Andrew Ishchuk, a well renowned name in the field of financial brokerage industry, known for his proactive approach and extra ordinary capabilities for getting the things done, have already led many international forex brokerage companies to the next level and helped them achieved the remarkable success with-in minimum possible time, have recently taken up the challenge to provided strategic direction and drive a vision of success for BelleoFX.
Mr. Andrew has been onboarded as the new Chief Executive Officer for the company, effective from July 2022. BelleoFX is a brand name of Belleo Markets licensed and regulated by the Financial Services Commission (FSC) of Mauritius, BelleoFX is a brand name of Belleo Markets (Mauritius), BelleoFX (SVG) and Belleo Markets - Rep.Office (UAE).
BelleoFX is focusing on the MENA, Asian and European Markets
Sitting in the heart of Dubai, BelleoFX is recognized as one of the rapidly growing forex brokers in the UAE. The company was launched in 2020 with a mission to develop innovative solutions while keeping pace with global market demands and making genuine profits possible for its clients, by providing them the power to enhance their investment goals with an open mind.
Speaking to Finance Magnates, Mr. Andrew said the focus of BelleoFX would initially be on the MENA region and then gradually will grow towards European markets, where it intends to have strong foothold before looking to other geographies.
“From now on the first priority is to capture our market share with-in this region and then from next year onwards we will start targeting European region. We are strategically located in Dubai the heart of MENA that’s why the first priority is to capture market share with-in this region.
We have already established strong presence in SEA market and from next year onwards we are planning to start targeting EU markets. Furthermore, we are focusing on B2B business model in parallel and have already brought couple of B2B clients along-with some white labels.” Mr. Andrew said.
BelleoFX’s participation in The Forex Expo Dubai 2022
BelleoFX have been awarded two times in recognition of products and services provided by the company as “Broker of the Year 2022” and “Best Growing Broker” at The Forex Expo Dubai 2022 which is one of the largest forex industry events in MENA region.
While speaking about this event to Mr. Andrew, he said, “We are delighted to receive not just one but two awards at The Forex Expo Dubai 2022 as "Broker of the Year 2022" and "Best Growing Broker". We are not stopping anywhere soon, as we believe that the reward for work well done is the opportunity to do more.
We are so grateful to our clients, business partners and team members to make it happen. I have a strong faith in team work, and I must say coming together is the beginning, staying together is progress, and working together is success.”
BelleoFX regulations and licenses
While talking to Mr. Andrew, we enquired if this was the company’s main objective to set up and start the business with Financial Services Commission (FSC) of Mauritius as an Investment Dealer (Broker).
He said, “The Financial Services Commission (FSC) was established in 2001 and operates within an internationally recognized legal framework under the Financial Services Act 2021.
The FSC licenses, regulates, monitors, and supervises the conduct of business activities for the companies working in financial service sector other than banking. This makes FSC a much better choice based on the code of conduct and the protection they provide to their clients.
FSC promotes public understanding on the financial system including but not limited to the awareness of benefits and risks associated with different kind of investments products. The FSC also takes appropriate measures for the protection of consumers of financial services in Mauritius."
"But in the future, we have plans to further enhance our regulatory position by applying for new European licenses primarily for our professional clients taking into consideration the latest MiFID II regulations."
How BelleoFX positions itself in the current market scenario
According to Mr. Andrew, “though there are many brokers in the Asian and MENA markets but still we have a huge vacuum for thoroughly regulated, reputable and competitive forex brokers, and that’s where we want to play a role by fill in this gap by providing unparallel products and services to our clients, to make sure that they feel confident while trading with us.
Now a days clients trade with increased leverage which allow them to make money faster but at the same time it’s increasing the risk. We have tools and technologies at place, which can help our clients minimize the trading risks and maximize their satisfaction, so they can trade with us for years to come, not just once.”
“We already have competitive advantage in our industry, we have a full scope in-house IT department where we create softwares, plugins and CRM along with the Client Portal which gives us a full control to optimize it as much as possible for our clients. Having said this, I want to mention that we want to evolve as a Fintech company and not just as a brokerage firm.
There are many brokers in the market including many white labels which are already using our technologies. We keep on enhancing the features, functionalities and capabilities of our in-house products to make it future proof. So everything under one roof is what we can offer to our clients, but most of the brokers can’t.
Apart from the most innovative technology which we have, our clients can also enjoy the spread from as low as 0.1pip, seamless execution that they can feel, variety of deposit methods and fast withdrawals etc” he continued.
“At present, BelleoFX offers 5000+ trading instruments with multi-asset classes including but not limited to forex, commodities, indices, metals, energies, cryptos and more. However, the company keeps on looking for options to further diversifying its offering.”
So what’s next for BelleoFX? What areas will the company focus on in the future?
“Our focus remains on our founding principles, like I said in the beginning we are a fully transparent company, we don’t want to leave any grey areas for our clients or any dissatisfactions what so ever, which is why we have monthly evaluation programs where the senior management get involved with the clients including myself in order to understand the level of satisfaction they have. We will continue to concentrate our efforts on providing our clients with the ideal conditions, instant executions, and withdrawals as well as mechanisms that protect our clients’ interests.”
Being an absolute online business, we heavily rely on digital platforms to communicate with our clients, as well as on digital marketing mediums to reach out to the new and potential clients. But, we never miss the chance to participate in offline opportunities, discussions, gatherings and events. Which gives us an opportunity to meet the clients & partners in real world and connect with them in a more natural way.
Choosing the right channels and the right approach to communicate with new and existing clients is utmost important. We at BelleoFX share some load to our support, satisfaction and retention departments so we can better take care of our clients and any queries they might have must get instant responses.
Thanks for sharing company insights and the vision. We wish you the continuous prosperity for you and your firm. Now at the end on a personal note I want to say sorry for what is happening in Ukraine, as we know you are a Ukrainian this must be interrupting your professional life and business process.
“Thank you very much for your support and having me with you today. Of course I don’t like whatever is happening in my home country. Moreover, I can’t believe that there is no justice in this world, we are facing very strong enemy and we are at our own. However we are a brave nation and I am still thankful for the friendly countries for their continuous support as without them we couldn’t make it until now.
From my side, I am living with this every day and helping my friends and family there in many ways. But as a professional I know my responsibilities and about the expectations my team have from me. So, I am doing my level best to lead my company from the front to achieve the best we can as I know that we have a long way to go. I am making sure that no external factors can sabotage my vision and company’s success.
