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Screenshot of a breaking news alert e-mail from Q2 2017
Education is becoming an important facet with regard to engaging clients, and in established markets such as the Far East, Europe and Australia, many retail traders are now becoming familiar with continual video tutorials, and webinars.
The interactive age has now followed, with videos now available via social media, as exemplified by Saxo Bank’s introduction today of #SaxoStrats which is streamed directly to customers via Twitter Inc (NYSE:TWTR).
In such populous markets with regard to the concentration of traders and focus of FX brokerages, this level of competition is unsurprising, however how about Latin America? An entire continent which has growing economies and young, willing potential traders, yet is largely untapped by the retail FX industry.
LeapRate today spoke to Daniel Ruiz, CEO of Tutores-FX, who candidly states that education on a detailed level is key.
Daniel, we have started to hear more about the presence of Tutores-FX, particularly in Latin America. Let’s detail a few important aspects of the company’s ethos.
Andrew, first of all I would like to thanks Leaprate and specially you for the opportunity of this interview. I am a trader since more than 15 years and in my past experience on the trading side in Latin America, I realized that compared to USA, Europe and Asia we had a lack of information and education.
The access to a world’s first class information, statistics, market tendency was not available in my region. I realized that like me many other traders and especially new traders are and will suffer from this. At this moment I decided to create Tutores-fx as a gateway and opportunity for all those traders and people that want to know more about this market, so Tutores-fx was founded on 2008 in Lima Peru.
7 years have passed since inception, and we have built a network of 52,000 followers so far, all around Latin America and Spain. We provide online courses and virtual classes to our subscribers with over 70 traders and professionals to educate them. We conduct approximately 300 online webinars yearly about FX, Stock, Options, CFDs,ETFs, and other financial instruments. I work with the majority of the brokerage houses in Latin America as well as those overseas that are looking to enter this market.
Our mission and vision is to provide education and information of the financial market to the Latin America market.
What does Tutores-FX contribute to the Latin American electronic trading industry?
Our main goal is to work on education. We understand the risks and volatility of this market and we would like to ensure that new traders are aware of these factors and consider them when it comes to choosing a place a trade.
I spoke in February after the FXIC conference in Mexico, and indeed, Andrew, I concurred with your synopsis of the market following your attendance at FXIC. I attended with Luis Sanchez, CEO of BMFN and a further colleague, and covered the importance of generating the concept of education within this region. We believe that this is the responsibility of the brokerages first, however Tutores-FX is playing a similar and intensive roles in this field.
Investors deserve to be taught and to be provide with top quality information and news about this market. We live today in a global environment, and so rapid has been the progression that nothing resembles the commercial landscape of 7 years ago, and the immediate future will bring further rapid changes.
For this reason we believe that Tutores-FX must play an important role to provide world top information of the industry, which is a MUST for the Latin America region. In Latin America, we are ready to move forward and start reading and listening what is going on in the FX in a world-wide perspective
Commencing in May, www.tutores-fx.com will feature daily video news in Spanish, provided by LeapRate, providing important current affairs from within the FX industry. We know that LeapRate is a pioneer with regard to video news in this industry and that now this aspect has become further developed with industry specific talk shows and televised interviews, we will deliver these in Spanish, as well as looking toward conducting televised media in house.
What is the Latin America potential and what is new for 2015?
I see a huge potential. Just 3 years ago, I had 5,000 subscribers, today I have more than 55,000 members. There are some remarkable countries in Latin America where you can easily see a trend with regard to trading, and the rapid increase of this market.
The nations which I specifically cite with regard to this are Peru, Mexico, Chile and Colombia. Every day we have more retail customers interested in operating within this market and looking for education and information on what brokers they should chose with whom to open an account and the trading conditions which brokers offer.
Customers also want to know what is happening outside Latin America, especially in Europe and Asia, and this is where televised news from LeapRate will help them to have a global view of the FX industry.
I have worked with almost 30 brokers in this past and present years, from local ones to foreign ones which include BMFN, Swissquotes, Saxo Bank, Markets.com, HotForex.
We also collaborate with IBs such as Financial FX in Lima Peru. It has been a great experience to see the different strategy and points of view which each company provides. My aim is to help the retail end user to be more knowledgeable and to help the brokers to show how they can contribute. It’s our job to deliver transparent and reliable information to our subscribers.
What is next?
We are talking to Luis Sanchez, CEO of BMFN to help us and contribute his vast experience on driving the Latin American Market to the next generation, creating new venues and channels of education, and information but specially innovation. Not just webinars but presence in the form of seminars in all of Latin America. We also wish to penetrate universities to help them to teach FX courses as part of their curriculum.