News Release
Benzinga Sits Down With The Founder Of One Of The World’s Fastest Growing Brokerages To Discuss Company’s Vision, Roadblocks, Milestones Hit And Outlook
Moneta Markets
By Jad Malaeb, Benzinga Benzinga spoke with David Bily, the Founder and CEO of Moneta Markets, to get behind the story of one of the world’s fastest-growing brokerages. After over a decade within the finance sector, Bily found that most brokerages had become too bureaucratic to meet the needs of traders. Below, he tells Benzinga how it all started. Q: Where did the idea for Moneta come from? A: ”In an industry where there are several giants who have resisted evolving with technology and customer demand, I wanted to make superior trading technologies accessible to more people and help them achieve their financial goals with confidence. This requires agility, which older and more established incumbents lack due to the many layers of red tape. It's this ‘red tape’ that presented a significant gap in the market and hence an opportunity for me to build a broker from the ground up that can rapidly respond to an ever-evolving industry and clients' ongoing requirements. Moneta shuns legacy technology and dated industry standards.” Q: How did the vision for Moneta change as the industry grew? A: “I had initially envisioned Moneta Markets as a pure web-based brokerage. The plan was to create an all-in-one trading platform, client portal, and onboarding package so users could access global markets with ease. However, as the business grew, so did the demand from clients for access to MT4 and MT5. While it was quite a surprise, it was evident that the Metaquotes platforms aren't going away anytime soon, so it was vital to cater to this demand. Our vision for Moneta Markets is constantly evolving to focus on things like new technological innovations and how we can improve customer-centricity on an ongoing basis. We realized that to stay competitive and continue providing value to our clients, we needed to constantly improve our technology and services. We also became more committed to educating our clients about trading and investing, helping them make informed decisions based on their own goals and risk tolerance.” Q: What differentiates Moneta from other brokerages? A: “First, we are responsive to the needs and feedback of our network of clients and partners. A lot of effort also goes into the way we communicate with our clients. As a global brand, it's important for Moneta to communicate with clients in their language. Our website, emails, and 24/7 customer service are available in the primary languages of the regions that we operate in. Our effort to incorporate multiple languages into our customer service experience has been a key contributor to creating brand loyalty. Second, we dedicate our resources to improving what we offer, such as adding products to trade and reducing costs by cutting our spreads and commissions. For example, we have recently removed all commissions on our range of US Share CFDs. Third, we offer some of the highest-quality infrastructure and technology for traders. A robust infrastructure behind the scenes delivers true value to clients, so we dedicate resources to ensure we can provide the best prices and lowest latency to clients. We achieve this by setting up data centers and trade servers in strategic locations, using top-tier liquidity providers, and improving the way liquidity providers communicate with platforms.” Q: Have you faced any unexpected speedbumps as the brand’s founder? A: “It's an ongoing process to optimize and keep improving our platforms, which is not without its difficulties, but we have a great team dedicated to ensuring that we are at the forefront. Our increasing client base solidifies that we are delivering value through technology, and I want that to continue well into the future. Another more recent issue was when MetaQuotes, for whatever reason, pulled their MT4 and MT5 apps from the Apple App Store. In a world where people are always on the go, access to a portable trading solution is imperative, and MetaQuotes' removal from the App Store essentially pulled the rug out from under our feet at the time. However, it also provided the catalyst to bring forward the development of our own trading app, which in turn was a blessing in disguise. While the MT4 and MT5 apps are now back on the App Store, I believe launching our new AppTrader will set a new standard for mobile trading.” Q: How has the company grown since its inception? A: “While there was some initial trial and error, we have really started to gain traction in the industry. In fact, we recently hit a major milestone reaching and surpassing 100 employees with offices around the world, putting us at the medium-sized enterprise level, which is something I’m very proud to have achieved in such a short period of time. Moneta Markets has also experienced strong growth in user numbers and trading volume recently. We've expanded our offerings to include new products, and robust trading platforms, in fact, our web-based Pro Trader platform now integrates seamlessly with both MT4 and MT5, and we are constantly striving to improve our trading conditions. We have recently deployed several new Data Centres in key locations worldwide, upgraded our MetaTrader 4 servers, and are in the process of launching a new MetaTrader 5 server. We put a lot of emphasis on partnering with the right people and companies, who are instrumental in supporting our growth. Our customer satisfaction ratings have also remained consistently high, which we believe is a testament to our commitment to quality service and the key to building a trusted reputation.” Q: What do the next 12-24 months look like for Moneta Markets? A: “We see the Middle Eastern region as a key market for future growth, so we are in the process of setting up an office in Dubai, which is expected to be ready within the next month or two. We have also been experiencing strong growth in the Latin American regions, and are setting up multiple offices there within the next quarter, too. In the next 12-24 months, we plan to continue expanding our product offerings and investing in our technology to improve the trading experience for our clients. We are excited about the launch of AppTrader, our custom-built mobile trading app, which should be on the market within the next couple of weeks. It’s been a huge project for us, but we have a fantastic team of UX professionals and developers who have worked tirelessly to assemble what we think will be a new benchmark for mobile trading. We are also in the process of rolling out our education portal which features a library of how-tos, financial news, live educational sessions, and more, to empower traders to make better decisions and improve their trading outcomes. We will continue to work around the clock to do what it takes to capture market share, with the ultimate goal of building Moneta into a brand with an industry-wide reputation for excellence.” Check out Moneta Markets to learn how this rising brokerage could serve trading needs. Moneta Markets offers its clients a wide range of trading options, including over 1000 Forex pairs, Indices, Commodities, Share CFDs, ETFs, Bonds, and Crypto CFDs, all of which can be traded on the powerful MT4, MT5, and the next-generation PRO Trader platforms, across both STP and ECN accounts. All Moneta Markets’ clients can enjoy up to 1000:1 leverage and some of the industry's lowest spreads, starting from 0.0 pips on their Prime ECN and Ultra ECN trading accounts. With multiple licenses, a broad selection of trading products and platforms, and numerous educational resources and trading tools, Moneta Markets is highly recommended for traders of all levels, from novice traders to professional traders and money managers. Contact Details Moneta Markets partnerships@monetamarkets.com
May 12, 2023 09:15 AM Eastern Daylight Time
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