Phone: +61 3 9020 2175 | +61 3 9020 2175
Fax: +61 3 9866 4294 | +61 3 9866 4294
Level 1 ,499 St Kilda road
Interview with Stavro D’Amore
Interview with Stavro D’Amore
Please give us a brief introduction about yourself - What is your position? What is your professional background?
My name is Stavro D’Amore and I am currently the Chief Economist at FXTG. I have been involved in the markets for over 12 years, I write for many Forex blogs and have worked for many private banks and institutions like Bank of America and Merrill Lynch. As part of my role with the company, I regularly write educational material on fundamental and technical analysis, which are later distributed to our clients. In addition I often speak with clients and institutions discussing trading strategy as well as proper portfolio management and risk management techniques.
Who is your target audience?
We appeal to all individuals and institutions who wants to have a reliable regulated broker. People generally work hard for their money and this is a way for them to access the Forex market. It’s amazing how much profit can be made with very little effort in the Forex market. With the proper training, investors can produce great returns as long as correct risk and proper money management rules a met. It is really a great sensation to reap the benefits of additional income at the end of trading session. My team at FXTG will provide the Forex education needs you require.
Why should a trader choose YOU over another provider?
* We are regulated by ASIC in Australia since 2005, fund security is important these days and our main goal is to ensure that our clients’ funds are safe and segregated to any company funds.
* We offer traders as low as 1 pip fixed spreads, which will remain unchanged regardless of market conditions.
* We offer 1-1 coaching, weekly webinars and an experienced support team to help you with all your trading enquires and strategies
* For clients who prefer variable spreads, we offer an ECN account where traders can experience spreads that reach as low as 0.3 pips and sometimes I have seen the spread be even at 0.0, as well as market execution without re-quotes.
* We have high execution speeds on trades across 3 live servers and we offer amazingly precise quotes to the client over a special feed filter which provides price averages from approximately 20 different sources.
* There are over 180 symbols in our platform from Forex, CFD’s, commodities and Indices
* Auto trading: if you don’t have time to trade we have a list of over 200 traders to select from that can trade on your behalf with no management cost or performance fees applicable. We believe that simplicity is the key.
* We currently have protected accounts where we will cover all your losses for up to a period of 30 days. During that period we will refund all losses and you can keep all your profit.
* Our 24 hour dealing desk is made from market professionals, who are available 24 hours a day to accommodate each trader’s needs on an individual basis.
Please describe the trading platforms available to your clients?
* FXTG offers the world leading trading platform Metatrader 4 which allows for a complete trading tool for all levels of trading. Through this platform, a client can easily operate various indicators, scripts and expert advisors. In addition, it allows for the use of charts with different periodicities and the platform can be customised to fit each trader’s individual needs.
* There are times however, when a client is not by their PC and would like to log in to view their portfolio from another computer. Rather than having to download the MT4, the trader can log into the FXTG web trading platform (http://webtrade.fxtg.com/). The software is easily accessible and convenient for all, and execution speeds are just as fast.
* We are in a new age of advanced technology and FXTG is adapting to the wave of the future - Mobile Trading. Mobile Trading is the latest trend to engulf financial markets. This feature allows anyone to trade directly from a mobile device. The Forex market becomes readily available at any moment from the palm of your hand. Simply download the FXTG Mobile Trading application on your mobile device, login to your account, and begin trading within moments. Trading has never been so comfortable. We support iPhone, iPad, and Android applications.
What other services do you offer your customers to support their investment decisions and/or trading?
* Educating our clients is extremely important to us. We understand that individuals reach FXTG from all over the world and with varying levels of trading experience and market comprehension. Our goal is to increase our clients’ profitability, in order to ensure a long-term relationship. Clearly, this is easier to achieve when the trader is in profits rather than losses. Therefore, we provide our clients with many tools that can help make them better Forex traders at FXTG we offer live webinars that are led by the industry’s leading professionals. The webinars provide a deeper insight into the Foreign Exchange market for all levels of trading experience. In addition FXTG sends its clients a daily Technical analysis, in order to provide the trader with updated graphical breakdowns. Finally, on our website, there are many resources readily available to clients, where they can learn about the currency market, as well as do trend research. For those who feel they need personal trading assistance, one-on-one coaching can be offered, where the trader can focus on specific issues that are of interest to them. In addition, offline seminars are held around the world at the convenience of our clients.
* Customer service is the underlying theme at FXTG. We strive to give each client the most professional care possible, while attending their personal needs and goals. Our dealing room is available to all clients 24 hours a day, 6 days a week. At any time, a client may contact our professional and friendly dealing room staff, in order to obtain information regarding the status of an account, to open positions, or simply to discuss market conditions and trends. We offer customer care in many languages, in order to accommodate clients from around the world.
Walk us through opening an account with your company.
When a client would like to open an account, they can simply go to our website and click on ‘Open Account.’ This will take them to the following page: https://www.fxtg.com//downregform.php?
At the above webpage, the client will be asked to enter his personal information. Upon a successful registration, an email will automatically be sent to the client’s email address, in which the account details will be provided. The client will be contacted by a representative, who will welcome them to FXTG. In the event that any prospective client would like to receive information regarding promotions or trading conditions, they can request such information from the representative at the time of the call or contact us at any time at email@example.com
What advice do you have for someone who is just starting to trade the markets?
For those clients who have little to no experience in trading, I would recommend to understand risk management and basic money management rules. In addition if you become our client we can organise one of our education specialist to discuss this with you. Clients with little experience or clients who don’t have time to trade can elect to have Auto-trading, which allows a person to select from a list of Expert Advisors, based on their respective historical performance, thereby allowing for increased profitability without prior knowledge or experience.
What would you say are the most common mistakes traders make? What are some of the best trading practices to keep in mind?
Traders should be cautious not to leverage their portfolio to a risky degree. In other words, the exposure to the market should not endanger a high percentage of the funds in the account. Since FXTG provides leverage of up to 1:300 to its clients, there are many individuals who are tempted to use that opportunity to their advantage. While we encourage our clients to use the tools at their disposal to yield higher returns in their accounts, we do not recommend dangerously high exposure levels that place the entire equity at risk.
Moreover, with so many trading instruments available to our clients, including currencies, CFDs, Indices, and commodities clients should be looking to diversify their portfolios. It is never a good idea to “put all your eggs in one basket.” When doing so, a client puts their self at the mercy of that particular instrument and financial markets are known to often be unpredictable. Therefore, it would be best for a trader to find a myriad of options to trade with, so as to not be so dependent on any one facet of the market.
What’s your view on the economy? What are the implications on the currency, equity and commodity markets?
The economic spectrum is extremely complex and volatile at this time. The European debt saga involving Greece, Germany, Spain, Italy and Portugal continues to linger and the unstable conditions are hindering any possibility of recovery and growth. However, even during tumultuous times, there are substantial profits to be made. It is important for any trading strategy to recognise the fluctuations in risk appetite, in an effort to decipher potential profitable opportunities that may arise.
Perhaps the most discussed topic right now is the spike in energy prices that have been seen over the past few months. Political turmoil in the Middle East continues to mount, and a solution seems far from obtainable at this time.
Rising energy prices are extremely disconcerting, since the US economy finally began to show vital signs of improvement. US employment data have taken several important steps toward recovery over the past several months, evident through non-farm payrolls and a slowly deflating unemployment rate. However, the extra drain of higher oil prices on the pockets of the average consumer will surely slow down economic growth as residual income and consumer spending are certain to decrease as a result. In spite of the rise in energy prices, US sentiment remains on the incline, and equities continue to gain momentum as a result. Traders must always be focused on global economic trends, and follow the myriad of events that continue to impact market conditions. Studious traders are then able to yield highly profitable portfolios, when applying this knowledge in the market.
Where do you see FXTG in 2 years?
Our main objective is to be the World’s number 1 Forex provider and most professional and attractive Forex broker. FXTG continues to grow and develop into a strong market competitor, offering its clients extremely appealing trading conditions. In order to accommodate the needs of our clients, we have expanded our operations across the globe, allowing us to reach a much larger market base. We strive to provide the most accurate prices for our traders, as well as to implement new products and technological innovations.