Exclusive FNG… FNG has learned that FX and CFD industry veteran Lea Wang has launched a new company offering advisory services for multi-asset brokers called 4XTC (on the website 4xtc.io).
Lea Wang, who is based in Cyprus, was EVP and COO of FX broker CRM and Affiliate Management Solutions PLUGIT for three years (2019-2022) and previously served as Head of Global Account Management for technology solutions and broker liquidity provider PrimeXM . where he worked for four years.
FNG is pleased to speak with Lea today about the new 4XTC venture, what brokers are doing well and what they need help with, and much more about what’s happening in the industry.
FNG: Hi Lea, and thank you for joining us today. Tell us a little more about your decision to create 4XTC and what you do.
Meadow: Hello, thanks for having me today, I appreciate this opportunity to shine a light on 4XTC.
4XTC, short for Forex Technology Consultancy, offers consulting services for multi-asset brokers worldwide, with a particular focus on financial technology. With our team, we help brokers operate and manage various technology systems. In addition, we have cultivated strong partnerships with a wide range of providers, meeting the diverse needs of the entire brokerage lifecycle. Therefore, we also help brokers identify the optimal solutions for their specific needs through our extensive network.
The launch of 4XTC was actually customer driven. Over the past decade of my career in the Financial Trading industry, both in Fintech and brokerage firms, I have constantly received inquiries and requests from clients, partners and colleagues to help manage their systems and bridge connections between providers and brokers. As the number of such requests continued to grow rapidly and required more in-depth involvement, with my technical partners emerging at the right time, we collectively decided to formalize this partnership into an official business, thus establishing 4XTC. So together, we started something new, leveraging our existing expertise in the field.
FNG: What types of services (and customers) will you focus on initially?
Meadow: Our clients are mainly multi-asset brokers from around the world, both start-ups and established entities. This may sound broad, but it is related to the nature of our business: we focus on two main types of services: administration and technical systems management (A&M) services, which are handled directly by our team of technology experts. and helping brokers find and partner with the best providers to suit other business needs through our extensive network of partners.
As for our A&M services, they are particularly popular with new brokers who do not have an established in-house team. In such cases, we act as their dedicated technology team, helping to configure and manage key technology systems, including trading platforms, bridge and execution engines, liquidity and order routing engines, risk systems and hosting environments. This significantly reduces their time-to-market and costs, ensuring a stable and accurate installation in the middle and back-office, allowing them to go live in days rather than months (from hiring, training new employees and actually ability to configure systems to deliver the expected Results).
Established brokers also use our A&M services, especially when launching new platforms and systems, such as different trading platforms, support trading platforms, social trading platforms and other plugins and tools. Since our technology team members have strong experience and knowledge of the key systems in the market, for established brokers, we act as an extended technology team alongside their in-house technology departments, guiding and assisting them in handling new launches, day-to-day monitoring and troubleshooting, adding additional security, efficiency and accuracy to settings.
In addition to our A&M services, clients come to us asking for help with licensing, banking and payment solutions, finding specific tools, and even buying and reselling companies. Through our connections, we identify providers on a case-by-case basis that best suit customer needs. We do not impose specific providers or force package solutions, we simply aim to give our clients the freedom to choose partners they feel comfortable working with in order to create healthy and long-term business relationships for all parties involved.
In terms of customer targeting departments, to be honest we haven’t done any marketing or cold selling so far, customers approach us either through previous acquaintance with us or through word of mouth referrals, probably for a relaxed, open and professional approach . We greatly appreciate and value this trust and hope to always provide good service and value to our customers. We value and deeply appreciate this trust, hope and aim to provide consistent excellent service to our customers.
FNG: From your perspective of having worked extensively on both the brokerage and B2B side of the business, what do FX/CFD brokers do well and what areas do they generally need to improve on? And how can 4XTC help in these areas?
Meadow: There are many excellent systems on the market capable of performing various functions. However, they are often complex and take considerable time to learn and set up. The harsh reality is that barriers to learning and operating limit their accessibility to only a small group within the industry. This prevents more brokers from taking advantage of these systems and slows down the spread of quality systems in the market.
From the broker’s side, they often face challenges in finding suitable providers due to factors such as language barriers, geographical distance or lack of information. It is unfortunate when good systems and providers cannot be widely used to create significant business value. This is where 4XTC steps in to create value for both providers and brokers.
By bridging the gap between the two parties, we help brokers find global providers that enhance their business value and save time and cost. Additionally, for systems that brokers cannot handle in-house, we not only help with setup but also provide ongoing management. In this way, we facilitate the sharing of knowledge to enable our broker clients to fully utilize the powerful features of these systems, achieve apparent lower risks and increased profitability. Most importantly, with our help offloading technology operational burdens, brokers can focus their efforts on customer acquisition, improving user experience and developing new marketing strategies to drive business growth.
FNG: What else can we expect to hear from 4XTC in the coming months?
Meadow: Mutual growth is at the core of what we care about at 4XTC. This applies to our company, our customers and our partners. We focus on looking after our team members well, ensuring that everyone can learn and grow within their roles as the company grows. We also work hard to provide our clients with ethical and transparent support, help them overcome operational challenges and act as a reliable backbone so they can run their businesses smoothly. Last but not least, we keep in mind that we always maintain our partnerships with different providers, fostering healthy relationships to support mutual growth.
In the coming months, we plan to steadily expand our team of like-minded individuals to serve our growing customer base while maintaining our high standards of service. Also, we always welcome new partnerships with various providers. This year we will participate in exhibitions in various countries and welcome everyone to contact, connect and meet us.
And finally, I would like to take this opportunity to express our gratitude to everyone who trusted us, supported us and worked with us. I would also like to thank the FX News Group team for the interview.