will help us decide on what our next developments would be. So, we hired a booth at this year’s Conference, and looking back a week after, we think it was the best decision we could make.
Our CEO, David Hall travelled all the way from Sydney to be there, as he always does for the past four years. Together with the Cyprus team, Andria Orphanidou (Customer Success Manager) and Cagan Cerkez (Operations & Support Specialist), raised the following question to the FX Brokers:
“Is Risk your Bitch?”
Insightful and definitely worth asking. People who dared to answer the question or elaborate on the matter, have definitely taken the chance to look at risk from a different perspective. Exactly from where we as Tapaas see it.
We all know, in financial markets, increased risk increases the opportunity to profit. But Risk is also dangerous. It can make you lose money. Our philosophy at Tapaas is, Risk is an opportunity when it is tamed. This is exactly what we have been having in mind during the last two years, where we managed to build a powerful toolset that enables brokers to “tame” their risk. Whether it has to do with regulatory requirements, such as Best Execution and Slippage, or client profiling and copy trading analytics, this motto has driven our vision. If the Dealing Desk knows their exact exposure at any given time and is able to apply different strategies by monitoring client behaviour through dashboards and alerts, then we can say that Risk is controlled. Controlled Risk is definitely a valuable “asset” for each broker. Brokers are usually very busy to pay attention at the good or harm that risk might do for their businesses. But having someone else do it for them is the less risky solution they can implement.
By end of day two and the closing of the Conference, we had mixed feelings. We had a great time and did not want it to end, but on the other hand we knew that we did mark our presence by making brokers wonder whether risk is really their bitch. As our primary aim was to help them understand that Risk might not be their bitch now, but if they take some action, it will, we wanted them to keep asking themselves the exact question, until they find an answer to it. That’s why we gave out free t-shirts, knowing that they will be well worn.
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