2021 has been an explosive year for the financial services industry. Retail traders are flowing into markets at unprecedented rates, and market volatility has drawn global attention to the trading space.
A number of analysts believe that these trends will only continue to develop. As such, brokerages, exchanges and other financial service providers have been presented with a unique opportunity to build their businesses. The demand for retail trading services is so high that a number of new players are looking to enter the industry.
As a result, competition between exchanges, brokers and other financial service providers is tough, but the opportunities are vast. Therefore, creating financial platforms that offer cutting-edge services to end-users has never been more important.
Recently, Finance Magnates sat down with Ivan Navodnyy, the Product Manager of B2Broker’s B2Core solution. B2Core, previously known as 'Trader's Room', is a comprehensive, turnkey service offering that allows its clients to open brokerage platforms in a matter of weeks.
Finance Magnates · FMTV: How to Become a Market Leader with B2Core
The following is an excerpt of a webinar that took place and has been edited for clarity and length. To see and hear the full conversation with B2Broker’s Ivan Navodnyy, visit us on Soundcloud or Youtube. This is a sponsored piece.
What Is B2Broker?
Ivan explained that B2Broker’s mission is to “build financial businesses” for its clients. “We have more than 200 employees that are continuously working on a number of different projects that are basically creating turnkey, stand-alone solutions.”
Additionally, “we have our own liquidity pool that is known as one of the deepest and best on the market. We also have our own cryptocurrency payment provider; tons of Cryptocurrencies and stablecoins can be processed through that.”
B2Broker also offers “its own customer relationship management (CRM) tool for clients,” as well as a money-management system. “B2Broker has many in-house products that give our clients the opportunity to take care of developing a vision of your business: we provide the software you need [to make it happen] as a ‘pack’,” or a package-based offering.
For example, “let’s say that you want to become a broker,” Ivan said. If you start from scratch, “you would need to find the developers that are going to build you the trading platforms software that your end-users will be interacting with, as well as a payment processor and a CRM, and many other things,” Ivan explained.
"Your Whole Business Can Be Set up within a Matter of Weeks.”
However, hiring independent developers to build an independent platform is an expensive endeavor. “You would also need to find liquidity providers,” Ivan explained. Determining which liquidity provider offers the best prices and services suited to your business is another challenge in and of itself. “Where do you take the best prices from?” Ivan asked.
“You want to be competitive,” Ivan continued. “You want your traders to feel like your platform is the best place to trade and make their money. Ultimately, that’s the most important piece.”
“There are so many other pieces that come into building your own financial business,” he explained. “That’s where B2Broker comes in, and where our clients benefit, with us, you don’t need to independently develop a trading platform. All of the software is taken care of, and all of the different aspects of the software work together seamlessly in B2Broker’s turnkey solutions.”
“You’ll be provided with the best solutions to control and monitor everything that happens on the platform,” he said. “You don’t need to worry about the IT (information technology) side of things. You can focus on marketing and growing your business.”
Ivan also explained that if you were to build a platform independently, “you would be spending months, even a year working to build the whole financial system. However, with B2Broker’s B2Core solution, you will have access to your platform within a few days, your whole business can be set up within a matter of weeks.”
B2Core Is B2Broker's Turnkey CRM Solution
Ivan explained that: “in a nutshell, B2Core is all about giving the end-users a space where they can control all of their activities: the onboarding of end-users is fully supported by B2Core.” The B2Core that is available on the market today is the third version of the product.
He added that the platform is fully customizable, starting with the registration and login screens: “our clients can choose what fields of information they want to collect from the end-users.”
“We want to make everything as customizable as possible,” he continued. Once end-users get past the login screen, they will have access to their personal ‘Dashboards'. B2Core clients can customize the text and features that their users will see on their Dashboards.
Further, end-users have the option to customize their dashboards: “you can move and resize the widgets on the dashboard, so that each end-user is choosing how they want to see the layout of the information on the dashboard.”
In addition, “The ‘wallets’ are fully customizable,” Ivan continued. “As a forex broker, you may want to offer only fiat, or you may wish to offer only cryptocurrency as a crypto broker, which is a trend right now,” Ivan said. “It’s very flexible: for example, you can offer crypto wallets where clients will be able to deposit their funds and open trading accounts with cryptocurrency as well.”
Ivan added that: “B2Core also has a good amount of trading platform integrations,” including integrations with MetaTrader and oneZero.
B2Core Has Integration Capabilities with More Than 50 Payment Processors
Moreover, B2core offers a currency conversion service. “For clients who want to offer their end-users the ability to change USD to EUR, or USD to USDC, we offer that as well. You can easily convert one currency into another.”
Ivan stated that: “B2Core has over 50 payment system integrations at the moment,” adding that “the list will soon be made publicly available.”
“So, for example, if you want your Payments to be processed through PayPal, it will only take a matter of five or six clicks to configure it in the Admin panel. You can choose the providers that you want the payments to go through.”
Ivan explained that through these payment processor integrations, “B2Core allows our clients to onboard end-users instantly...You can process payments right from the start.”
Security Is a Top Priority
Furthermore, the B2Core platform has been equipped with comprehensive security features. “Of course, security is a top priority for us,” Ivan said. “Not just in terms of end-user activities, in the admin panel, there are additional features, including anti-fraud tools.”
What does this look like on a practical level? “There is a huge section of events where you can configure a set of ‘triggers,’ so that if something is happening that is potentially dangerous for the system, it will alert the administrator.”
“For example, the system will send an administrator an email that could say something like, ‘Trader A was using the same IP address as Trader B for the past week, or Trade X was using the same withdrawal wallet as Trader Y.”
In this way, “the system keeps you up-to-date with what’s happening on the platform,” Ivan said. As such, if you have a large brokerage service with hundreds of thousands of users, “there is no need to have a dealing department of a thousand people monitoring your clients by hand. B2Core can automate that process.”
"It’s about the People Who Are Working behind the Scenes on b2core,”
In addition to the wide range of features that B2Core has to offer its clients, Ivan explained that there are a number of other factors that set B2Core apart from its competition.
“First of all, it’s about the people who are working behind the scenes on B2Core,” Ivan said. There is an extensive team of developers, as well as “quality assurance people” and the “marketing team that is in charge of notifying clients of updates.”
“It’s all about the people around, because we are excited and inspired to be doing the work that we’re doing,” he said. “Every two weeks, we deploy new features. The ‘turnkey approach’ guides our internal operations to make B2Core as transparent, as informative, and as UX-friendly as possible.”
Ivan went on to explain that the development team behind B2Core has a “constant-improvement” approach: “what has been released on one day will already be in discussions on how to improve it during the next day,” he said.
A Unique, 'Pack-Based' Approach to Service Offerings
Ivan explained that B2Core is available to clients through a unique, 'pack-based' approach. “We have three packs: Basic, Advanced, and Enterpise,” Ivan explained.
“Basic includes all the necessary features: all the payment system integrations, the currency converter, the trading platforms, the identity verification processes, everything. This is the least expensive option,” Ivan explained.
The 'Advanced' Pack has all of the features that the Basic pack has with a few additional features: for example, “you as the broker can invite your users to become ‘partners’ and earn money by inviting other traders onto the platform.” This sort of affiliate program can greatly cut down on marketing costs.
“Quite a few KYC integrations” are available in the Advanced Pack, which “allow our clients to process documents.” Further, the Enterprise pack has a unique set of features that are listed on the B2Core website.
“We Are Growing Every Day"
Ivan added that even though less than two months have passed since the beginning of 2021, it has already been a big year for B2Core.
“We are growing every day, we are constantly hiring,” he said. “There’s no stopping for us right now, right after the new year holidays, we released the B2Core mobile application under the B2Broker brand.”
“That’s a huge milestone for us because that’s another point of giving our clients a truly ‘turnkey’ solution. Now, when our clients purchase B2core, they will have access to both the desktop and mobile versions of B2Core.” This is important because “end-users are not always in front of their computers, but they still need quick access to the platform.”
Currently, B2Broker is “planning to roll out branded client mobile applications,” Ivan said. “In a matter of weeks, we will start to give the mobile application to our existing clients as well as to our new clients.”
B2Broker has recently launched a documentation project. “We now have a huge back-office guide,” he said. “Previously, our education model was centered around the relationship between the account manager and the client. Now, we are concentrated on giving our clients a tool that will allow them to find quick answers to all of their questions.” This back-office guide is available in the administration panel.
What is next for B2Broker? “For 2021, we have big goals: we have reworked our product strategy, we have rebuilt our roadmaps. We are planning to make it all transparent and public so that everyone can check on where we are heading, and what we are doing. Stay tuned!”
The following is an excerpt of a webinar that took place and has been edited for clarity and length. To see and hear the full conversation with B2Broker’s Ivan Navodnyy, visit us on Soundcloud or Youtube. This is a sponsored piece.
