A new company just surfaced in the CFDs market with the intention of aiding retail brokers in optimizing their performance. The Founder is an industry veteran with over 15 years of experience, having steered several renowned trading brands in the past.

Finance Magnates spoke with Victor Zachariades, the Founder of the BKR44, about his vision for collaborating with brokers and helping them increase their business potential. We asked Zachariades what new firms should focus on, what tools it offers partners, and how BKR44's dealing desk support team works on a daily basis.

What Is BKR44?

BKR44 is a Cypriot firm that officially launched last month, offering retail brokers advisory and administration services, dealing desk, and risk management support. The originator revealed, however, that the adventure in this business began "much earlier." The soft launch of BKR44 took place last year, which allowed the service package and client network to develop.

Zachariades explained that the name combines the "BKR" abbreviation, reflecting the brokerage industry, with "44," a master number in numerology symbolizing regeneration and building. Thus, BKR44 aims to assist brokers in constructing a more robust business.

"We want brokers to focus their resources on their core strengths – assisting sales, marketing , and business development teams in growing their businesses," Zachariades remarked. "Our service ensures that the trading platform is reliable and secure, which builds user trust and attracts more clientele."

The firm aims to "bridge the gap" between new players and established brokers. Zachariades believes newcomers initially face significant obstacles.

The Challenging Process of Building Trust among Traders

According to Zachariades, the main difficulties for new CFD brokers include establishing credibility, handling large trading volumes, and possessing financial technology expertise in a highly competitive and consolidated market. However, he emphasizes the lack of experience in building trust as a new brand among retail clients as the most critical issue.

"As newcomers in the market, establishing trust with retail traders can be a challenging task. Their experience may also not be equipped to handle high volumes, leading to inefficiencies and potential client dissatisfaction. Furthermore, they might lack in-depth knowledge of technology tools that optimize trading operations," BKR44's Founder explained.

BKR44 "understands these challenges" and offers a suite of services designed to confront them. The company guides the brokers from platform setup and initial administration to handle large trading volumes. It additionally provides trading desk support to resolve any real-time issues and risk management around financial market volatility.

"By providing these tailored services, we help newer brokers overcome their unique obstacles and compete on an equal footing with established brokers," Zachariades added.

As the firm's website indicates, BKR44 supports trading companies using platforms like MetaTrader, cTrader, and XValley. And services of this type are becoming increasingly popular. Just two months ago, Jean-Rapheal Nahas left the neobank, BUX, to create his own fintech advisory firm called 357 Group.

The market further operates many entities offering new brokers complete white-label solutions, such as B2Broker, Fxview, Spotware, Deriv Group and many others. They have been offering comprehensive solutions for years to individuals and entities that want to start a brokerage firm from scratch. Therefore, the competition awaiting BKR44 could be significant.

Working 24 Hours a Day, 5 Days a Week

We asked Zachariades about a typical day for BKR44's dealing desk and risk management support. The firm has been working closely with individual brokers, remaining available 24/5 when trading platforms and major CFD markets are open. Although 24/5 availability is normal in CFDs, BKR44 aims to stand out not just by adhering to industry standards but by offering a personalized approach to each client.

For instance, Zachariades describes a situation when one client faced significant risk exposure due to a sudden market shift.

"Our dealing desk support proactively spotted the discrepancy, alerted the client, and provided feasible risk mitigation strategies. This real-time assistance not only saved the client from potential losses but also reinforced their confidence in our services," explained Zachariades.

For risk management, the firm monitors book exposures and provides real-time insights to inform decisions. Additionally, BKR44 utilizes hedging strategies to counterbalance risk and protect from market volatility .

"Our support includes margin monitoring, which ensures our clients do not overextend their risk, and real-time alerts to notify clients of potential high-impact scenarios," Zachariades added. He emphasized that each client has a different risk tolerance level, which must be accommodated.

From Working for Brokers to Supporting Brokers at BKR44

Zachariades has been involved in the FX and CFD industry since 2008, which accounts for over 15 years of experience. During this time, he has worked with TFI Markets, FxPro, Libertex, and Pepperstone. On top of that, he spent a year helping to build the stock and crypto platform Alpaca, and since October 2023, he has taken a seat on the Board of the GO Markets.

He acknowledges that his experience in executive positions with major brokerage firms has allowed him to understand the business from the inside. Now, he aims to use the knowledge he has acquired in his own business that supports retail trading companies.

"We want to enable our clients to focus on what they do best – providing excellent service to their customers," stated Zachariades.

"Diverse Range of Brokers" Around the Globe

When asked which companies BKR44 has partnered with so far and the approximate number of clients, we did not receive a concrete answer. Zachariades only said that the company works with "a diverse range of brokers, including some high growth success stories."

But, how could a company that has officially been operating for a month already help brokers achieve success? The founder explained that this is thanks to an earlier soft launch a year ago.

Although BKR44 officially sailed into market waters last month, it has been offering its services for a lot longer, "setting up brokers for many years now." As he revealed, BKR44's collaborations are not limited only to companies based in Cyprus, where the firm is headquartered, but also extend to other parts of the world.

"In terms of numbers, while we can't disclose specific figures, we can confirm that we're currently catering to a number of brokers around the globe and continuously expanding our reach," Zachariades explained.

There is indeed a market demand for the services provided by BKR44. At a time when the CFD industry is consolidating, new and smaller brokers encounter considerable difficulties in establishing their market position and acquiring the necessary resources.

"I believe there is a good demand for our services, and it will grow as time goes by," concluded Zachariades.