An Interview Moneta Markets’ Founder David Bily

The industry has seen an eventful 2022 to date, with markets reacting to COVID calming down, and recent global conflict stoking volatility. We caught up with Moneta Markets’ founder David Bily to chat about the year so far and the broker’s latest developments.

Now that the dust is starting to settle from the impacts of COVID, what has 2022 seen thus far for Moneta Markets?

It has been an action-packed 2022 so far. Not only are we seeing big moves across a range of markets due to global events to date, but the team has been flat-out working behind the scenes to build on and improve our offering to clients and partners.

Our primary focus so far has been on further bolstering our technological infrastructure. This saw us move away from the Panda CRM and their web-based trading platform, to developing a custom-built CRM that offers us the flexibility to manage upgrades and new features internally. As a customer-driven brand, it’s important for us to keep ahead of our client’s expectations when it comes to our product offering, and this technological improvement allows us to have much more control of what we can deliver to our clients and partners.

How do you plan to fill the void for client’s who preferred to trade your web-based platform, as opposed to the traditional MetaTrader platforms?

It has always been important to us that we offer clients the best trading platforms. And, while the Panda platform was a great solution for web-based trading, it wasn’t without its limitations.

Based on the feedback of our clients and partners, traders wanted something that was much more comprehensive when it comes to charting. We had been in discussions with TradingView, whose charting is the best in the industry, and worked with them for several months to put together a complete solution for clients who want access to exceptional charting that they can also trade directly from.

TradingView has a huge user-base, and traders of all styles are familiar with its charting features and layout. By being able to offer our clients what is arguably the most popular web-based platform, and having it integrate seamlessly with their MT4 and MT5 accounts and platforms, we are able to cater to growing demand and provide an incredibly stable and user-friendly solution.

What have been the advantages of migrating your operations to an in-house solution?

As a relatively new broker, we have a very distinct advantage over our competitors, which is agility. We aren’t bogged down by red tape or the standard legacy systems and infrastructure like many longer-established brokers, so we are afforded with the ability to create a more seamless experience for our clients and partners. By shifting in-house we are able to develop products from scratch, exactly how we want them, which allows us to deliver a better solution than many off-the-shelf options.

One example of this is the development of our new IB Portal. Our network of IB Partners are a strong pillar of growth for us, so it is important that we give them the best platform to work with. Built from the ground up, our custom IB Portal is really one of a kind. It allows our IB Partners to gain complete oversight of their leads, clients, rebates, completely transparent reporting of every component of their business, and of course the calculation of rebates on every product we offer.

It also is built to help them expand and grow their business, we have created the portal so it can support up to 20 Sub IBs, which was a feature that there was increasing demand for. We work closely with all our partners, and the new and improved IB Portal is a result of the feedback we have received over time, and in my opinion we have created the best IB Portal that’s currently on the market.

In the two months since launching, we have already noticed a significant impact on deposits and trading volume, as well as our IB network with many new partners joining us from other brokers. And, I attribute much of that to us having developed the best platform for IBs. We will continue to evolve it based on ongoing technological developments, and of course the ongoing feedback provided by our IBs.

You can check out a fantastic new video that was produced to showcase the portal’s features here.

What is in the pipeline for the remainder of 2022

We are constantly engaging with our clients so that we can continue to ensure we meet and exceed their expectations when it comes to the products and services we offer.

Adding new features and updates to our Client Portal and IB Portal is a continuous process, and there is always room for improvement. So, that will keep us busy. We have also been actively introducing new instruments for traders, and now offer 30+ crypto products, new futures products, and share CFDs. We will not only continue to introduce new products based on client demand, but improve those products on an ongoing basis in the form of further tightening spreads and reducing commissions.

We recently introduced a zero-commission range of US Share CFDs, and will continue to expand on these. And, as our trading volume continues to increase, it puts us in a fortunate position to be able to negotiate better pricing from our liquidity providers, which we can then pass on to our clients.

We have a number of developments scheduled aimed at introducing a range of new features into our Client Portal. In the coming weeks we are due to launch our fully-integrated suite of trading tools, which include trading signals, AI Market Buzz, a range of MT4 and MT5 addons, all available in a client’s language of choice, as well as a range of educational resources all from within their Client Portal. Our job is not only to provide fast, easy and low cost market access, we need to give clients the tools they require to make better informed trading decisions, and we will continue to provide the resources to do so.

We are also acquiring additional licenses under Moneta Markets, and while this is a lengthy process it is an important one. It’s a continuous process of improving to stay ahead of the pack, we are dedicated to providing traders with the best trading environment in the market. Traders need the confidence that they are trading with a safe and secure broker, and this adds to their confidence that they are trading with a true market leader.

It sounds like there is quite a bit to look forward to over the coming months. Any final words you’d like to add?

It’s an exciting time for us as a broker, and for financial markets in general, with the broader economic environment being in a major transitional period. This will of course have implications on the brokerage industry as a whole and we expect volatility to increase, which for us tends to translate to more trading volume, so we want to make sure we can help clients to benefit from this increase in volatility. And, for our IBs and Affiliate partners, we are constantly working on how we can better support them and help them build their business, whether this is due to innovation, new technologies or product improvements.

We will continue to leverage our agility to focus on delivering what traders and partners want, and keep pushing the boundaries along the way to ensure we set ourselves apart from the competition.