Exclusive FNG interview… Following our exclusive report earlier this week that FX industry marketing executive Elena Kupriianova has joined Spotware Systems as the new Chief Marketing Officer of trading platform developer cTrader, we are pleased to follow this up with a detailed discussion with Elena .
How did Elena find herself on Spotware?
What is it like to move “across” from working in brokerage (Exness, Capital.com, CFI) to the business side of technology providers?
How is the recent upheaval in the trading firm space affecting brokerage technology providers and Spotware/cTrader in particular?
We discuss these topics and more with Elena, exclusively on FNG. Read on…
FNG: Hi Elena, and thanks for joining us today. First off, congratulations on your new appointment as CMO of Spotware! Can you share with us and our readers how you ended up with Spotware.
Elena: Hi, and thanks for having me. I am excited to be a part of this exciting endeavor and I am confident that my six years of experience in this industry has led me to this opportunity. Over the course of my career, I’ve noticed that the loudest voices in the industry are often the brokers, not the technology providers, which has resulted in many industry-defining technologies going unnoticed. Brokers often succeed in marketing by competing to be the loudest voice, even if the conditions they offer are similar to others.
As a tech enthusiast, I have often been disappointed that many great products have not been discovered due to the creators’ lack of promotion or marketing expertise within the team. When I learned about the Spotware team and their dedication to excellence and quality, I was excited by their innovative and revolutionary technology. I am very excited to join this team and leverage my skills to spread the word about their disruptive technology to as many people as possible.
FNG: The trading platform space seems to have been shaken up lately by what is happening in parallel in the prop trading sector. How did Spotware respond? Has it affected the overall usage and uptake of cTrader?
Elena: Recently there has been significant trading activity, which has affected the trading platform landscape. Spotware has proactively responded to these changes by creating strategic partnerships and strengthening its product offerings. For example, integration with support giants like Funding Pips and FTMO confirms that recent improvements have made cTrader more attractive to both proprietary trading firms and brokers by offering advanced charting tools and API integrations.
Spotware has always been at the forefront of the industry when it comes to technology and innovation. We are actively developing many trading solutions, including products designed to effectively establish, monitor and regulate challenge rules for prop trading companies.
Proprietary commercial companies often face challenges when using most platforms, as they must purchase and configure many third-party tools and software. This can lead to unmanageable costs, as well as unstable and low-quality solutions. We present an all-in-one solution that will be able to provide support for various withdrawal calculations and will be able to integrate seamlessly with external systems, including a support company’s CRM.
FNG: Most of your experience to date has been in business brokerage, at Exness, Capital.com and most recently at CFI. How does your role change as you move to the technology provider side of the industry?
Elena: Moving from the brokerage side to a technology provider like Spotware is an exciting and strategic career move. It represents a shift in my focus from being primarily involved in direct customer interactions to a more significant role where I can leverage my extensive experience to improve a platform that serves many brokers and partners and millions of traders worldwide.
As a former broker-dealer, I know first-hand how to operate in an over-inflated market with intense competition. I understand that marketers are not always the most loyal people and huge budgets are required to acquire and retain them through various channels. However, my previous experience has enhanced my expertise in B2B marketing, where I will be more hands-on, working closely with sales and customer success teams to drive results.
I specialize in improving key areas of B2B marketing, including owned media, branding, social media management that adds value for clients, and media relationships and partnerships to accurately represent products and platforms. B2B marketing requires a long-term approach, where we prioritize building high-quality relationships and maintaining Spotware’s reputation as a group of innovative and honest technology enthusiasts.
In my new role, I am excited to influence product development and marketing strategies from a more fundamental level. This will ensure that the technologies being developed are tailored to meet the evolving needs of merchants, partners and brokers. Overall, I am confident that my expertise will allow me to ensure that the word about Spotware’s technologies reaches the right eyes and ears.
FNG: From your perspective, having worked in senior roles at some of the largest and most successful online brokerages in the world, what do brokers do well – and not so well – especially when it comes to technology? How do you see Spotware helping to address some of these issues?
Elena: In my experience, I have observed that large online brokers are good at acquiring clients and navigating regulatory hurdles, but often struggle to adapt to new technologies and integrate them into their platform. It is unfortunate to see that some trading platforms have not yet taken advantage of modern trading technologies that could greatly improve the user experience and ensure a stable platform for their users. As part of Spotware, my primary goal is to bridge these gaps by ensuring that our technologies are not only cutting edge in functionality but also in ease of integration and user experience.
Many brokers make the mistake of investing resources in developing platform technology, which may not be their main area of expertise. What they don’t realize is that cTrader immediately gives them access to a new segment of traders who would not trade with the broker without cTrader, regardless of the circumstances. As a result, their marketing efforts can be somewhat futile.
Instead of focusing on developing trading technology, brokers should prioritize providing the best trading conditions and partnering with platforms that allow traders and partners to take full advantage of these conditions, as cTrader does. Some brokers believe that they can innovate in trading technology without sufficient experience and knowledge, thereby wasting time and resources developing tools that may not be useful. Therefore, it is important that brokers focus on their core business, which is brokerage, and use cTrader to reach new audiences and trading volume heights.
In terms of communication, brokers can tailor their approach to either partners or traders, depending on the maturity of the market in which they operate. In this regard, cTrader stands out by offering a rich set of partner tools and resources, such as cTrader Invite and cTrader Copy, the largest set on the market in fact, which can be beneficial to brokers seeking to strengthen their partnerships .
FNG: I’m sure there’s still a lot of work to be done, but in the beginning where do you see the most opportunities for Spotware and the cTrader brand? Where will you focus your energies in the coming months?
Elena: As we move forward, my primary goal is to ensure that cTrader’s impressive features are highlighted across all of our proprietary channels. We also want to generate more press and social media buzz and attention by promoting the benefits of our trading platform. Additionally, we believe our partners could benefit from cTrader even more than they currently realize, so we will work to educate them about the capabilities of our platform.
In order to maintain our position as a leader in commercial technology, we seek to expand our market reach through strategic partnerships. We want to offer a wider range of customized trading solutions and advanced analytics capabilities to our clients. At the same time, we are excited to explore more integrations that improve the user experience and address specific broker needs. We believe this will help us continue to provide the best possible service to our customers.
In addition to all this, we are currently developing new features that will be of particular interest to trading companies. These features will be designed to help these companies achieve their goals and improve their bottom line. Overall, we are confident that by continuing to focus on these key areas, we will be able to take cTrader to even greater heights in the future.
FNG: What else can we expect to hear from Spotware in the near future?
Elena: Spotware will continue to advance its trading technology by introducing updates and new features that meet the needs of both traders and brokers. The company is committed to focusing on algorithmic tools, automation and improving the user experience. Spotware will also expand its API capabilities, enabling better customer customization and integration options.
Additionally, Spotware is excited to announce a massive release that will shape the next decade of trading. While I can’t reveal much, the upcoming release is expected to be a game changer and I can’t wait to share more details with you.