Must-have solutions for UK brokers

Author: Albina Zhdanova

With over 12 years in the market, Tools for Brokers has worked with clients and partners across diverse markets. And we are always curious about the nuances and details of our client base around the world.

Internally, we often look at dashboards and statistics for insights, and recently, we’ve launched a series of articles that share what our clients use the most in various locations.

Today, it’s time to share the top four solutions that our clients in the UK enjoy the most.

Tip: Please remember that the various solutions we discuss today might be subject to regulations where you’re based. Make sure you check with local authorities first to ensure full compliance.

What makes the UK market unique? The key points

Before we dive deep into the top products that local clients use and love, let’s first identify the key differentiators of the market that make it a unique environment. Local brokerages, hedge funds, and prop trading companies have their own rules, traditions, and ways of operating.

A well-established regulatory environment

FCA, or the Financial Conduct Authority, oversees all financial services in the country and enforces strict rules and penalties designed to keep the market safe for all participants.

As the UK clients are regulated, they must collect, store, and send data to the regulators. Additionally, traders have the right to request details on their transactions at any time. This means that every brokerage has to have a streamlined monitoring and reporting system that enables them to stay compliant with as little managerial overhead as possible.

Tip: We have a detailed report in our Trade Processor liquidity bridge that shows precisely how much time each counterpart took to execute the order and how the order was distributed when brokers used aggregated liquidity.

Gateway to international markets

While Brexit has caused some changes in how things work on that front, the UK is still one of the best countries to set up a business if you want exposure to international markets. The infrastructure is excellent, with a growing pool of talent and a wide variety of financial service companies ready to meet any need that a broker, hedge fund, or prop trader might have. Additionally, the UK is in a convenient time zone for working with both the APAC and North and South American regions.  

The top products in the UK

Now that we understand how the United Kingdom’s financial market is different let’s go through the solutions that TFB clients refer to most often when they build or upgrade their businesses.

#1 Trade Processor

It shouldn’t surprise you that the number one product (pretty much in all markets) is the Trade Processor liquidity bridge. The bridge is the heart and soul of the brokerage. It powers all operations, ensures security, and offloads tasks from the brokers’ shoulders through automation.

Trade Processor is a solution that keeps getting better as time goes on. At TFB, we work hard to keep it relevant and efficient; that’s why the backend is constantly enhanced, and our clients also get great new functionality, such as multiplatform support and synthetic symbols.

The Trade Processor currently supports MetaTrader, cTrader, and Match-Trader, plus anything else that can be connected through APIs. Such variety and flexibility of platform support reduce risks and create a more balanced portfolio for brokers. Synthetic symbols are another way for brokers to expand their offering to traders through unique pairs, therefore standing out from the competition and boosting their clients’ loyalty.

#2 Copy Trading plugin

The Copy Trading plugin is another hit among UK brokerages and hedge funds. The functionality that it provides is very sought-after and popular among traders.

The plugin copies trades from multiple source accounts to single or multiple target accounts. It also enables brokers to choose copying conditions and can make them by equity, percentage, or reverse direction. With control over what is copied and when, brokers gain more confidence and understanding of the process.

#3 TFB PAMM

We believe that TFB PAMM is so popular because it’s an excellent tool to expand your services portfolio and attract a new audience.

TFB PAMM’s operating principle is percentage profit distribution. It attracts experienced traders (Money Managers) and Investors who are not comfortable with trading on their own but want to reap the benefits of the financial market. The solution provides a platform for both and facilitates the trading process in a mutually beneficial format. Inexperienced traders don’t feel left out, and Money Managers can showcase their expertise and make a living from it.

#4 Swap changer

Last but not least, the Swap Changer application automates operations with swaps and helps brokers free up a significant amount of their time. The app automatically uploads swap values of all selected symbols. It can be applied to specific groups or all users. The solution can be installed on any PC, which makes it even more convenient and safe.

Final thoughts

The solutions we talked about today are absolute hits among TFB clients. Still, many brokerages, hedge funds, and prop trading companies we work with in the region use other tools that didn’t make it into this article.

Companies operating in the same market are bound to have similarities, but each remains unique no matter what. Whenever you think about the solutions stack for your business, it’s best to chat with a trusted technology provider who can evaluate your situation and offer the best custom advice. TFB clients often come to us with such questions, and you are welcome to reach out to us, too.