State your name, company name and position please:
John Gordon, NordFX leading financial advisor
Describe your company with three words:
Reliability, reliability and, once more, reliability. And, if possible, two more words – professionalism and innovation.
Please go into detail about the Company, its market segment and recent developments:
NordFX has been working in the Forex market since 2008. Our priorities are providing traders with the best tools and conditions for Forex trading as well as offering the most up-to-date trading platforms and software so that our customers could access their accounts, analyse markets and make transactions anywhere anytime. Currently we are serving clients – individual and corporate – from over 100 countries. First of all, our efforts are focused on the rapidly developing countries of the Eastern Hemisphere such as Southeast Asia and a number of former Soviet states, primarily Russia and Ukraine where we have established company representation. We are also actively promoting our services in Spanish- and Portuguese-speaking countries as well as in the Arab world.
What expertise have you personally brought to the Forex Industry?
Actually, it wouldn’t talk about what I’ve personally contributed to such a large industry as Forex. There are hundreds, even thousands of people who have far greater authority than I do. I can mention, though, what I’ve done for our company.
You could say that I am a hereditary broker – my grandfather worked on Wall Street. Indeed, I have spent a considerable period of my life there, obtaining inimitable experience. I have also worked in London and Southeast Asia where I consistently studied (and improved as much as I could) various techniques for multistage hedging and risk management. Now I am seeking to bring everything I know and can do to the benefit of NordFX clients.
Why should retail traders choose your company over any other?
Yet again, I won’t boast and say that we are better than the other companies that have been on the market for a long time. No, we're similar to them. However, what distinguishes NordFX is its focus on reliability and stability. We would never let ourselves carry out any PR programs or change any trading conditions if they, even in the long term, could somehow destabilise our position or negatively affect our clients’ interests. And we do have a lot of clients – currently there are approximately 900,000 active accounts in our company.
Back to your question, I’d say you don’t necessarily have to choose our company OVER any other. But you could full well choose it ALONGSIDE other companies. As the saying goes, you should never put all your eggs in the same basket. So, let one of those “baskets” be NordFX.
Why should recent graduates or people looking for work on Forex aim to find a job in your company?
We are always open to talented, creative and innovative individuals and are happy to provide them with support on their career path in the Forex market. One of the best options for young people is to join our affiliate programme and try hand simultaneously as a Forex specialist, a marketing manager and an independent entrepreneur.
What are your company’s plans for the next two years?
Naturally, we will continue expanding the spectrum of our services and improving on their quality. In particular, we’re planning to add new trading products, improve trading conditions, connect new liquidity providers and further develop social trading. A separate direction is constant extension of the company’s geographic reach.
What are your predictions for the coming years for Forex in general?
Forex, I believe, is a type of commerce that will continue to develop both in times of stagnation, or even crisis, and in periods of economic boom. Let me elaborate on this. I don’t know if this is news to anyone but the more difficult the economic situation in a country or a region is, the more Forex traders emerge there. I won’t name specific countries, but just ask yourself – where could engineers, IT specialists, economists and even school maths teachers turn to during a crisis when they end up with an extremely small income or no job at all? Of course, to Forex, since they all have a computer with Internet connection, quite a high intellectual level and a certain amount, even if not large, of money which they would like to multiply to be able to support their families. Our goal is to help them with that.
Obviously, this may place some technical and financial strain on us as it is much easier to serve ten big clients than a hundred thousand smaller ones, but, if you wish, this is where our social responsibility lies. We give people the opportunity to get back on their feet and have confidence in tomorrow.
What about countries with growing economies?
We’ve recently conducted a study and found that the number of people involved in Forex trading in countries with the most rapidly developing economies, namely in the BRICS countries, is almost twice as high as that in the G7 countries – the ratio is 62.6% to 37.4%. Russia and China are far ahead of everyone else. The number of traders from China alone is almost equal to the number of traders in all the G7 countries combined!
The ratio of private investors, who have entrusted traders with managing their private funds, is very similar – 63.3% from BRICS to 36.7% from the G7 nations. The numbers speak for themselves. By the way, many of these figures are drawn from Forex Magnates reports.
So do you read our quarterly reports?
We do not merely read them, we study them very carefully and find them extremely useful.
What innovations could benefit the industry as a whole?
I feel this is a continuation of the question on the prospects for Forex. I am confident that our industry will evolve at the same rate as the computer technology industry.
Forex has become accessible to every private investor and trader 24 hours a day only thanks to the development of the Internet. Then came mobile platforms, and it became possible to make transactions by simply taking your phone out of the pocket. Then, social networks of traders came to be. Not to mention automatic trading systems that are entirely based on the latest advances in computer technology. Thus, it is safe to say that Forex is one of the most highly developed technological industries around.
Is branding important? What is your corporate view on it?
Branding and recognition of a company are certainly important, and we pay due attention to these aspects. However, this is where we are also very conservative. As of old, it is known that a good name means the world to a person. In the past, a duel might have been called for insulting someone’s name. We, of course, won’t fight with swords. We just do our best to make sure there is never, ever any doubt about the integrity of the NordFX name.
Do you think that Forex is transparent enough and that most companies are paying enough attention to due diligence?
I feel that additional regulation would not do any harm but would only benefit everyone. The more transparent the activities of broker companies are, the more our clients can trust us, which is extremely important for the finance business.
What is your opinion on the phenomenon of Forex social networks? Is this a good direction for business development, or is it fraught with potential dangers?
I personally and our company as a whole not only think very positively of this segment of the market but try to develop it as much as possible. Currently, in our plethora of services we offer three major social networks that allow any investor to take advantage of trading signals provided by other traders around the world. These networks are Currensee, ZuluTrade and MQL5 Signals.
But, in all honesty, this segment is still fairly new and needs a lot of work. It is particularly important to help a trader select truly high-quality signals. Although they may not bring too much profit this very second, this profit will be stable over many years.
In my opinion, advertising a trading system that yields hundreds of percent of profit per month would only discredit us as professionals as we all know this "trade" will sooner or later ruin the investor.
To allow us to get to know you a bit better, please let us know what interests you, and what you enjoy doing in your spare time.
In my spare time, I like to learn as much as possible about what is happening in the world… of Forex.
Forex Magnates Directory would like to thank you for an excellent interview and for giving us a great insight into both your product and business and also for sharing some of your personal interests.
Thank you,
Bjorn Enqvist
Head of Directory
Forex Magnates