Called discountFX, the company is offering a rather unique, streamlined brokerage service.
discountFX’s website indicates that its fees will be $1.99 per round turn lot. Unlike some other firms, the brokerage has a minimum deposit of $500.
Like most other retail brokers, the firm is offering trading through the MetaTrader 4 Trading Platform.
The new brand has been designed with minimal setup. That means no call centers, no expensive offices, and a small operations team.
“We saw a gap in the market for a simple brokerage where people can just trade,” said Rifat Sayim, GBE Brokers’ chief executive officer. “So all of the fees, terms of service and products we’re offering, everything is laid out very clearly in one page.”
The purpose of this, it seems, is to offer a cheaper service - including zero spreads in some instances - to its client base.
And Sayim appears to be hoping that the client base for his firm’s new brand will be made up of experienced traders.
Experience wanted
“We want people who know what they are doing,” Sayim told Finance Magnates. “People that understand Forex and CFDs and who
just want to trade. By reducing office, marketing and support costs we can also offer these people a better, cheaper trading experience.”
With many brokers attempting to gear their services towards professional clients in the wake of the European Securities and Markets Authority’s product intervention measures, discountFX is a new effort at dealing with the market conditions those regulations have created.
A small set of operations and a simple website could mean the broker has found a way of reducing its own costs and attracting many retail traders who fit in something of a grey area.
Not fit to meet ESMA’s professional reclassification requirements, they nonetheless understand what they are doing and have more sophisticated demands than a novice trader.
discountFX could appeal to these people and, if it does, GBE Brokers may have found a neat way of dealing with tough market conditions.
Called discountFX, the company is offering a rather unique, streamlined brokerage service.
discountFX’s website indicates that its fees will be $1.99 per round turn lot. Unlike some other firms, the brokerage has a minimum deposit of $500.
Like most other retail brokers, the firm is offering trading through the MetaTrader 4 Trading Platform.
The new brand has been designed with minimal setup. That means no call centers, no expensive offices, and a small operations team.
“We saw a gap in the market for a simple brokerage where people can just trade,” said Rifat Sayim, GBE Brokers’ chief executive officer. “So all of the fees, terms of service and products we’re offering, everything is laid out very clearly in one page.”
The purpose of this, it seems, is to offer a cheaper service - including zero spreads in some instances - to its client base.
And Sayim appears to be hoping that the client base for his firm’s new brand will be made up of experienced traders.
Experience wanted
“We want people who know what they are doing,” Sayim told Finance Magnates. “People that understand Forex and CFDs and who
just want to trade. By reducing office, marketing and support costs we can also offer these people a better, cheaper trading experience.”
With many brokers attempting to gear their services towards professional clients in the wake of the European Securities and Markets Authority’s product intervention measures, discountFX is a new effort at dealing with the market conditions those regulations have created.
A small set of operations and a simple website could mean the broker has found a way of reducing its own costs and attracting many retail traders who fit in something of a grey area.
Not fit to meet ESMA’s professional reclassification requirements, they nonetheless understand what they are doing and have more sophisticated demands than a novice trader.
discountFX could appeal to these people and, if it does, GBE Brokers may have found a neat way of dealing with tough market conditions.
FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.
FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.
FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.
FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.
Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24
Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24
Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24
Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24
Finance Magnates Annual Awards 2024 | FM Awards 2024 Highlights
Finance Magnates Annual Awards 2024 | FM Awards 2024 Highlights
🎥Catch the best moments from the Finance Magnates Annual Awards Gala Dinner!
An evening where top names in finance came together to celebrate achievements, enjoy live music, and connect over a memorable dinner. Watch the highlights and feel the energy of our first gala in Cyprus!
Congratulations to all the winners for their dedication to excellence and leadership in the financial industry, including XM, Trading PRO, FP Markets, Deriv, FxPro, LATAM, Headway, ATFX, FBS, AMEGA, EC Markets, Axi
For more information about the 1st Finance Magnates Annual Awards, visit https://bit.ly/3Zb7wNz
#FinanceMagnatesGala #IndustryExcellence #GalaHighlights #FinanceMagnatesAnnualAwards #FinanceMagnatesAwards #CelebratingSuccess #FinanceCommunity
🎥Catch the best moments from the Finance Magnates Annual Awards Gala Dinner!
An evening where top names in finance came together to celebrate achievements, enjoy live music, and connect over a memorable dinner. Watch the highlights and feel the energy of our first gala in Cyprus!
Congratulations to all the winners for their dedication to excellence and leadership in the financial industry, including XM, Trading PRO, FP Markets, Deriv, FxPro, LATAM, Headway, ATFX, FBS, AMEGA, EC Markets, Axi
For more information about the 1st Finance Magnates Annual Awards, visit https://bit.ly/3Zb7wNz
#FinanceMagnatesGala #IndustryExcellence #GalaHighlights #FinanceMagnatesAnnualAwards #FinanceMagnatesAwards #CelebratingSuccess #FinanceCommunity
FMLS:24 | Shaping the Next Era of Financial Evolution
FMLS:24 | Shaping the Next Era of Financial Evolution
Welcome to FMLS:24 – the premier event where influential brands and leaders in trading, payments, fintech, and digital assets come together!
Join over 2,500 industry professionals, engage with 150+ expert speakers, and discover endless opportunities with 70+ top exhibitors. FMLS:24 is where senior executives and decision-makers gather to close deals, forge new partnerships, and strengthen connections with long-term clients.
Whether you’re in finance, technology, or payments, this summit is your gateway to future growth, meaningful collaborations, and industry-leading insights.
👉 Don't miss out – secure your ticket now at https://events.financemagnates.com/ZQEYy0?utm_source=youtube&utm_campaign=fmls24-awareness&utm_medium=video&RefId=MLS%3A24+Video+Promo
#fmls #fmls24 #fmevents #financemagnates #forex #payments #crypto #events #london #fintech #ai #generativeai #technology #onlinetrading #forex #investing #investors #tech
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
📸 Instagram: https://www.instagram.com/fmevents_official
🐦 Twitter: https://twitter.com/F_M_events
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▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official
Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Welcome to FMLS:24 – the premier event where influential brands and leaders in trading, payments, fintech, and digital assets come together!
Join over 2,500 industry professionals, engage with 150+ expert speakers, and discover endless opportunities with 70+ top exhibitors. FMLS:24 is where senior executives and decision-makers gather to close deals, forge new partnerships, and strengthen connections with long-term clients.
Whether you’re in finance, technology, or payments, this summit is your gateway to future growth, meaningful collaborations, and industry-leading insights.
👉 Don't miss out – secure your ticket now at https://events.financemagnates.com/ZQEYy0?utm_source=youtube&utm_campaign=fmls24-awareness&utm_medium=video&RefId=MLS%3A24+Video+Promo
#fmls #fmls24 #fmevents #financemagnates #forex #payments #crypto #events #london #fintech #ai #generativeai #technology #onlinetrading #forex #investing #investors #tech
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
📸 Instagram: https://www.instagram.com/fmevents_official
🐦 Twitter: https://twitter.com/F_M_events
🎥 TikTok: https://www.tiktok.com/@fmevents_official
▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official
Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!