FNG Exclusive Interview… Following our exclusive report from early last month that longtime FX and CFDs industry senior executive Lubomir (Lubo) Kaneti was leaving the brokerage side of the business (after more than 20 years!) to help launch a new B2B brand serving the industry called SparkMarkets, we’re pleased to speak today to Lubo – about moving “across the street” to the tech & service provider side of the business, his plans for SparkMarkets, and lots more.

FNG: Hi Lubo, thanks for joining us today. Please tell us a little more about your decision, after 20 years in senior management at FX and CFD brokers, to head to the “other side of the street” and help launch a new B2B tech-for-brokers brand, SparkMarkets.

Lubo: Hi, thank you for having me here today! Technology and markets have been closely intertwined since the dawn of the internet age. In my experience running brokerage operations and developing new markets, our success always hinged on our tech capabilities.

Today, with so much technology available, it is challenging to choose the right one for your business. The ideal tech should offer an edge, scalability, reliability, and security.

With 20 years of operational and client-focused experience, I understand clients’ unique challenges, and we excel at meeting those needs.

FNG: While a new brand, we understand that SparkMarkets is based on the tech of xCritical, which has been around for a while. What changes have you made, either in the tech itself or your approach (marketing, customer service, etc.), as SparkMarkets?

Lubo: xCritical has been an early innovator in the trading technology sector, forming part of a large international technology group that supports businesses across various industries. Leveraging the expertise of our team and the capabilities of SparkMarkets, we aim to elevate our technology and Software as a Service (SaaS) offerings. While many of our products are built specifically for serving brokers and marketplaces, we have technology that can enhance any e-commerce business.

Our portfolio of trading and business management products has been under development for the past 20 years, serving numerous rapidly growing brands. Previously, our service offerings focused on Eastern Europe, the Commonwealth of Independent States, and the Middle East. At SparkMarkets, we continue to innovate. We have expanded our product suite and are extending our reach globally.

Our platforms are available in 18 languages, with more coming. We prioritize client service and support, recognizing that real-time trading requires immediate, real-time expert assistance.

FNG: How do you see SparkMarkets competing in what is already a very competitive broker-platform-and-tech environment? What areas do you plan to focus on, at least initially?

Lubo: SparkMarkets isn’t just another trading platform; we’re a comprehensive technology provider for brokers and marketplaces. Our technology meets every operational need, setting us apart in the industry. We embrace competition, having invested heavily to ensure our products meet today’s challenging business demands.

Trading platforms should evolve beyond the basic interfaces of the early 2000s. Our platform is designed for advanced traders with the necessary features while remaining intuitive and engaging for all experience levels. This accessibility boosts conversion rates, trading volumes, and re-deposit rates, making our platform desirable for brands at any stage.

Competition among individual product providers, such as trading platforms, copy trading solutions, and liquidity aggregation systems, is intense. However, Brokers often need help integrating and operating products from multiple providers. That’s why we’ve built a seamless ecosystem centered around our ERP/BO and CRM solutions. In full synchronicity, brokers can control and operate multiple front-end trading platforms, such as MT4/5, cTrader, and our own platform. Our systems enable a professional team to run a multi-brand, multi-platform, multi-currency operation from one secure system, ensuring all systems work in unison. This is one of our primary goals because, after all, our success is a reflection of our clients’ success.

FNG: With 20+ years in the FX & CFDs space under your belt, I’m sure you have a good sense as to what brokers do well, and what they need help with. How do you see SparkMarkets helping out?

Lubo: Thanks for the great question! Starting a brand can be tricky, especially when choosing the right tools. It’s tempting to go for the cheapest option or jump on popular products, but there might be better fits for your needs.

That’s where SparkMarkets comes in. We help brokers make smart choices for long-term success. With our experience and range of top-notch tech solutions, we cut through the marketing hype to find out what really works for your business and clients.

We’ve noticed some providers are raising prices due to popularity. While cost is important, we believe in offering premium products at fair prices. Before committing elsewhere, why not give us a shout? We might surprise you with our offerings.

Remember, it’s about finding the right solution for you, and that’s exactly what we’re here to help with.

FNG: What changes do you see coming for FX and CFDs brokers? How is SparkMarkets positioning itself for these changes?

Lubo: The brokerage industry is constantly evolving. Recent volatility and COVID-19 drove record engagement and revenues, but we’re past those peaks now. Innovative brokerages are reassessing their strategies, asking:

1. Are we too reliant on our trading platform?

2. How might prop trading impact us?

3. Should we be embracing AI?

4. Are we missing out on Crypto?

That’s where SparkMarkets comes in. We’re not just selling off-the-shelf solutions; we’re your trusted advisor. We get to know you, understand your current needs, and anticipate your future ones. We might suggest solutions that seem ambitious now but could be game-changers down the line. We’re here to help you stay strong and keep growing in this ever-changing landscape.

FNG: What else can we expect to hear from SparkMarkets in the near future?

Lubo: We’ve been busy strengthening our relationships with key players like vendors, consultants, and payment service providers and collaborating with current and prospective clients. While I can’t share all the details yet, exciting announcements are coming soon.

On the product front, we’re constantly innovating and improving. I’m thrilled to showcase the value we bring to the table.

Have you visited SparkMarkets.com lately? It’s packed with information about our offerings and has weekly updates. I invite everyone reading this to check it out. If you like what you see, schedule a walkthrough or set up an intro call with us. We’d love to chat and show you what we’re all about!