David Bily, The Founder of Moneta Markets, was Interviewed

To now, the sector has had an interesting 2022, with markets cooling down in response to COVID and current global strife fuelling volatility. We spoke with David Bily, the creator of Moneta Markets, about the year so far and the broker's most recent advances.

What has 2022 seen for Moneta Markets thus far, once the dust has settled from the effects of COVID？

So far, 2022 has been an action-packed year. Not only are we witnessing significant movements across a variety of sectors as a result of recent global events, but the team has been working tirelessly behind the scenes to expand and strengthen our offering to customers and partners.

So far, our major emphasis has been on strengthening our technology infrastructure. This resulted in our abandoning the Panda CRM and its web-based trading platform in favor of constructing a custom-built CRM that allows us to handle updates and new features internally. As a customer-driven brand, we need to stay ahead of our customers' expectations in terms of product offering, and this technical advancement gives us far more control over what we can supply to our clients and partners.

How do you intend to fill the hole left by customers who choose to trade on your web-based platform rather than conventional MetaTrader platforms？

It has always been crucial to us to provide the greatest trading platforms to our customers. And, although the Panda platform was an excellent choice for web-based trading, it was not without flaws.

Traders desired something far more comprehensive in terms of charts, according to input from our customers and partners. We had been in conversations with TradingView, whose charting is the finest in the business, and had worked with them for many months to put together a full solution for customers who want access to outstanding charting as well as the ability to trade straight from it.

TradingView has a large user base, and traders of different styles are acquainted with its charting tools and interface. We can accommodate rising demand and give a highly reliable and user-friendly solution by offering our clients what is likely the most popular web-based platform and having it interface smoothly with their MT4 and MT5 accounts and platforms.

What are the benefits of moving your operations to an in-house solution？

As a new broker, we have a particular edge over our rivals in terms of adaptability. We aren't hampered by red tape or the conventional legacy systems and infrastructure that many larger-established brokers are, so we can provide a more frictionless experience for our customers and partners. By moving in-house, we can create goods from the ground up, precisely as we want them, allowing us to provide a better solution than many off-the-shelf solutions.

One example is the creation of our new IB Portal. Our network of IB Partners is a key source of growth for us, therefore we must provide them with the finest platform possible. Our unique IB Portal is one-of-a-kind, having been built from the ground up. It enables our IB Partners to obtain total control over their leads, customers, and rebates, as well as complete transparency in reporting on every aspect of their company and, of course, the computation of rebates on every product we sell.

It is also designed to help them develop and grow their company; we constructed the gateway to handle up to 20 Sub IBs, which was a feature that was in high demand. We collaborate closely with all of our partners, and the new and enhanced IB Portal is a consequence of the input we've gotten over time; in my view, we've built the greatest IB Portal on the market right now.

We have already seen a major effect on deposits and trading volume, as well as our IB network, in the two months since we launched, with many new partners joining us from other brokers. And I credit a lot of it to the fact that we created the greatest IBS platform. We will continue to update it in response to continuous technology breakthroughs and, of course, input from our IBs.

What plans do you have for the rest of 2022？

We are always working with our customers to ensure that we continue to meet and surpass their expectations in terms of the goods and services we provide.

We are always adding new features and upgrades to our Client Portal and IB Portal, and there is always an opportunity for improvement. So that will keep us occupied. We've also been constantly releasing new instruments for traders, and we currently have 30+ crypto products, new futures products, and share CFDs available. We will not only continue to launch new products depending on customer demand, but we will also enhance those products continuously by narrowing spreads and lowering fees.

We just launched a zero-commission variety of US Share CFDs, which we will continue to grow on. Furthermore, as our trading volume grows, we are in a better position to negotiate better pricing from our liquidity providers, which we can then pass on to our customers.

We have numerous projects in the works that will add a variety of additional capabilities to our Client Portal. We plan to introduce our fully-integrated suite of trading tools, which will include trading signals, AI Market Buzz, a variety of MT4 and MT5 addons, all accessible in a client's preferred language, as well as a variety of educational materials, all from inside their Client Portal, in the coming weeks. Our mission is not merely to offer customers quick, convenient, and low-cost market access; we also need to equip clients with the tools they need to make better-informed trading choices, and we will continue to do so.

We are also securing new licenses via Moneta Markets, which is a time-consuming but necessary procedure. To keep ahead of the competition, we are always developing. We are committed to providing traders with the greatest trading environment in the industry. Traders need to know they are dealing with a safe and secure broker, and this reinforces their belief that they are trading with a legitimate market leader.

There seems to be a lot to look forward to in the coming months. Do you have any last thoughts？

With the larger economic climate in a big transformational moment, it's an exciting time for us as brokers and for financial markets in general. This will, of course, has ramifications for the brokerage business as a whole, and we anticipate more volatility, which tends to correlate to increased trading volume for us, so we want to make sure we can assist customers in benefiting from this rise in volatility. And, for our IBs and Affiliate partners, we are continually working on ways to better support and assist them in growing their businesses, whether via innovation, new technology, or product enhancements.

We will continue to use our agility to concentrate on providing what traders and partners want while also pushing the limits along the way to ensure we stand out from the competition.