20 Feb 2018 – Autochartist is proud to announce that it has concluded acquisition of a controlling stake in VerifyMyTrade – www.verifymytrade.com – a company specializing in measuring the quality of execution in the retail forex market.
The VerifyMyTrade Trust Builder enables traders to verify, via an industry acknowledged impartial service provider, whether the price they receive on a trade is market related. VerifyMyTrade enables brokers to address price dispute resolution processes internally, and provides a monthly regulatory report on the brokers quality of price execution for regulators or for marketing purposes.
“VerifyMyTrades fits perfectly with the Autochartist content for broker marketing, sales, retention and VIP solutions.” says Autochartist CEO Ilan Azbel, “Transparent demonstration of quality price execution enables brokers to achieve the dual objectives of building trust with traders and meeting regulatory requirements.”
Since its launch in December 2017, VerifyMyTrade has concluded several agreements with brokers that use its services for analysis of price competitiveness and internal regulatory and dispute resolution processes. It has also formed a partnership with the Financial Commission, which now uses VerifyMyTrade within its price dispute resolution processes.
VerifyMyTrade is headed up by Jeremy White, a seasoned financial markets professional. White says “The combination of regulatory technology solutions as a marketing and sales tool for brokers enables brokers to get significant return on investment in what is traditionally considered a cost or overhead to their business.”
“Partnering with the Autochartist group enables us to rapidly expand our sales reach within the forex industry at a time when price competitiveness and quality of execution is front-of-mind with respect to MIFID II.” says White
Since its inception in 2004, Autochartist has partnered with hundreds of leading Stock, Forex, Futures and CFD brokerage firms across the globe. More than a decade later the company services millions of traders in over 100 countries through their vast broker partnerships. Autochartist sends out thousands of financial market articles and commentaries every day in over 20 languages.
Autochartist prides itself on the core commitment to service excellence and ongoing market leadership through developing innovative new products.
VerifyMyTrade is a broker independent company specialising in post-trade execution analysis. Verify My Trade aggregates forex price tick data from retail brokers into its repository and uses a statistical method to segment trades by execution quality for any given second of the trading week. The analysis of each execution can be used for hard regulatory requirements, such as with MiFID II, be used in products such as Trust Builder, which allow brokers to be open and transparent about execution quality, or for trade dispute resolution, making it an all-round benefit to all parties when it comes to execution-related trade queries.