In this article, the UTIP Technologies Ltd. experts give an overview of all the possible integrations in the Utip Office products under way to streamline brokerage workflows.

Plugins for communicating with the trader

The UTIP CRM stands for integrating plugins for popular email newsletter services: MailChimp and UniSender; as well as for Voiso and Commpeak IP Telephony services and others.

The newsletter plugin enables customer segmentation into mailing groups to send emails. The broker is able to create and format emails, make templates, view analytical data on the emails seen, clicked links and much more.

The telephony plugin provides the option of calling clients from the UTIP CRM system pages, e.g. directly from the client’s card.

Contact information

 

To keep client contact data secure, it is possible to limit access to the phone number. In this case, there is still an opportunity to make calls.

Contact call

 

Full call history, including date and time of the call, its duration and status are displayed in the client’s card.

There is also an option to replay the call record, if needed.

Report on calls is designed for the employees who monitor the process.

Report on calls

Commpeak dialer

The UTIP CRM stands for integrating with dialers that enable automated calls to clients to be set up. This feature reduces the number of operations performed by employees and shortens the time from getting leads to making a deposit.

What you need to get started with a telephony is to connect it along with the functions supported.

Telegram integration

The UTIP CRM supports the integration with Telegram.

The broker’s employees can get reports on deposits directly in the messenger chat thereby speeding up the processes of making managerial solutions.

Lead generation features

To expand the broker’s client base, the UTIP CRM functionality serves to add clients through a variety of API-functioning sources from lead generators.

Leads can be uploaded directly into the UTIP CRM, or traders can be registered via landing pages or other lead sources provided by the lead generator.

Accordingly, automated lead generation reduces the time spent on processing leads by sales and marketing staff and saves resources for customer base processing by further increasing sales.

To interact with lead generators, the system has event tracking functionality. For example, the option of editing customer data by a manager or the option of making a deposit.

We offer an open API that allows the broker to integrate with new partners and thereby broaden opportunities and enhance efficiency without drastic changes in business processes. If you have any questions on the UTIP CRM integrations, feel free to contact the UTIP managers.

In the present article the UTIP Technologies Ltd. experts shed light on payment solutions and their core features.

Payment systems in UTIP Platform

 

Searching for the right payment solution is time intensive, and our clients can’t always have the time for it. The UTIP pleased to help you with the choice of a payment system, its integration on our platform, compliance and so on. The UTIP gathers 40 integrated payment solution providers and about 50 payment solution integration services.

Types of payment solutions

The list of payment solutions:

• Acquiring: acceptance by Visa/MC/AmEx cards, etc.
• Crypto acquiring: cryptocurrency purchase made by traders with credit card or other methods.
• Crypto processing: crypto transfer from a trader’s account to a broker’s account.
• Local methods that are available in a particular region.
• E-wallets.
• Bank transfers.

Types of payment solution providers

Payment solution providers can be divided into several groups:

Payment systems (PS) are gateway owner-companies that have the funds transferred from traders to a broker. A shorthand name for payment service provider is PSP.

Payment aggregators (PA) are providers of several methods for accepting payments: for example, by cards, crypto, e-wallets. Plus, payment systems, gateways or banks can be integrated into the payment aggregators. PSP is alternatively used as a shorthand name for payment solution providers.

Payment solutions (PS). No own gateway, but have available multiple options. They act as mediators between brokers and other PSPs.

Cashier Services are non-payment service providers that integrate a variety of payment solutions within their system.

The advantages of using a PSP

Vast geography of payment transactions including ample of countries. Some PSPs pitch the idea of anonymous cryptocurrency transactions. Others use more traditional fiat payments or a combination of fiat and crypto currencies. Cashier services ensure brokers with the recent additional tools as smart routing*, MID** and cascading***.

*Routing is an extensive list of payment channels depending on the credit card issuing country.

**Mid is a share-based payment transaction throughput different PSP.

**Cascading is a transfer to another PSP after the previous transaction has been declined.

Some payment systems are tailored to QR code and mobile payments, P2P and other local methods.

PSP regulations

Each PSP has its own set of documents for compliance required from the broker’s side. The first are willing to work with individuals without a registered legal entity, the second are requesting for a license, the third are willing to work only with a full legal component. The UTIP experts are pleased to assist you in choosing PS by meeting the forex brokers’ demands.

Technical details

UTIP Technologies Ltd. provides brokers with our open back office API which they reroute to new PSPs for further integration with us. The integration is not that sophisticated for the PSPs. Above all, there is a PSP without API-integration.

Please feel free to contact UTIP sales managers with any questions on payment systems. We are open to your requests and feedbacks.

“By creating new projects based on the UTIP Technologies Ltd. products, brokers can significantly reduce their risks”

MetaQuotes suspended issuing White Label licenses for its products in October 2022. So, entering Forex trading has become more difficult for new businesses. An urgent need to find technological alternatives for service provision has emerged in the Forex industry. This case confirms that the industry is particularly vulnerable to risks, while unexpected shifts in legal and technological fields might bring serious changes to brokers’ plans.

The article deals with the ways of reducing risks for brokers, along with alternatives to MetaQuotes already existing in the market.

Using diversification to reduce risks

License and WL vendors benefit from having multiple options to sell coming from different providers. For instance, if one company suspends selling licenses or WLs, a vendor will be able to prevent potential losses by offering other platforms.

Brokers might use various platforms to create a reliable technological base. This allows businesses to be more flexible, while lowering risks in order to avoid situations with revenue losses.

When a broker uses a single platform, there is a risk of losing some traders in case of technological or legal difficulties on their provider’s side. If a broker uses at least two platforms, it is possible to move clients to the alternative platform when having temporary issues with the first one. These shifts can be done on a permanent or temporary basis.

The problem of MT4/MT5 mobile applications being deleted from the App Store can be solved with the UTIP solutions. This topic has already been touched in the previous article.

Easy and efficient alternative to White Label

The UTIP offers to buy a license to use the company’s products. Full terminal branding is also provided.

Benefits of having the UTIP license are the following:

• There is no commission per lot, and the company doesn’t exercise control over brokers’ trades. Only a fixed amount is taken.
• The UTIP presents loyal KYC requirements to potential customers.
• A person may turn into a full-fledged broker in 48 hours. The issue of transferring clients is our responsibility.

If you are interested in the UTIP platform, you can find more detailed information on the UTIP website.

The majority of banks and trading platforms own apps and online services for correlating to the company’s products. Each company is interested in their trading platform having a low entry threshold to start trading on live accounts. But using 2-3 apps is hardly convenient for users to perform various actions: to trade, to manage accounts and make financial analytics.

The UTIP Mobile is all-in-one app

The UTIP Mobile allows users to skip switching to the third-party services and downloading apps for registering, creating trading accounts, depositing and analyzing market situation. All the functions required for completing trading strategies are available in the UTIP Mobile. Suffice to select the preferred depositing method, the payment system, specify the credentials and wait for funds to be credited. Depositing without delays.

Payment systems in the UTIP Mobile

The UTIP Technologies Ltd. meets the brokers’ demands thereby offering multiple payment systems: BetaTransfer, PayPort, alikassa and many others including crypto wallets. The possibility of setting up own payment method. The UTIP Technologies assists clients in adjusting all the required parameters and clarifies the nuances of payment systems functionality.

Trading and analytics in the UTIP Mobile

Trading. A stable quotes’ feed and instant server-side reaction insures traders against mistakes when making trading operations.

Analytics. Technical analysis tools on the chart and analytics sections aim to build your own smart trading strategy. The “Trading forecasts” section is designed for traders to share their ideas and discuss current market perspectives. The “Economic calendar” gives up-to-date information about upcoming economic events.

To sum up, the UTIP Mobile is a full-fledged service which includes trading, funds transactions, instruments for technical and fundamental analysis. For more information, feel free to contact our managers.

There are three most common payment methods offered to brokers:

Payment systems. These are companies that have their own gateway to accept payments. In our case — from traders to a broker.

Payment aggregators. These are companies that can provide several payment methods: for example, cards, crypts, e-wallets, etc. Or several payment systems are integrated into the payment aggregator. Sometimes the payment system and the payment aggregator mean the same, at least from the standpoint of using them as a term.

Cashiers. Cashiers represent companies that are non-payment services providers, but they integrate various payment solutions within their system. In brief, the essence of cashiers is to boost the percentage of successful payments made by clients. We will give a more detailed information about them in the present article.

Cashier functions for brokers

Cascading option. This is the processing of failed transactions, increasing the conversion of successful payments. If the transaction gets failed on channel A, it is transferred to the channel B, C and so on. For example, a trader made a card payment, but the first payment system rejected it Cashier automatically transfers the payment to the next payment system and so on until the payment passes.

Routing. Transactions are automatically distributed between channels based the payment parameters. A trader enters card credentials, the payment is transferred to the gateway that is most likely accepts it. For example, RUB transfers to channel A, USD — to channel B. Either Europe — on channel C, Russia — on channel A.

Cascading and routing rules can be configured simultaneously. As an example, if a broker has 3 RUB channels and 3 USD channels, the use cases can be described as follows: the system first distributes requests between A and B channels depending on the currency and then transactions are cascaded between multiple channels.

Balancing. MID configuration. For example, 50% by 50% or 25% by 75%, etc. If the broker has agreed upon working with a payment solution for a certain turnover, or aims to diversify turnover between several equivalent channels. Balancing is a part of routing.

As for the UTIP platform, we ensure more than 40 payment solutions including payment systems, payment aggregators and cashiers. For more information, feel free to contact our managers.

UTIP Specialists told about lead generation for brokers, types of partnerships and partnership opportunities.

Primarily, UTIP Technologies Ltd. is a software provider for financial markets. However, thanks to constant expanding of partnership network we have an opportunity to help our brokers get acquainted with new solutions on a lead generation market.

A few months ago, we have engaged on this task very thoroughly and for the convenience of our clients we have started releasing a lead generation digest on a regular basis. Now there are more than 15 partners represented.

Types of partners

Lead generation companies/affiliate networks/affiliates. Those who provide traffic (for brokers). Some of them generate leads on their own, meanwhile the others buy traffic and then resell it to brokers.

Full–cycle companies/agencies. Those who either help with lead generation, and in addition to this, they can also assist with the promotion of your Forex company (brand) using, for example, such a tool as SERM*. Or there are those who provide traffic not as a separate service, but through a more complex approach, using tools like Outreach**, SEO***, etc.

There are also companies that provide their software (platform) for both brokers and lead generation companies to simplify the search for traffic and further work with it. Integration with one such company is currently underway and further in our digest you are going to find out a little more about it.

Partners opportunities

The geography of providing leads for brokers is extensive. Some of them could help with live traffic, the others – with hot, warm and cold. There are partners who work on the CPA model, and those who work on the CPL model. There are also who work on both models. The type of payment is pre-payment or post-payment, but it also depends on the terms and agreements with the partner.

Technical part

We have an open back-office API that brokers can provide to new partners for integration with us. The integration process is quite simple for them.

If the lead generation issue is relevant to you, we are ready to assist you, also to keep you updated on this or the other subject matters and use all the possibilities of our services and our partners. Find out more information on the UTIP website.

 

* SERM (search engine reputation management) – online brand reputation management.

** Outreach – online business promotion.

*** SEO – search engine optimization.

According to experts, trading robots support more than half of all forex trading deals for a present moment. The number of traders who come up with the idea of developing their own strategies for trading robots is growing.

The development of technologies entails an increase in the number of trading robots. So, traders are mostly questioning if the broker offers a trading platform with a built-in algorithmic trading. Brokers without algotrading simply miss the chance to gain lots of prospective clients.

In June 2022, the UTIP Technologies Ltd presented its solution which made it possible to trade using robots. Below we will go over the features and advantages of the solution.

Features of the UTIP Algotrading Solution

A trading robot development framework has been integrated in the Objective-C, a main programming language, for traders-devs.

Why C#:

• a simple, reliable and scalable programming language;
• a huge developer community;
• multifunctional libraries.

Аlgotrading advantages for brokers

1. It is getting easier to attract new traders and further boost deposits.
2. Increase in trading volumes by automating trading strategies entails surge in the broker profit by means of spreads and commissions.
3. The ability to create your own robots and offer them to traders.

Algotrading advantages for traders

Speed. The trading robot is able to simultaneously monitor the dynamics of all financial instruments traded on the exchange. It performs the most complex calculations, makes decisions and trading deals without delay.

Data analytics accuracy and submission of requests. Unlike a human, a robot is unable to mix the buttons up, make a mistake when entering a request.

Operational continuity. Trading session lasts up several hours. So, a trader just gets frazzled being on the computer all this time. If a trader leaves the computer unattended, they may miss an important trading signal. A robot is ready to work for 24 hours. Needless to say, a trader should manage the robot and optimize the trading algorithm. But there is no need to be on the computer all day long.

Without emotional bias. This is one of the main advantages of algorithmic trading as a trader will follow the trading strategy.

The UTIP Algotrading is actively developing. In the future, we plan to embed more new features and make algorithmic trading as easy-handled as possible.

The UTIP Technologies experts described all banking solutions that are suitable for both offshore unlicensed brokers and licensed businesses.

Offshore brokers performing under non-regulated jurisdictions are often limited during the operations with bank accounts. Several banks, as well as banking solution providers, are unwilling or unable to cooperate with island companies from the high-risk segment, particularly without a license.

That’s where the UTIP Technologies comes into play, providing a wide partner network with more than 15 banking solutions. So, a range of accounts opened includes countries like Hungary, Latvia and Great Britain, along with Thailand, Vietnam and Singapore. Our major partnership is also present in Western Sahara!

Read on to learn about banking solutions’ types delivered by our partners, along with requirements applied to brokers.

Banking solutions and invoicing terms

Based on the partner’s capabilities, a broker may receive one, two, or all three account types at once: C2B, B2C, B2B. As for accepting payments, there are both international solutions, including SWIFT, SEPA, and local ones — Interac (Canada). To better understand the account terms, let’s turn to several cases.

Note: invoice value and working conditions listed below may differ from the actual ones on the date this article is published. Contact the UTIP specialist to get more relevant data.

Asia. Accounts in Thailand and Vietnam receive B2B, C2B, B2C funds via SEPA and SWIFT. This would require a paying agent firm, or legal entity in Europe, where the bank account is opened. Notable as well is the fact that the bank should be aware of the broker’s business. Paying agent’s registration fee, in turn, would be included in the cost of opening a bank account, amounting to 7,000-12,000 EUR. It depends on the country where the banking office is located. Statutory documents are needed for each company, both offshore and paying agents, along with the directors’ ones, in order to open the account.

Europe. In addition to physical bank accounts, our partners can also offer accounts in EMIs (Electronic Money Institutions): for instance, from Latvia, or the UK. The EMI is a licensed banking organization engaged in transferring and storing electronic money. Thus, transactions would be strictly B2B. Turnover of 50,000 USD and more is required. The following documents are needed: Certificate of Incorporation, Share Certificate, passport, utility bill (UB), and in some cases Legal Opinion. So, the cost of registration starts from 1 000 to 2 000 EUR.

As a European option, there are accounts in the Estonian bank. The operation scheme is C2B, B2B, B2C. Notably, the bank has to be aware of the broker’s forex business. A separate payment agent is not required, but desirable. Minimum deposit — 100 EUR. Maximum limit — 9 000 EUR, and it can also be raised. Certificate of Incorporation, Share Certificate, passport, UB are needed. The cost starts from 3,000 EUR.

Singapore. Unlike European options, the operation scheme is more extended — C2B, B2B, B2C. The bank should be informed about the broker’s forex business. No separate paying agent is required. In addition to standard documents (Certificate of Incorporation, Share Certificate), Legal Opinion and a high-quality website, in some cases, are needed. The cost starts from 2,000 EUR.

Western Sahara. A bank account, there, may operate under a C2B, B2B, B2C basis. The bank has to be aware of the broker’s business, while a separate paying agent isn’t required. Documentation includes a Certificate of Incorporation, Share Certificate, Passport, UB and, in particular, a document that must be ordered separately — Certificate of Good Standing. Deposit fee is 0.2%, minimum transaction size — 20 EUR, maximum — not present. The commission for withdrawal is 0.15%, its minimum amount — 15 EUR, maximum — also not present. The cost of registration starts from 2 500 EUR, plus the annual service fee of 2 500 EUR.

Bahrain. The scheme is C2B, B2B, B2C. The bank should be informed about the broker’s forex business. No separate paying agent is required. Commission on deposit — 6.5% + 25 USD. Minimum transaction size — 1 000 USD, maximum — not present. Countries that accept payments include the ones from the Gulf Cooperation Council (GCC), Latin America, Europe and Asia. The following documents are needed: Certificate of Incorporation, Share Certificate, passport, UB. The cost starts from 2 000 EUR.

The above-mentioned options are only a part of banking solutions available for brokers. We expand our affiliate network on a monthly basis and monitor all market updates, receiving more tangible experiences. In case the presented options caught your interest, or you would like to hear about other offers and propose new solutions, please contact us for more detailed information.

Finance Magnates continues to post up the best alternatives to remote MT4 and MT5

The UTIP Technologies Platform is considered the most stable and reliable option in the market.

The UTIP Technologies has been operating as a forex platform provider since 2006. Over the past years, the company assisted thousands of brokers worldwide in launching their businesses.

The UTIP platform is an off-the-shelf software package for business engineering in the foreign exchange market. It is based on a set of server applications that contains an embedded order execution system and protects data from unauthorized access. The platform is accompanied by a high-quality quotes’ feed from trusted companies and news agencies. All types of modern trading terminals are available to customers.

Features of the UTIP Platform

Mobile App. The product operates on Android and iOS smartphones and tablets. So, the app is constantly available on the App Store and Google Play. There is also a web-version enabling terminal usage from any device via a browser.

Mobile app branding. The UTIP Technology helps clients build their brands by providing a custom version of the “UTIP My Trading”, i.e. a mobile trading terminal. The UTIP team develops a full brand package according to the client’s demands, assists with AppStore and Google Play placement, along with solving formalities. A broker is able to focus on customer service. Regular updates, application support and technical issues are handled by the UTIP.

Over 10,000 trading tools. The app supports currency pairs, stocks, commodities, cryptocurrencies and other assets.

Mobile terminal payments. The trader doesn’t need to spend time going to the personal account. There is an opportunity to replenish it in the mobile terminal.

From terminal to trader’s room in 1 click. Switching from the web terminal to the trader’s room and back is possible without additional authentication.

UTIP offers more than just a trading platform

The UTIP Office is a project that creates complementary solutions for brokers. These include the UTIP CRM, i.e. a web-based application providing managers of a brokerage company with a complete toolkit for customer experience. The UTIP CRM automatically records client registrations and actions on the website and in the trading terminal. This system is directly linked to the UTIP Trader’s Room and incorporated with the UTIP platform. Therefore, the Pro Investor trust management service, the UTIP Trader’s Room and the UTIP Algotrading, acting as a trading automation service, are also worth seeing.

The UTIP has a multi-faceted collaboration network. The company provides its customers with leads, along with payment, banking and cashier solutions.

The UTIP offers a set of services, enabling one to start a brokerage business from scratch. Its products can also be used to improve the existing technological infrastructure.

If you are interested in the UTIP platform, you can find more detailed information on the UTIP website.

The popularity of cryptocurrency is rapidly growing in many countries. This may be treated differently. Some see cryptocurrency as a new reality in terms of payments. Others just want to make money on this. Some are convinced that cryptocurrency popularity is a temporary phenomenon.

In any case, the use of cryptocurrency as a means of payment is getting more relevant, and Forex doesn’t remain on the sidelines. In this article, we will talk about the benefits of cryptocurrency payments.

Benefits of paying with cryptocurrency

Rationality. It might be a difficult task to get provided with card processing for an unregulated Forex project in Russia, Ukraine, and Europe. But the acceptance of payments in cryptocurrency solves this issue, even if you don’t have a license. For certain payment solutions, even having a company is not required.

Security. If you receive payments in traditional currencies made through a payment system or a P2P service, there’s a possibility to face one of the following problems:

• canceling transaction due to various reasons;
• having chargebacks;
• checking transactions by a regulator and freezing funds during said checks;
• blocking accounts or cards.

 

The situation is different with the acceptance of payments in cryptocurrency. Transactions that are made in blockchain are irreversible, so no chargeback is possible. Moreover, neither a regulator nor an international payment system nor an acquiring bank can affect blocking transactions or freezing funds, as those participants aren’t presented in the chain. Still, it’s necessary to remember about secure storage of your crypto wallets’ passwords, as in case they’re lost, there is no way to regain access to the wallets.

Speed. An operation in blockchain doesn’t last longer than several minutes. You can use a payment immediately after receiving; or a transaction may be settled on the same day, if you work through any kind of payment system. In some cases, it may take several days.

If card processing is involved, funds’ receiving process is also carried out quickly. But firstly you get money on a merchant account in the payment system, and it’s possible to transfer these funds within a time period specified in the contract with the payment system. Such a period may last from several days to a month. Thus, you will be able to have money at your disposal after that time period.

Convenience. Traders don’t have to buy cryptocurrency using third-party services to deposit funds on their trading accounts. Most modern payment solutions suggest this process to be carried out through one service, resembling an online payment from a bank card. Moreover, due to the features of certain payment systems, no information on cryptocurrency purchases is displayed.

Accepting cryptocurrency on the UTIP platform

Specialists from the developer company of the UTIP trading platform are actively monitoring the current situation on the market of payment acceptance, adjusting to the modern realities of high-risk working. There are 15 payment solutions integrated into the UTIP platform, which allow working with cryptocurrency.

Demand for such solutions is growing, so it’s no surprise that several more payment systems integrated into the UTIP platform are about to start working with cryptocurrencies.

To connect a cryptocurrency payment solution, please contact the UTIP Sales department.

Besides payment solutions, the UTIP company develops its own software for Forex and crypto brokers, assists in registration of companies, and provides turn-key solutions. You can learn more about these offers and other features on the UTIP company’s website.

It is a mistake to believe that the broker needs a website only to aware their clients with the company profile or to download the terminal. The forex-broker website is mainly designed for fetching the leads. If the “client capture tools” filter is enabled on the website, leads will be regularly fetched. These tools are often used for start-up forex-brokers as the forex-industry advertising is the most money-guzzling in the world.

Next, the Utip Technology website development team shares their experience on how to get more leads from a landing page or a multi-page site.

1. Set financial widgets on the website

Widgets provide your website visitors with the latest updates about financial markets. You save your client’s time from unnecessary searches of the current market information by publishing your own analytics on the website.

Set financial widgets from the MarketCheese analytical service. This service works faster and more reliable than the TradingView analog.

Financial widgets from MarketCheese:

• Economic calendar;
• Chart;
• Market leaders;
• Market behaviour;
• Release of an important event;
• Market forecasts.

Tip: add a button into the each widget to register in the Trader’s Room, this can increase your lead conversion twice.

2. Connect the CRM system to the feedback form

Having connected the CRM system to the communication form on the website, the work with clients’ requests will be optimized. In other words, no lead gets lost in an e-mail. That will allow you to cut leads’ losses.

Tip: the client contact form is basically set on the contact page, but we recommend setting the form on additional pages to increase the number of clients’ requests.

3. Add a promotion banner to each page

A promotion banner added to each page of the website will motivate the client to register in the Trader’s Room and open a trading account. The promotion banner targets the website visitor to register in the Trader’s Room. Design the banner so that it would stand out in the great advertising landscape on the website and place it in a prominent position.

Tip: try not to overload the reader’s brain. Avoid an avalanche of texts, icons and images on the promotion banner. Draw up a call-to-action note and add a button for opening an account in the Trader’s Room.

Summary

Traders haven’t read positive feedbacks on the websites for quite some time and don’t confide in eye-catchy pictures downloaded from the Internet. Getting more leads from the website is resulted from adding financial widgets, connecting the CRM system to the form of communication and placing advertising banners on secondary pages. That will be enough to gain a competitive advantage for your project, as well as retain your clients and attract new ones. To get more information, feel free to contact the UTIP Technologies website development team or leave a comment down below.

In the present article, the UTIP Technologies specialists pointed out the advantages of working without license for forex brokers and common non-regulated jurisdictions.

Why registering a forex-company in unregulated areas is worthy?

Non-regulated jurisdictions, also known as offshore zones, are popular because of low or zero taxation and various perks. Unregulated brokers are free from making a number of procedures, providing financial reports and doing other activities. Meanwhile, their licensed colleagues are required to perform it regularly. As an example, regulatory authorities underway monitoring procedures in the offshore jurisdictions. But an unregulated broker is immune to it.

Benefits of selecting an offshore jurisdiction for company registration:

• A low-priced company registration;
• Coherent procedure for opening a company and further maintenance;
• A completely remote registration process, no cost of visiting the country, maintaining the office and its staff;
• A minimum set of documents for registration;
• 1-month company registration period.

Unregulated jurisdiction is the most favorable option for novice brokers. The reason is that a new entrant can make the most of money saved on the license. For example, to invest in high-quality lead flow, connect several payment solutions including a cashier one etc.

The most common non-regulated jurisdictions

SVG. Saint Vincent and the Grenadines is one of the most popular countries for conducting Forex activities without a license. An island nation in the Caribbean Sea. We have already mentioned that there are many large forex-brokers working there.
The article titled «First-rate unlicensed brokers and the advantages of working without license».

MI. The Marshall Islands have no local forex trading regulatory bodies either. This is an island state washed by the Pacific Ocean.

Differences between SVG and MI:

• Price and time: cheaper but longer to register a company on SVG.
• Set of documents for registration: fewer documents are required on MI.

None the less, brokers should be aware of required professional knowledge and Forex market-experience for working in the offshore jurisdictions. We are always ready to assist in registering a company in the offshore jurisdictions. If the question of registering a company on SVG or MI is relevant to you, we are pleased to give you a more detailed information. Follow the UTIP website to get more information about these and other special offers.

If you have just run your business as a brokerage company, then the question of setting up optimal trading conditions that will boost profit and significantly minimize risks is on your agenda.

It takes too much time to get into the heart of the matter. Opening a brokerage company requires extra-time and investments, that is why a quick return on investment is highlighted.

UTIP Technologies helps brokers to start business without wasting their precious time and money.

A wide range of quotes provided

UTIP Technologies delivers a wide set of symbols in the package, regularly expands it with popular financial instruments such as classic currency pairs, commodities, foreign and Russian stocks, indices and cryptocurrencies. Now the package contains about 200 traded symbols.

Brokers can add any assets they want through a dedicated manager.

Several trading conditions types provided

UTIP Technologies specializes in developing apps, working with highly experienced brokers traded on over-the-counter markets and setting up trading instruments. UTIP targets with several settings’ options depending on the trading strategy. Such combinations of swap settings, spreads, commissions and other parameters will allow to match the trading conditions of the largest brokers attracting more traders and reducing risks.

Our trading terms and conditions let you launch your own business right after the trading platform installation, because all work is underway simultaneously. As a result, you will get a full operational product.

If you are still in vague how to organize the work with traders, you can start with simple conditions that most of our brokers find suitable. You may alter trading conditions when cooperating with our specialists. They are up to customize all your demands and make up an appropriate option. Above all mentioned, you are able to define the right conditions and make your own strategy by applying a bundle of settings.

UTIP Technologies is ready to offer:

• An off-the-shelf set of popular trading symbols and the possibility of its expansion.
• A fully customized “out of the box” platform.
• Well-thought-out trading conditions give a quick start of doing business.

If you want to learn more about the UTIP Server and other UTIP products, submit a request on the website, then the manager will contact you and get you familiar with the offer list.

UTIP Technologies specialists share their experience in dealing with payment solutions.

The unstable situation that unfolded on the acquiring market for Forex companies in January 2021 in some jurisdictions made us rethink our approach to assisting brokers in working with payment solutions. Our clients know that we are always ready to help them in this matter. And we want other brokers to get to know about our approach to work with payment solutions.

 

We assist with integration of payment and cashier solutions, even if they are not listed in our platform

We are always pleased to meet the broker’s demand for integrating a payment or cashier solution, no matter if it is or not in our platform. At the beginning of 2021, the service used to cost $500 per integration. Now we provide it for free. We accept an unlimited number of integration queries.

We have integrated more than 10 solutions for some of our clients. So, they have saved money by cooperating with us.

Moreover, turning back to early 2021, the brokers used to pay $500 for connecting a payment or cashier solution to the Trader’s Room (TR). As of now, the service is free, and there are no limits on the number of connected solutions.

Integration means implementation of a new solution in the platform.

Connection means adding an integrated solution to the Admin’s Room.

 

$100 service fee for one connected solution

The service includes the ability to use the solution in the UTIP Trader’s Room, update it and rely on technical and consulting support on the connected solution. Some companies include this service in their monthly fee. Meanwhile, some providers do not have their own Trader’s Room and/or CRM, which means these companies do not connect solutions for brokers on their side. That’s why, there is no fee for this service.

 

We integrate payment and cashier solutions within a work-week

We have set a short and clear timeframe for integration of a solution on our side, which is 1 working week. Just in case, we would like to explain that this period is exclusively for our work on the platform, and by no means it includes sudden improvements on the part of the solution itself, occasions when VISA is down, the broker’s inability to pass verification or other situations that increase the duration of the integration for reasons beyond UTIP’s control. For comparison, we also inform you that most of the other platform providers have an average integration period of 7 to 14 days for one solution, and depending on the complexity of the work, it may be longer.

We make test and real payments

Making test and real payments is an extremely important step in the integration process. We are also ready to undertake this stage, and especially for this we have a VISA card issued in Russia. However, there are situations when we can not help with making payments, namely:

• a MasterCard card is required,
• the minimum payment amount is relatively high,
• our card is not supported,
• the payment is in cryptocurrency, via an e-wallet, a bank transfer, etc.

For a prompt consideration of integration requests, we have created an online form, the answers from which immediately go to our developers after the broker fills in the form. There is no need to leave a ticket for the technical support, contact your manager or a specialist of the Partnership department. If there is a need to clarify the details, we will contact you ourselves.

 

We publish digests on payment solutions

In addition to the technical part of integration, we also release our Digest on payment solutions in order to regularly inform the brokers on payment acceptance issues.

We integrate deposit-only solutions. For security reasons, we do not integrate withdrawal methods. We know that many brokers use alternative payout solutions: crypto, electronic wallets, card withdrawals, etc.

Our platform offers more than 40 solutions for brokers. Apart from that, we cooperate with 40+ different providers. If you take an interest in our offer, feel free to contact us and we will be pleased to assist you.

UTIP Technologies experts explained the key reasons to connect multiple payment solutions.

Great customer service may retain clients and reach a new audience even if the product is average. At the same time, the critical point of any service is receiving payments. Rejected transactions, as well as long payment confirmations usually result in time losses for clients. This, in turn, hurts the company’s goodwill.

So, an outstanding customer experience requires reducing transactions denied or delayed, and facilitating convenient payment options for customers. That is not an easy thing to do with a single gateway.

Faced with these issues, companies connect their apps to multiple payment processors. Let’s consider the prime causes for using several payment solutions more closely.

Covering greater geographic areas

The need for multiple gateways is evident when a business expands overseas. While dealing with other countries, you’ll notice a distinction in support levels. Some providers may cite support for a specific country but, in fact, they support only particular payment methods and currencies. Or their capacity to process transactions quickly and lag-free is limited.

By adding support for multiple payment processors, you’ll have the opportunity to route transactions through the gateway that renders the best maintenance for a specific region. The outcome is more efficient transactions for your business.

Providing business flexibility

A more common issue arises when the gateway goes down or becomes unresponsive, along with other technical malfunctions from the acquirer side. Whenever that happens, customer loyalty is lost and profits fall.

With multiple payment processors, the customer may easily re-route transactions through an alternative gateway with minimal time losses.

Having high volume transactions

One more typical scenario involves a merchant possessing great volumes of transactions. A case in study can be the following situation: merchants have analyzed that there is a chance of the currency profitable selling in a specific time period. As determined, a massive influx of transactions comes into play. Companies should provide alternative gateways during these momentary surges. The reason is quite simple: their on-sale has to proceed smoothly.

By using multiple payment processors, you don’t need to sacrifice. There exists an option to choose the most suitable provider from a business perspective. So, the benefit is mutual.

Instead of choosing one gateway, brokers should realize their business needs. Fast-growing companies, in turn, have to estimate their corporate flexibility, along with transactions delayed and successfully conducted. If these are your top priority, then a balanced portfolio of multiple gateways and a secured market position will open ground.

Nobody is secured from unforeseen glitches in the equipment operation. There’s a bunch of factors causing system updates, software errors, power outages or failure of any components. If such glitches appear on the quote provider’s or the broker’s end, the quotes feed will stop coming to the trading terminal, and the archive history will be full of gaps.

 

 

Taking into account such cases, UTIP Technologies has developed a ”Reference server” that provides a steady quote archive without gaps in the history as the archive integrity is a key moment in the trader’s work, necessary for conducting a high—quality technical analysis of trading.

The “Reference Server” operating principles

With reference servers running continuously, the system automatically synchronizes the quote archive with them and loads the missing quotes in case of their absence due to glitches in the physical servers’ operation where the UTIP trading platform is set up on.

 

 

Example:

The server provider has suddenly released an update for the operating system. The UTIP trading platform is unavailable all the time of updating — the current quotes are not coming. After the server restarts and the trading platform is launched, all the quotes missed at system downtime are automatically load from the reference server and appear in the platform from its launch.

The quote source is running without any glitches. Our specialists always keep an eye on the quote feed by using special software and make troubleshooting as fast as possible.

The “Reference server” peculiarities

• The trading platform is continuously synchronized with reference servers;
• All the symbols are taken from the basic and the extended packages;
• Automatic recognition and loading of missing quotes;

If you’re looking to be better informed about the UTIP Server and other products, submit a request on our website, and our manager will contact and tell you about this and other offers.

UTIP Technologies specialists told us about the increasingly popular P2P payment method and its specifics.

Finding a reliable payment solution always seems to be a complicated task. Searching for working solutions at present time which is especially taken as a burden in some regions, providers and their acquiring banks are able to change conditions, close payment gateways, reduce the overall conversion for reasons beyond their control.

Being UTIP trading platform providers offered more than 40 integrated payment solutions, we have defined prospects of the P2P payment method, so we recommend it to our customers. And now let us spread the word on it.

 

What are P2P payments?

P2P (Peer-2-Peer) payments are payments between individuals. In general terms, these are transfers between cards or bank accounts based on Internet banking.

P2P as a payment solution for accepting funds works a little differently. In this case, the payment solution operators serve as mediators between the trader-sender and the broker-receiver, and the refund (settlement) is sent to the broker in the USDT stablecoin:

Credit period

If the payment is made correctly by the payer, USDT is credited to the broker’s balance within 1-2 minutes after payment and gets available for withdrawal to any crypto wallet without delay.

Upon that, traders have 25 minutes to transfer funds to the operator’s card and attach a receipt. This timeframe is sufficient for successful payment.

 

The reliability of P2P payment method

Operator accounts which transactions are processed through have a special status and certain preferences. It allows to provide wide limits on transaction amounts and avoid blocking transfers. And the operators go through all the necessary verification procedures.

 

Competitive advantage over Internet acquiring

• Easy to connect.
• No need to account to regulatory authorities.
• Settlement in stablecoins.
• The ability to work on input and output.
• High limits.
• A wide range of available currencies.
• Bank will not block the transaction.
• Low commissions — 4.5-5%.

Above all, due to sanctions, most banks may not be capable of providing Internet acquiring services for a few countries, that is why the P2P payment method has become a worthy alternative option.

 

Who can choose P2P payment method

Brokers with 30 000 USDT turnover per month, as well as TOP 10 brokers worldwide. Therefore, this method is a good option for both large brokers and entrants.

 

How to connect and pass through the KYC procedure

The whole process can be completed within one to two days. The KYC procedure for such payment method is much simpler and faster than Internet acquiring connection from a bank.

You will be just asked to submit a minimum set of statutory books. Aftermath of submitting the documents, the payment system delivers a special KYC questionnaire. You fill it out. If the PSP has no questions left, a merchant account, dashboard and payment links will appear onto your account. Submit a PSP integration request to the technical support team and provide them with the necessary API keys required for filling in the PSP merchant account fields.

If the matter of choice, payment solution integration and connection is still relevant, we are pleased to provide you with a more detailed information about this and other options. Submit a request on our website and our manager will contact you.

In the present article, the UTIP Technologies specialists told about the advantages of working without license for forex brokers, common non-regulated jurisdictions and the list of brokers who are ready to work without license.

The advantages of unlicensed work for Forex broker

Low corporation registration fee

 

Unlicensed	Licensed
from $2500	from $50,000

 

Corporation registration fee includes the license cost. The license cost depends on the place the jurisdiction is acquired. For example, Vanuatu or the British Virgin Islands license will cost several tens of thousands of dollars, whereas the USA license will cost under $20,000,000.

No need to visit the office for getting the company registered. The company registration is completely online. No expenses on visiting the country of registration, running the office and staff.

Simple procedure for opening a company: The only thing required is to provide a minimum package of documents, the whole process will take you up to a month.

Registering a company without license:

A licensed company registration is roughly the same, but the applicant company has to be in compliance with jurisdiction statements. For instance, here are the requirements for obtaining a Cyprus license:

• The investment company headquarter should be located in Cyprus. Core business has to be running in Cyprus.
• The company paid the required fee in the Central Bank of Cyprus. The amount depends on the range of the services provided by the company and on the core business. Membership fee for the Association of International Investment Firms of Cyprus (ACIIF) has to be paid;
• The balance guarantee is also included in the package of documents to get a brokerage license in Cyprus.
• The company’s human resources should hire a specialist majored in anti-fraud and money laundering (Compliaence officer), risk manager, internal auditor. Also, the company should have a Board of Directors, a secretary, an accountant, heads of brokerage, financial and IT departments, traders. It is allowed to combine some job positions, qualification requirements are applied to those who occupy the director’s post.
• The company’s business plan;
• Three-year accounting budget;
• The company should prepare a Policy on anti-fraud and money laundering as well as a KYC (“Know your Customer”) policy;
• Staffing table;
• The police clearance certificates of each employee;
• Information about the absence of bankruptcy status for each employee of the company.
• The person has opened a bank account without withdrawal right for the license period. CySEC must be sure that you own equity. The equity depending on the core business is calculated as follows: If you are an investment analyst — 50 thousand EUR; If you are a broker-agent — 125 thousand EUR; If you are a liquidity provider (market maker) — 725 thousand EUR.

If at least one statement is not fulfilled, the company is rejected in receiving a license from CySEC. The Cyprus Securities and Exchange Commission is obliged to make its decision within 6 months after receiving the application. Overall it takes 4 months.

Common non-regulated jurisdictions

Saint Vincent and the Grenadines (SVG) is an island state in the Caribbean Sea. Marshall Islands (MI), located in the Pacific Ocean.

What brokers can work without a license

Despite the fact that it is much easier and more affordable to open unlicensed business, this method is widespread amongst both beginners and already reputable brokers. The table below shows a list of the largest unlicensed brokers and their place of registration.

 

Broker Name	Jurisdiction	Important!
Olymp Trade	SVG	—
OctaFX	SVG	—
Alpari	SVG*	Don’t mix up with Alpari International registered in Mauritius
AMarkets	SVG	—
InstaForex	SVG	The main company has a license, but the company enlisted in the table is registered in this jurisdiction.
Forex Club	SVG	One of the two payment agent companies is also registered on SVG. Don’t mix up with the “Forex Club Financial Company” included in the register of Forex companies of the National Bank of the Republic of Belarus.
Forex4you	SVG	The main company has a license, but the company enlisted in the table is registered in this jurisdiction.
BCS Markets	SVG	Don’t mix up with the BCS stockbroker.
Teletrade	SVG	Don’t mix up with TeleTrade EU had a Cyprus license.
FreshForex	SVG	—
Libertex	SVG	The main company is licensed in Cyprus. Nonetheless, Libertex.org run by Forex Club International is registered on SVG. Also Libertex.org run by MAEX LIMITED has a Mauritius license. The payment agent company is located in Cyprus
FXOpen	Nevis	—
Grand Capital	SVG + Seychelles	—
Forex Optimum	SVG	—
NPBFX	SVG	—

 

The information in the table is taken from the official websites of these companies.

Our experience in this domain makes it possible to confidently assert that the list of brokers with the company on SVG or, for example, MI, is much wider and also includes plenty of small and medium-sized brokers.

Once again, about the non-regulated jurisdictions advantages

• low registration fee;
• short terms;
• favorable terms of extension;
• absence of taxation, provided that you do not provide services to residents of SVG and MI;
• a small package of essential documents for registration (2-4 documents);
• no need to open a headquarter or online office on the territory of the registered country.
• a closed register and non-disclosure of information about the beneficiary, director and shareholder of the company.

If the question of registering a company on SVG or MI is relevant to you, we are pleased to give you more detailed information. Moreover, in addition to registering companies, we provide our own software, develop the website for Forex brokers by meeting their demands. Follow the UTIP website to get more information about these and other special offers.

In December 2020 and early January 2021, the card processing market for high-risk became virtually “frozen”. This happened due to several negative events initiated by the Central Bank and VISA. The end of 2020 was especially unpleasant for Forex brokers, existing payment aggregators and several banks.

In early December, the Central Bank fined Qiwi-Bank 11 million rubles and limited some of its operations. Then there were careful test purchases by VISA, as a result of which, RFI Bank also received a fine. In addition, one of the main banking partners of the payment aggregators, FinTech and Onego Banks, lost their licenses. It was these financial organizations that provided processing through most of the payment systems in Russia.

Now the partners are looking for ways out of the crisis by bypassing the current market situation and are looking for new banks that are ready to provide card processing for Forex brokers. But until the exit paths are found, it is worth paying attention to crypto processing, which has its own advantages over the traditional banking one.

The first advantage of crypto processing is the cryptocurrency fees are lower

Usually, for unlicensed brokers, the fee for transfers in cryptocurrency is only 4-6%, but in payment aggregators via VISA and MasterCard it varies around 6-10%. The percentage of the bank fee is higher because it is influenced by a number of factors: the method of sending money, the chosen currency, the distance of a transfer (within the bank or to other financial institution), a transfer within one country or abroad and etc.

The second advantage is the speed of transfers

In the case of cryptocurrency, there are practically no delays; transactions are almost always instant. On the Bitcoin network, sending funds usually takes about 10 minutes, which is the slowest system. For example, transactions take place several times faster on the Ethereum and Litecoin blockchain. In the case of Ethereum Classic and XRP, transactions are carried out within a minute.

Transactions through VISA and MasterCard also go through almost instantly, but in the process, nuances may arise that affect the success of a transfer in the high-risk segment. Transactions are often canceled by a PSP due to suspicions of untrusted traffic or miscoding. Also, the reason for canceling the transfer may be a card issued in a certain country. Therefore, PSPs indicate the countries, cards from which cannot be used.

The third advantage is that there is no miscoding but there is stability of transactions

If everything is clear with traffic and non-working cards, then it is worth talking about miscoding in more detail. A bank can cancel or delay a transaction for verification if it considers it suspicious, that is, it suspects miscoding in it. Miscoding happens when is a four-digit number, demonstrating the type of activity of the company that receives the payment, is replaced. For example, if the transaction code assigned by the PSP is 7995 (“gambling”), then the bank must automatically block the transaction. But casinos without licenses use miscoding, using other codes for transactions, such as – 7994 (“video games”).

Cryptocurrencies, on the other hand, do not have a governing body, so no one can suspend, cancel, block or somehow influence a transaction.

However, cryptocurrency also has a disadvantage – the process of convertibility

The exchange chain for any coin is as follows: the user needs to buy bitcoin or another cryptocurrency, send it to the addressee or to another account and then change it back to fiat. Therefore, converting cryptocurrencies to dollars, rubles and other traditional currencies is not always profitable and convenient.

However, this disadvantage is partially compensated by card processing.

In order not to slow down the work of high-risk merchants in the crisis situation, the payment aggregators have found a solution to the issue by carrying out crypto processing via VISA and MasterCard. Now coins are automatically converted to fiat, and back from fiat to crypto for withdrawals.

In crypto processing solutions, miscoding is not used. In VISA and MasterCard, such transactions come with a code – “purchase of cryptocurrency”, which does not require licensing.

For example, you buy cryptocurrency with your VISA card within a PSP itself. The PSP automatically selects the current rate based on which currency you are using and how much cryptocurrency you want to purchase through the built-in widget. The widget then automatically transfers the fiat crypto to the merchant account of the PSP. In other words, the convenience and simplicity of card processing are combined with the speed and safety of crypto processing.

According to a survey of four PSPs, this method will become the standard by the end of 2021, since no concessions from VISA and MasterCard are predicted and financial penalties related to Forex processing will increase.

UTIP specialists help to register European and offshore companies, register bank accounts, connect payment solutions and provide software for brokerage companies. Read more about the services for brokerage companies on the UTIP website.

Many people still consider Forex to be a high-risk business. Problems are being predicted for both traders and brokers. Traders are frightened by “kitchens” and fraudulent companies, brokers – by problems with the law in the countries where they work. Before we consider the various risky activities, let’s look at what “high risk” is.

What is high-risk business?

High-risk activities can be characterized as onу word – difficulties. They arise because high-risk merchants are being projects, whose work is associated with high risks. Once approved by a bank or other financial institution, these projects cannot qualify for traditional processing agreements. In order to be able to accept card payments from the customers within the specified area, a company needs to go through a complex process, with many “pitfalls”, features and nuances.

Each transaction of a high-risk business is considered by acquirers separately in each specific case. But there is a general list of signs of high-risk activity:

• a large percentage of refunds on payments
• sale of goods or services in countries with high risks of financial loss and fraud in this area (Afghanistan, American Samoa, Bahamas, Botswana, North Korea, Ethiopia, Ghana, Guam, Iran, Iraq, Libya, Nigeria, Pakistan, Panama, Puerto Rico, Samoa, Saudi Arabia, Sri Lanka, Syria, Trinidad and Tobago, Tunisia, Virgin Islands and Yemen)
• no credit history or negative credit history
• monthly sales of over 20,000 US dollars
• the size of each credit card transaction from 500 US dollars
• trading and accepting transactions in several foreign currencies

Betting

Betting is the conclusion of a bet on the outcome of a sports or other event. Each outcome has its own coefficient-it is set by the bookmaker, depending on how predictable the result is.

Every day, thousands of competitions in various sports take place in the world. There are also non-sports events for which forecasts are also accepted: politics, cinema, shows, natural phenomena.

Previously, bets were accepted in special clubs personally or through intermediaries. Now the betting process has become much easier: most bookmakers offer their services on the Internet, so a bettor (a person who makes sports bets) can bet without leaving home.

One of the types of betting – sports betting – is often referred to as gambling, but betting has big differences from casinos or slot machine halls. If in playing roulette you need only luck, and nothing depends on the player, then betting requires knowledge of statistics, the ability to analyze and experience. There are many factors to consider: the fitness of the players, the line-ups and even the weather during the match.

Gambling: the will of chance

The term gambling, as a more general one, has several meanings, but they all have one thing in common – this is a game of chance. If you look from the point of view of the financial market, the term will sound like this: gambling is a type of financial activity in the foreign exchange market, in which income depends entirely or mainly not on the experience and knowledge of the trader, but on the case.

Casinos and other gambling games have always attracted passionate gamblers. But they began to gain the greatest popularity with the spread of the Internet. The audience of virtual gambling games is very wide, they are available to users in almost any country, regardless of whether they bring profit to the budget or are illegal. Analysts predict the annual growth of global online gambling, so the trend towards its spread will only strengthen.

The main types of entertainment offered by gambling sites are: poker, casino, bingo, lotteries.

 

How to reduce risks

To stay afloat, a high-risk company must structure and expand its business on time. For this purpose, holdings or operating intermediary companies are usually created. They are used to trade on behalf of foreign companies in different jurisdictions and to receive dividends. In short, they act as an agent of a high-risk company.

The business manager distributes the work and risks of the companies, assessing possible legal and financial difficulties. As a result, when one or more merchant accounts of payment systems are closed or when legal problems arise, the company will be able to continue working almost in the usual mode.

For example, if a digital business owner provides services over the Internet and makes a profit through payment systems, he should have several accounts in different systems. This way, he will be able to control and distribute money traffic. This allows you to keep the level of funds returned to the buyer at a minimum and at the same time keep the distributed funds in such an amount that will be invisible to the tax control authorities.

Proper structuring should not be considered as a way to avoid taxes or hide capital, but as a necessary way to plan the future activities of a company in difficult conditions. Without this, it just won’t be able to function. In this case, we are talking about the following components of any high-risk segment:

• company structure – the right choice of jurisdictions;
• competent drafting of contracts in the chain of companies;
• ensuring smooth acceptance of funds from clients – connecting several payment systems.

However, there is no ready-made template that will fit in any situation. In each case, you first need to understand how the business structure operates, what its composition is, what tasks are set by the business owners. It is difficult for the owner of the company to take into account all the nuances and collect all the necessary documents on his own. For this work, it is better to contact professional intermediaries.

NewBroker will help you choose the right jurisdiction and properly structure your business. You can ask questions to our specialists or order a service by phone +7 (495) 108-07-97, by e-mail info@newbroker.org. You can also submit a request on the website http://www.newbroker.org/contact/.

The NewBroker company explains why Forex companies need to connect several payment systems at once.

In order to successfully work in the Forex market, the broker must provide customers with comfortable conditions for replenishing their accounts. But in the process of depositing funds, the trader might be facing various problems. As a result, he will be disappointed in the broker, as a service provider, and will transfer to another company.

In this article you will read about what problems a trader most often faces when replenishing an account and what the advantages of connecting several payment systems at once are.

Problem № 1: the client is in another country

If a broker expands his business and enters foreign markets, he must provide traders with the opportunity to deposit funds from their country. Typically, local payment systems offer residents of the country more favourable conditions: small commissions, higher speed of operations, technical support in their native language, etc.

By adding several payment systems to the Trader’s Room, the broker gives customers the opportunity to replenish their account through the payment solution that provides the best support for their specific region. As a result, the Forex company can increase the number of successful transactions.

 

Problem № 2: technical issues

The most common problem that traders face when replenishing an account is a technical failure in the payment system. The client tries to deposit money once, second, third time, but cannot successfully complete the operation, is nervous and goes to another broker. In this situation, the trader does not care exactly where the failure occurred – he works with a specific broker who cannot provide uninterrupted replenishment of the account. Connecting several payment systems helps to solve this problem. If the client cannot deposit money through one payment system, then he will simply use another.

 

Problem № 3: high volume of transactions

Another common scenario is that the merchant has large volumes of transactions. There are situations when a large number of clients of the Forex company decided to deposit or withdraw funds through one payment system. The servers of the payment system are overloaded, the speed of operations decreases. For such “spikes”, brokerage companies must provide alternatives to payment solutions – suddenly one of the gateways might not be able to process a large volume of transactions. In this case, the trader can use the alternative offer and replenish the account without loss.

By connecting several payment systems at once, the Forex company provides traders with the most comfortable and fastest replenishment of their account. And for the connection of payment systems to be successful for the broker, he should turn to professionals. NewBroker’s partnership department provides consulting services, helps to create a Forex company and connect the best and most profitable payment solutions.

You can ask our specialists questions or order the services by phone +44 20 3695 3046, by e-mail info@newbroker.info. You can also leave a request on http://www.newbroker.info/contact/.

The NewBroker team has conducted a survey among registrar companies to find out which jurisdictions are in demand for “unregulated Forex” and whether the practice of registration in the offshore is relevant at the moment or not.

Popular jurisdictions for Forex-brokers

In the survey, we established the most popular offshore jurisdiction with Forex companies without a license, which is Saint Vincent and the Grenadines.

This popularity is due to the fact that in the offshore zone, there is low or zero taxation offered and various benefits are provided. In addition, unregulated brokers are not required to go through certain activities and engage in those activities that regulated brokers should go through on a regular basis. For example, regulatory authorities often organise inspections of licensed companies, but no one will knock on the door of unregulated brokers to check their documents and accounting.

However, to work in this jurisdiction brokers will need professional knowledge and experience in the Forex market. As a rule, start-up companies, for which obtaining a license is not always important and necessary, are registered here. Often, having a license is more of a matter of marketing and it enhances the status in the eyes of the trader. As for a beginner broker, they can distribute the money saved on a license more efficiently. For example, in the Russian market, Forex brokers attract their customers with various bonuses, gifts, low spreads and profitable affiliate programs.

Offshore zone + Europe: pros and cons

A special demand among brokers is a combination of companies from SVG + Europe. In this scheme, two companies are created, one of them is registered in the “offshore” zone, and the other – in the European one. As a rule, the second one is registered either in Estonia or the UK. Then, an agency contract is concluded between the two companies, and the company in the European zone acts as a payment agent of the offshore one. This registration method allows the broker to work with international payment systems and electronic banks, such as Paysera or E-payments.

The average registration price of the SVG + Europe combination is 3600 euros. Such a low cost is another reason for the popularity of this combination.

The time required to register a company could be seen as a disadvantage since the total term depends on a number of factors, but on average the process lasts from 2 weeks up to one month

Another drawback is that it is becoming increasingly difficult for a European company to open an account in a physical bank at the moment. This is due to the fact that Visa and Mastercard have become more demanding to the combination of European + SVG companies. Moreover, the UK’s FCA has recently been very aggressive towards such companies because “unregulated” brokers use the UK company as a “broker” for promotion, deliberately misleading customers via the Internet. Therefore, many registrars, including NewBroker, open accounts for unregulated Forex in electronic banks (Paysera) or EMR.

There is also a widespread belief among traders that trading with unregulated Forex brokers may pose a certain risk. But often, such fears are unjustified. Many offshore companies can provide highly professional services and reliable trading products.

In general, offshore registration can have its pros and cons. One of the main advantages that attracts brokers precisely to unregulated jurisdictions is the tax system. Minimal taxes or their absence can significantly reduce the company’s operating expenses. In other words, the best unregulated Forex brokers can benefit from the lack of a license by saving the money and using it for more important purposes. For instance, for marketing purposes.

Help with registering a company

NewBroker offers registration services for an unlicensed Forex company and a European payment agent, as well as assistance in opening a bank account for them. By this moment we have helped to open more than 70 brokerage companies that are working successfully through offshore organizations.

The full registration package of an offshore company includes opening of a Forex company in an unregulated jurisdiction – Saint Vincent and the Grenadines, as well as remote opening of an account in one of the European banks. As part of the package we create a modern website with financial services and a version for smartphones, connect a payment system to receive funds via Visa/Mastercard on favorable terms. Also, the cost of the service includes a software package from UTIP, which in its turn includes one of the best Forex platforms, Trader’s Room and a CRM system.

If you have any questions concerning registration of an offshore company or you need to open an account for an unlicensed company in a European bank using the SVG + Europe combination, then call us by phone.

You can ask our specialists questions or order the services by phone +44 20 3695 3046, by e-mail info@newbroker.info. You can also leave a request on http://www.newbroker.info/contact/.