Based on personal examples and a positive mindset, he shares his vision on how TopFX can make a difference in the MENA region, providing first-class support to clients & partners.
Q1: Hi Omar, you have been the MENA Regional Manager since July 2021. Can you tell us about your vision & what you would like to offer traders in the region？
My vision is to create a new paradigm for trading services in the MENA region where traders not only get what they need to trade efficiently but are also offered extra tools to help them succeed. TopFX provides liquidity services to institutional clients for over a decade; we have served hedge funds, retail brokers and proprietary trading firms. For that reason, we are able to offer our clients top-grade trading conditions, true multi-asset trading across 600+ instruments and the ability to trade on leading-edge platforms such as cTrader. Besides the quality of our offering, we are a very efficient and dedicated team. We always strive to provide the best customer support and improve any areas that require further development.
In the MENA region, traders are very accustomed to being presented with new trading services. We see how brokers promise “the best conditions” through their marketing efforts which aim to please the audience and make them convert. However, we are not all words, our aim is to walk the talk and set a new standard that will be difficult to compete with. Starting from the moment clients come to our website to registration, then the KYC process, learning, and trading. Also, the open-door policy between us and our administration is a game-changer that contributed to our expansion & success.
Q2: Which countries have you targeted so far and what is your plan for the future？
I know very well that the seeds of today are the fruits of tomorrow. I dont intend to exclude any country. We have started developing the GCC region to strengthen our presence in the area, and recently established our new representative office in Dubai, UAE! Our office is located on the 29th floor of Burlington tower. TopFX has a large audience from those countries and we are planning to further penetrate these markets.
In Lebanon, Palestine and Jordan, we have partnered with well-known educational academies to improve traders experience and skill in the field.
Also, we are in the process of enhancing our payment solutions in the rest of the MENA region, to make deposits and withdrawals easier.
I am confident that 2022 will be a pivotal year and that our hard work will pay off. Our ongoing achievements and improvements will rocket-fuel our teams growth and enhance our competitive presence.
Q3: The Forex market is highly competitive. How does TopFX stand out in the MENA region compared to other brokers？
Our motto “broker of brokers since 2010” reflects our expertise in liquidity and our identity as an institutional broker who has helped other brokers succeed through the years. Who doesnt know TopFX？ I personally have heard a lot about TopFX since 2014 (as a liquidity provider at that time). Our somewhat delayed entry into the Middle East does not exclude us from the competitive game; on the contrary, we possess the maturity required to comprehend a complex market.
Most of our clients today are professionals and veterans in trading, and their reason for choosing us is the unparalleled trading conditions we provide.
We have a complete trading ecosystem in place that can help traders succeed. I believe TopFX will be one of the best brokers and compete as the “best broker” globally, not just in the Middle East.
Q4: Can you tell us a bit more about how the MENA market has expanded since you took over？
Before last year, the Middle East was not a priority to TopFX, so when I was assigned to the role, I was very optimistic, but the difficulties and challenges exist. On one hand, TopFX is a well-known liquidity provider with a big brand in the liquidity sector, but on the other hand, we didn‘t promote in that area earlier, so basically, we didn’t have a lot of audience in the Arabic region.
As I mentioned above, we have recently established our new representative office in Dubai, UAE, which we view as the perfect opportunity to expand our presence in the region. TopFX has started building a considerable audience from those countries and we are planning to propel further development.
At TopFX, we believe in education and want to give a fair experience to our clients. For that reason, we have strategically partnered with Educational academies in Palestine, Jordan and Lebanon and Turkey to provide extensive educational tools and materials to our clients.
Also, we are improving operational aspects of the business for Iraq, Egypt, Algeria Morocco and Tunisia and we aim to keep doing so for the whole of 2022.
I am delighted that our good relationship with our partners and clients helped us introduce TopFX as a trustworthy broker in the region. We carefully examined all the challenges and took into consideration all the steps, starting from the registration on our website, to ensure a smooth client onboarding and overall trading experience.
5: TopFX has been a Liquidity Provider for more than a decade. How does that impact the quality of trading that clients can get？
Being a liquidity provider is the basis of our expertise. We provide some of the best spreads and trading conditions of the market, and super-fast, reliable execution, a fact that can be verified by many of our clients.
Besides our low pricing and sharp execution, we have a wide range of instruments that clients can trade. We offer over 60+ Forex Pairs, 500 Share CFDs, Indices, Energies, Metals, Crypto CFDs and even ETFs. Therefore, a big part of our success comes from our strong roots in the industry and institutional products.
Q6: Can you tell us about the partnership opportunities TopFX offers (IB program)？ What can partners expect in the MENA region？ How do you support their success？
We know very well that our partners are the core of our success journey. That is why we try to support them to the best of our ability because their success is our success. We also benefited from the gap that our competitors couldnt fill with their partners. We built a strong relationship with all our partners in the region and they know very well that having us as their trusted broker will bring more business.
We want to enable partners to keep their clients satisfied and for that reason, we always value transparency, flexibility and excellent service. TopFX offers one of the most competitive IB programs in the MENA region enabling IBs to fully customize their rebate schemes. On top of that, we offer daily and instant commissions/payments to all our partners for maximum freedom and efficiency. Due to our continued commitment for improvement, we have now managed to expand in more countries in the MENA region and will keep doing so until more markets are locally served.
Q7: What is an ongoing issue for traders in the MENA region that TopFX can solve？
The open-door system with our management and team is the cornerstone and main reason for our success. We have resolved many problems that other brokers miss and we strive to achieve more. In particular, we have resolved:
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Lack of communication: We have managed to create communication channels all over social media ( Facebook, Twitter, Instagram, Telegram, Email, Livechat, WhatsApp)
We have announced recently our new Whatsapp number that is dedicated to assisting all our clients in the MENA region.
Also, we are committed to responding efficiently to our clients inquiries whenever clients need us;90% of our call back requests are done within 1 hour only.
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Slow onboarding: From my experience, a lot of clients complained about the complicated and time-consuming KYC process. We have addressed this issue by having a dedicated Arabic team that assists our clients and partners and ensures a fast KYC process with an average of 2 hours from the moment clients upload their documents.
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Payment options: We provide various payment options to the MENA region including Perfect Money, Crypto and voucher cards payments besides regular banking payments. Also we are working to provide move options that will make the deposit and the withdrawal process even easier.
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Low variety of assets: At TopFX, traders can choose between 600+ assets to trade including FX, Energies, Metals, Indices, Shares and Cryptocurrencies and ETFs.
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Extensive education: We provide weekly educational webinars to all our clients with 0 fees. They are 100% free and anyone who speaks Arabic can participate and learn.
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