FX industry sales, marketing and technology consulting firm Finstek LLC and Forex platform provider ActTrader Technologies have struck an agreement for Finstek to market and sell their jointly created new Forex, CFD and Binary Options platform called Act2020.
Act2020 is designed to provide access to the mainstream trading technology of ActTrader’s standard platform to the startup, smaller and mid size FX and CFD brokers. The companies have set up a separate website for the new platform at https://www.act2020.com.
The Finstek-ActTrader platform follows similar ‘light’ platforms recently launched by other Forex brokerage technology providers, such as Leverate’s LXLite. The idea, of course, is to appeal to entrepreneurs who may not have the deepest pockets, but have experience and expertise in the sector, as well as enough funds to invest in marketing. Not every potential brokerage startup group has $5 million in the bank.
As such, Act2020 has been set up as a fully hosted and managed, end to end, online trading platform designed for startup brokers, offering:
- No License Fee
- No IT Staff needed on the broker side
- No Transaction Fee
- No White Label Fee
- No Set Up Fee
- No 24/7 Support Fees
- No Hardware Costs
- No Data Center Costs
- No Long Term Contract Commitment
And the business model?
The entire Act2020 suite which consists of front end applications, extensive back-office and a rich dealer application comes at a flat monthly cost of $3,000 per month.
Again, very appealing and in the realm of possibility for startup brokers working on a tight budget.
Ashraf Ebid is CEO of Finstek LLC. He was formerly CEO of Poland-based FX broker EFIX Dom Maklerski, as well as CEO of GKFX Group based out of London. He also served as an Executive Vice Pesident at GFT. Mr. Ebid had the following to say:
Act2020 was designed to be most disruptive and powerful trading platform which will become an obvious choice for many brokers who are currently competing with the same exact platform which forbids them an opportunity to compete better and retain their clients much longer. Within 10 minutes you can start your own new FX, CFD’s and Binary Options broker or offer an alternative to your current existing trading platform to energize your sale and marketing efforts.
Ilya Sorokin, CEO of ActTrader Technologies Inc., added:
This is a great opportunity for small and mid size brokers to access the high end technology and functionality as the bigger brokers do. Flexible back office and a fully functional dealing desk with good risk management capabilities are instrumental in running a profitable brokerage business. ActTrader has been in the business of delivering highly reliable premium multi asset trading platforms to some of the biggest names in the online trading industry for the past 15 years.
ActTrader has previously provided technology and platforms to brokers such as AvaTrade, LMAX and FCStone.
The full press release can be seen here.