While the Coronavirus may be hindering the world, it has not slowed down CFD broker FVP Trade, which is continuing to push onwards with its expansion plans.
FVP Trade is embarking on a new phase of growth, which will see the broker expand its geographical presence across Europe and Asia, as well as improve its product portfolio.
We spoke with Tim Booth, CEO of FVP Holdings to learn more about how the Coronavirus has impacted the business and what the future holds for them.
When asked how the pandemic has affected FVP Trade, Tim highlighted that the pandemic is perhaps one of the greatest tests the retail brokerage has needed to face in years.
“At FVP Trade, we have stayed focused on implementing our key expansion plans. The Coronavirus has not hindered us, to the contrary, we’re pleased to say that confidence in our robust business model has only accelerated. We’re an online service provider, so we haven’t been impacted in the traditional sense, as numerous other companies have. Customers were still able to access our award-winning platform, even during the lockdown measures.”
“The Coronavirus has dramatically changed the operational functionality of companies, however, our contingency plans have made it simpler to execute new measures. Therefore remote working has had an easier transition than expected at first as we were well-prepared and all our staff had the required infrastructure they needed to work remotely.”
The Impact of the Coronavirus on the Industry.
When asked about his thoughts on how the CFD industry has dealt with the coronavirus pandemic, Tim said that brokers were one of the major winners on the back of the Coronavirus, as traders became more active during the heightened uncertainty.
“As a business, we know that crisis and opportunity coincide, we’ve proved that we’re more than capable of dealing with such conditions, an optimist may even say that the volatility has made us even stronger,” Tim highlighted.
“Our company’s emergency plan came into effect at the start of this year when the coronavirus first took hold of the globe. We rapidly moved the majority of our trader education programmes from actual seminars to online webinars to meet our customer’s needs.”
Changing The Way People Trade.
So what could the long-term impact of the pandemic be? Tim believes that Coronavirus has made investors trading habits change. Investors are trading night and day and a huge number are now using mobile apps.
“The increasing use of smartphones within the CFD industry means that numerous traders will be choosing their brokers based on the efficiency of its mobile trading app. We’re seeing the start of innovative advancements that support smooth mobile trading for FVP Trade customers, that can accelerate customer portal processes,” Tim added.
He went on to say “We’re also looking to use quantum computers and machine learning to operate our state of art customer portal as we continue to upgrade our technology.”
FVP Trade Continues to Focuses on Technology and Team.
In addition, Tim explained that the business has been investing heavily in overhauling its technology and launching new products. As mentioned before, FVP Trade has also been increasing its team.
“The acquisition of our Quantum Computing arm, Qfinity Labs, also came in 2019 where we allocated a huge amount of resources and we are very proud of the results we’ve seen in such a short timeframe, as we have created several profitable trading algorithms which benefits our customers. We strongly believe that what is right for our customers will be best for the business in the long haul and drives our future decisions,” he continued.
Education Continues to Be at The Forefront of FVP Trade.
Apart from all of the changes previously mentioned, educating traders continues to be a major area of focus for FVP Trade, and will remain one of their largest areas of focus going forward. This will be seen on the company’s revamped website.
The new sections are Trading Strategies, which will cover all topics crucial to trading, and Market Analysis, which will be a section of the website dedicated to delivering up to date market news.
As a feature of its focus on education, FVP Trade plans on running online educational webinars, which are planned to replace the actual seminars the company previously hosted. The webinars will include expert traders and investors who will impart their insight and knowledge to customers. In addition to this customers will be able to view relevant market analysis collated by the companies top analysts, led by James Stewart, FVP Trade’s Chief Market Analyst.
Looking to the Future.
If market volatility continues, it can be expected that 2021 will provide excellent opportunities for growth. However, according to Tim, FVP Trade continues to focus on projects that it has been working on since mid-2020, rather than worrying about what might happen in later 2021.
“We are confident that our strategy over the past couple of years has been effective, and we have a very clear plan that should allow us to achieve the objectives that we have set ourselves,” he said. “We will continue to enhance our sales and marketing strategies, grow our position in every country we are currently in, and with our quantum research we will develop technologically in all areas of our business.”
FVP Trade is also in the process of expanding its geographical standings. Mr Booth announced that the company has plans to open several additional offices across Asia to increase our physical presence in the region, to bring us closer to our customers.
“I will keep them as a surprise for now. The current situation with the Coronavirus could delay the opening of the offices in the short-term, however, I believe that they will be opened before the end of 2021,” Tim added.
Source: EIN Presswire