Artem Seledtsov, chief business development officer and chief sales officer at Exness, has high hopes for the company’s future in the Middle East. Seledtsov sees a landscape ripe with opportunities, poised to propel Exness to new milestones and global reach. In an exclusive conversation with Economy Middle East, Seledtsov elaborates on his strategic approach to realizing these ambitions through cutting-edge product innovation, seamless transactions and an unwavering commitment to heightened security and transparency for their clientele.
The MENA region has seen significant growth in the financial industry over the past few years. What factors have contributed to Exness’ decision to expand its operations in this region, and what opportunities do you see for the company?
The MENA region offers significant opportunities for brokers aiming to expand, diversify, and tap into untapped markets. The market’s vast scale encompasses countries with affluent economies and high-income populations, particularly the oil-rich GCC nations, boasting substantial resources. This dynamic fosters a demand for wealth management and investment services.
Conversely, emerging economies like Egypt and Jordan are still in developmental stages, displaying varying degrees of economic growth. Statistics reveal that over 60 percent of the region’s adult population remains underbanked or entirely unbanked, in contrast to the U.S. and EU markets. Nevertheless, where there’s demand, supply inevitably follows.
Remarkably, the fintech sector is already flourishing in the region, buoyed by robust government backing and fintech-friendly regulatory frameworks. This upward trajectory is poised to continue, presenting unprecedented growth prospects to expand our global presence and establish dominance within the market.
Our confidence stems from our deep liquidity, robust product lineup, and the exceptional speed and quality of our order execution, positioning us advantageously in this dynamic market.
With various financial players already established in the region, what sets Exness apart from the competition?
Exness prides itself on leading technological innovation in the financial industry. Our technology has pioneered numerous industry firsts, including instant withdrawal processing, customizable leverage up to 1:2000, no-market-impact execution, and safeguards against price gaps, slippage and spread widening.
After 15 successful years, our trading engine and superior market conditions have propelled us to a remarkable milestone – becoming the world’s largest retail broker. This achievement is underscored by our monthly trading volume exceeding $3 trillion and a thriving community of over 500,000 active monthly clients.
To realize this accomplishment, substantial investments have been made in our trading engine, ensuring dependable processing of this volume at optimal pricing. We’ve also honed the user experience at the terminal level. The Exness Terminal, our exclusive trading platform, offers a contemporary and user-friendly interface enriched with highly sought-after features. Among these are one-click trading, seamless integration with trading signals from Trading Central, and a suite of trading tools and indicators from TradingView.
Our commitment extends to payment versatility, with a diverse array of swift and secure options. Notably, our cryptocurrency deposit offerings continue to expand, now including USD Coin (USDC) and Tether (USDT) on both the Ethereum (ERC-20) and Tron (TRC-20) networks – the latest additions to our growing selection.
Could you elaborate on the specific developments and innovations in the financial industry that Exness aims to spearhead or introduce to the MENA region?
Exness has a clear vision for driving advancements in the MENA region’s financial landscape. We are committed to bringing even greater product innovations and streamlined transactions, and ensuring greater security and transparency for traders.
Moreover, we aim to lead the way in incorporating generative AI and AI-driven tools in the traders’ arsenal. These tools can help traders either in terms of identifying opportunities to expand their portfolio or aid them with automating their trading strategies. Our focus, of course, remains on fostering financial literacy in the region and empowering traders with the knowledge and tools they need to thrive in the markets.
The MENA region has unique cultural and regulatory dynamics. How does Exness plan to navigate these challenges while ensuring compliance and trust among its clients?
Recognizing the diversity of the MENA region, Exness is deeply committed to complying with local regulations and adapting our services to suit the specific needs of each market. We prioritize maintaining transparency and open communication with local regulators to ensure that we operate in full compliance with the region’s regulatory frameworks. Moreover, we actively engage with local communities and provide educational resources to help traders understand the risks and opportunities associated with financial markets. This approach builds trust and demonstrates our commitment to responsible trading practices.
Sustainability and responsible business practices have become crucial concerns in today’s world. As a leader in the financial industry, how does Exness integrate environmental, social, and governance (ESG) considerations into its operations, and what steps is the company taking to promote sustainability in the MENA region?
Exness views its role in the MENA region as extending beyond mere financial services provision, to that of a catalyst for both economic growth and enhanced financial inclusion. Through the provision of advanced trading tools and educational resources, our goal is to cultivate a vibrant community of well-informed investors, empowering them to engage more effectively in the global markets.
Our focus on technology and innovation enables us to offer cost-effective services to a broader demographic, enhancing financial inclusion in the region. As we continue to grow in the MENA region, we envision collaborating with local stakeholders to create positive socio-economic impact and contribute to the region’s long-term prosperity.
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