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Screenshot of a breaking news alert e-mail from Q2 2017
At the beginning of this year, LeapRate predicted that FX companies would begin to completely redesign their websites, casting a view that home pages and key landing pages would become a lot more visual and dynamic.
As the firms head toward the new model, LeapRate spoke to Noam Stiekema, Marketing Director at BMFN in order to discuss at length the company’s new dynamic online presence, and the challenges facing BMFN from a marketing perspective and how the road ahead looks.
Mr. Stiekema, who recently discussed the new direction with regard to corporate websites and marketing methods in use among FX brokers on the Forex Industry Talk Show, explained the ethos behind the company’s complete redesign of its website.
“We bend over backwards and turn the world upside down for our partners” explained Mr. Stiekema. “Many brokers claim to offer amazing services to partners, however BMFN was built in cooperation with partners, fund managers and in turn we have built our technology and company as a whole to better serve their needs.”
“If asking where BMFN fits into the grand scheme of things as a broker in 2015, the answer is not simple” he continued. “BMFN launched its new website design yesterday. The overall look and feel of the site is certainly new for the industry and I cannot help but feel that this is a true snap shot put into design that demonstrates what BMFN is all about.”
“We offer exceptional trading conditions for our retail customers and we take good care of their needs, and being a firm which caters to the requirements of our 4,500 partners, we offer exceptional liquidity and institutional solutions. This must be reflected in a website which appeals to corporate partners in the same way as that of a professional services company, as well as direct retail traders who require clear and unambiguous detail” said Mr. Stiekema.
When asked whether this categorizes BMFN as a retail or purely institutional broker whose business is centered around partnerships, Mr. Stiekema replied “The simple answer is no. The fact is that we cannot compete with the free this and that and 100% bonus offers that make up a certain proportion of the retail market, due to its competitiveness. Moreover, on the institutional side of things, BMFN is not purely dedicated to providing liquidity and all that is involved in terms of running a business similar to that of some of the institutional liquidity providers in London.”
“In business it is often as simple as picking your place or spot in the market and not just doing little things better than your competitors, whilst striving to lead the way forward” said Mr. Stiekema.
“Instead of trying to be something we are not, it became clear that in order to progress into the 2016 onwards, we define ourselves as somewhere in between. A sort of super niche where we can operate freely. We take good care of our IBs, continue to provide exception execution and technology that helps our partners grow their businesses.”
Mr. Stiekema concluded by explaining “As for retail customers, there is no difference. We will continue to offer traders that are serious about trading without all the noise, good execution, fantastic support teams and great pricing. This new realization of where we fit into the larger market, has lead us to slowly rebrand BMFN over the past six months. It started small with documents, ads and has progressed to our new site design. We are still implementing many of these changes but over time this will most certainly assist BMFN in maturing into the niche that suits our business model and customer base.”