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Prime brokerage TopFX recently promoted Omar Al-Janabi to the role of global head of sales and business development.
After a successful tenure in the broker’s UAE business, he moved into the newly created position. This expanded responsibilities greatly enhanced his oversight of the company.
Omar has been instrumental in leading TopFX’s efforts to secure its new presence in Dubai as it seeks to focus on providing customisable liquidity solutions to the region’s diverse clients.
In a recent interview, Omar discussed the many cutting-edge advancements in the company’s product suite. He also highlighted the innovations and new products TopFX has launched since joining the company as Regional Manager in July 2021.
First, Omar noted that he landed at TopFX at a time when the company was expanding its offerings into retail trading.
“I see this as an opportunity because our management has a clear understanding of what they want to achieve and how they want to differentiate themselves compared to their competitors,” he said.
While Omar’s role was initially focused on penetrating the MENA region, the infrastructure he built within the MENA team proved “very effective” and led to his recent promotion.
“Since last year, TopFX has experienced tremendous growth in both deposits and generation across all regions.”
Talking about his mission to grow the BD team globally and what was the biggest challenge in doing so, Omar explained that it was convincing candidates to choose TopFX over a competitor and reaffirming their confidence in what they could achieve.
“Agents can often make unrealistic demands on offering unlimited commissions and a perfect work environment. Unfortunately, candidates end up finding the reality is very different from what they imagined. They have lost trust, or simply abandoned their dreams .”
“I read recently that over 75% of applicants research the company’s reputation as an employer before submitting their resume. I think this part is an advantage because TopFX has a great reputation.”
TopFX goes further into retail
The retail FX space has historically been a crowded and diverse market, but it is still interesting to see how players in the industry can differentiate themselves or meet customer needs. And, more importantly, the regulations have changed dramatically, opening up a new path for the retail trading industry with more protections for clients and stricter rules for brokers.
Omar elaborated on this, talking about how TopFX has enhanced its retail-focused solutions to minimize spreads and enable partners to create customizable rebate programs. Most importantly, he highlights how 12 years of experience as a liquidity and technology provider gives brokers a competitive edge in customizing trades and offering unparalleled trading conditions.
“We started out as an institutional broker and offered our services to many other brokers before opening our doors to retail traders. We have been in this industry since 2010 and our team members have been with the firm for over 10 years.”
Rather than hiding behind a large company that invests heavily in marketing hoping to get people to find them, TopFX is trying to add value to their potential clients early on.
“At TopFX, we understand the needs of global investors very well and we strive to provide best-in-class conditions for all. We improve existing markets by listening to our clients’ needs and communicating their information transparently to our top management. We Our mission is to expand our global team and continue to recruit talent remotely around the world,” he added.
With that said, Omar shares his thoughts on how attending a trade show can sound like a cost-effective way to build a business. He added that TopFX plans to participate in many world-class fairs in many regions around the world.
“In addition, we plan to attend as many expos and business events as possible, hold workshops and meet with our customers and partners to shake hands and build positive working relationships.”
Meanwhile, Omar explained the company’s approach to attracting top talent pools amid a fierce competition for good candidates.
As he puts it, “Our corporate culture encourages our teams and departments to collaborate in a competitive environment. When hiring, we focus on finding the right talent and onboarding rising stars; I like to use the word ‘galactic battleship’ to express my interest in us Trust in the potential of the employees and the opportunities offered by TopFX.”
what it takes to stand out
Despite cementing a leading position in a crowded industry, many brokers face the same problems that plague their competitors. Difficulty breaking into new markets has also prompted many companies to look for alternatives.
Omar explains what exactly makes their product stand out among existing and new brokers entering the market.
First, he acknowledges that the industry has become quite saturated and overcompetitive, while grappling with tighter regulations. But he believes there is always room for any vendor to differentiate his product from the crowd.
Beyond education, Omar says, to be successful, any broker needs to build trust with clients by offering world-class trade execution, pricing and customer service. Financial literacy is also extremely important these days, so having the right tools, resources and knowledge of market dynamics is more important than ever, he continued.
Consumer expectations and needs continue to change and evolve as new segments of the market become aware of their financial situation and begin to make their own investment decisions, especially those of first-time investors. If they want to remain competitive, then they also have a responsibility as a business to change and evolve their products and services, and adjust the way they interact with consumers.
“We focus on all markets equally and seek partners and educational institutes to work on a global scale. Considering that young traders are showing interest in the forex market and that forex trading is more convenient through mobile applications, we have added New features such as push notifications optimize the TopFX cTrader mobile platform. Of course, we also offer many other tools, such as signals from well-known providers Trading Central and AutoChartist.”
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