What local TFB clients can tell us about MENA trends today

Author: Vahab Hasiri

Vahab Hasiri, the Head of Business Development MENA, recently travelled to Dubai to meet with TFB clients and learn more about their goals, focus, and experience with our solutions.

Below are the thoughts that Vahab has shared about what he observed.

Working in an international environment creates many opportunities and challenges. Maintaining close relationships with clients and partners can be tricky due to cultural differences and communication styles.

Many people prefer in person interactions and getting to know their counterparts face-to-face. That's why we at TFB often travel to different countries to meet with our clients and partners to receive their feedback about our products and services.

On such trips, we receive valuable insight and updates about the market and the industry, learn how our products improve clients’ businesses, and get to know their future strategies in order to help us to adapt and adjust our plans as well.

Top TFB solutions among MENA clients

The choice of solutions varies widely between different companies. One of the most popular products is the Trade Processor liquidity bridge, alongside the Group Exact Copier and Credit Management in the Middle Eastern market.

Trade Processor provides seamless execution of orders alongside the opportunity to manage risks and increase profit. The interface is very user-friendly, so it is easy to operate.

Another popular product in this region and any company that works with Muslim clients is the Sharia Account plugin which allows brokers to provide swap-free trading for a certain period of time.

Essential aspects for MENA brokers

Stability and reliability of products are the most crucial factor for every company.

In the financial market, every issue can be costly for brokers and damage their reputation, so having a stable technology is necessary.

Products are expected to be easy to use because training and onboarding many people in the company can be a time-consuming process that can be avoided with the right products, accompanied by comprehensive user guides and how-to videos.

Fast and responsive support is another point that is crucial for many companies. They expect to be able to resolve their issues and have their questions answered as quickly as possible.

What local clients are looking for

Requirements and expectations vary largely depending on the company's size.

• Large companies are looking for a reliable technology partner and stable products to maintain the quality of their setup while reducing the cost.

• Medium-size companies need to expand their business by offering more instruments to clients and changing their offerings such as spread, commission, and markup to grab more market share in their region. Again, stability is vital, and having a sound risk management system and fast execution of orders can assist them significantly.

• Start-up companies seek an experienced technology partner who listens to them and understands their needs. Such technology partners should be able to assist them every step of the way. At this stage, having a reliable bridge/gateway is a must to guarantee stability on the technology side.

A peek into the future

Almost every company we met on our last trip mentioned crypto as the industry's future and noted a high demand for crypto trading among investors. So naturally, brokers are trying to create more crypto-friendly offerings for their clients.

In addition to crypto, stock trading is very popular in the Middle East, and the demand is growing for such instruments.

At the same time, many companies' main offerings remain focused on gold, oil, and FX instruments.