Tom Higgins is founder and CEO of Gold-i with experience in financial technology spanning over 25 years. With an in-depth knowledge of the trading technology industry, Tom set up Gold-i in 2008 after spotting a gap in the market to enhance the FX trading process for retail brokers. As the inspiration and driving force behind Gold-i, Tom has played a major role in disrupting the retail FX market, giving opportunities to brokers across the globe and has now extended the firm’s focus to the institutional market, using his market insight to continue to drive innovation.
Get to know Gold-i's Visual Edge
Why take unnecessary risks?
How do you monitor your risk now?
Risk is the name of the game in FX. However, when smartly managed, it can mean the difference between big profits or big losses.
In our latest Q&A, learn how the pandemic has impacted brokers relationship to risk and delve into the history and recent enhancements of our leading business intelligence and risk management tool with Tom Higgins, CEO and Misha Kipnis, VP of Visual Edge.
Why is it even more important now for retail FX brokers of all sizes to manage their risk?
Tom: The amplified volatility and trading volumes over the past 12 months amid the pandemic have proven, even more so than before, just how intricate, and crucial risk management has become to FX brokers and the industry.
Due to Covid-19, many team members are no longer all ‘housed’ within the same office or have the expertise to build their in-house risk management technology. Spreadsheets, no matter how complex they are, do not provide real-time information – they take time to manually update. Therefore, sharing close to real-time trading and client activity data and having easy to access insightful dashboards is becoming increasingly important for brokers and managers worldwide.
I cannot stress enough that with the increased use of automated trading strategies by clients, for FX brokers operating using a hybrid business model, it is paramount to have access to a real-time execution technology that can smartly track toxic activity, using risk analytics.
We have gone into more depth on the main business benefits of investing in a business intelligence software, including having a greater understanding of your risk and exposure, the ability to optimise profits and a simple way to meet regulatory report requirements.
What is the story behind Visual Edge and can you describe the recent enhancements?
Misha: Tom and I have known each other since working on the implementation of electronic trading for the International Petroleum Exchange (IPE) back in the early 90s and became good friends. Since then, Tom started Gold-i and I setup Corellasoft, specialising in Advanced Visual Analytics for financial service companies.
One day, we met for a coffee in the West End of London and realised that there is a great synergy between our two companies. Gold-i had and still has a great reputation in providing solutions to brokers. What brokers did not have at the time was a live in-depth analysis of their exposure risk, profit and monitoring of client trades, which Corellasoft could certainly solve. So, after 8 months of integration work, the first version of Gold-i Visual Edge was launched.
Tom: The initial reaction of the broker community was very positive, we had a few early adopters who are still loyal users today, 6 years later. Since then, the product evolved mainly in response to client requests and suggestions broadening into a highly sophisticated visual application. Some of the main enhancements include:
- MT5 integration
- Improved scalpers detection and analysis
- Added detection of abnormal trades
- CRM Integration
- More in-depth analysis
- Improved GUI speed and usability
- Enhancements to improve flexibility and performance
- Added Rules system for alerting
Visual Edge is the optimal business intelligence tool that helps brokers to manage their risk, maximise the efficiency of their operations and increase profitability. No two brokers are the same, therefore we enhanced Visual Edge’s functionality to allow for extensive configurability, built similarly to a Lego set, to provide brokers with deeper levels of personalisation.
What makes Visual Edge better than other offerings?
Tom: Visual Edge is brilliant as it’s an agnostic risk monitoring platform which can be adapted and customised for a customer’s individual needs, at an affordable price point.
We know from feedback from our customers that our GUI is above and beyond the rest for its user-friendliness compared to other competitors, which is incredibly important when navigating and ensuring that you are making full use of such a complex solution.
Why did you decide to create Visual Edge Lite?
Misha: Recently we launched Visual Edge Lite, a sleek, simple to set up and use dashboard including some of the most popular functions of its parent product. We could see how much value Visual Edge was creating for our clients, whilst gaining increasing interest from brokers worldwide. Therefore, we saw an opportunity to expand access to brokers of all sizes and budgets to allow those with a restricted budget to gain access to a premium product at an attractive price point.
One of our first Visual Edge Lite clients wanted to enhance their White Label offering and differentiate themselves from other competitors in the market by adding a risk management solution. Importantly, the solution had to be very easy to use and set-up, therefore we worked closely with the team to build a stripped back version that included only high-value feature requirements. Visual Edge Lite gives our client’s greater oversight on key metrics such as their client activity, profit, and loss as well as client trends in real-time.
What are the main differences between Visual Edge and Visual Edge Lite?
Misha: Visual Edge Lite provides a more limited, non-customisable data set, with a sophisticated but simplified display. Being web-based, typically, it only takes a few hours to set up as it does not require much client involvement because there is no customisation involved, allowing brokers to get valuable insight sooner. The below shows more on the functionality differences.
Do you have any future plans for Visual Edge?
Misha: There are some exciting features in the pipeline! Firstly, improved security, which is always important to keep as a continuing priority. Also, we are focusing on enhancing the client analysis workbook to ensure it is as sophisticated as possible.
Gold-i's Visual Edge or Visual Edge Lite help brokers, investment banks, hedge funds and other financial firms to understand the essence of data that drives their business.
For more information about or to request a demo contact us today and we would be delighted to discuss with you.