Charalambos Psimolophitis

FX-MM Editor’s interview with Mr Psimolophitis

Charalambos Psimolophitis, CEO FxPro, tells FX-MM editor Peter Garnham how aligning itself with the goals of its clients is paying off for the FX broker and how technology is driving its rise to the top of the industry. The world is changing fast, and traders are increasingly able to take disruption in their stride according to Psimolophitis. In fact, he says, it is not just in the financial markets that we see that phenomenon, but in life more broadly as technology advances and the dynamics of ...


Building Algorithmic Strategies with FxPro Quant

Trading algorithms are sets of trading instructions installed on a platform with the purpose of monitoring the market for specific conditions. When pre-set parameters are met, trades are executed automatically, with orders being sent directly to your broker’s trade server. Thus, an algorithmic trading strategy places orders without the need for you to trade manually. As any trader will tell you, there are many advantages to algorithmic trading. Firstly, trading with the use of algorithmic strategies naturally reduces the time you spend monitoring the market, waiting for that perfect trading opportunity to place your order. This is because your algorithms will identify good opportunities and execute trades on your behalf, without requiring any manual input. Equally important is the fact that algorithmic trading may minimise mistakes and increase the accuracy of your trades, as all calculations are carried out by algorithms. In addition, algorithmic trading reduces the stress and anxiety associated with manual trading as it is less prone to mistakes and prevents you from placing orders on impulse when the market moves in an unfavourable direction. It used to be the case that the creation of algorithmic strategies required the knowledge and use of complex coding languages. To help traders overcome this obstacle, FxPro has introduced FxPro Quant, a user-friendly algorithmic strategy builder that allows anyone to turn their trading style into an algorithmic strategy without the use of coding languages. Quant features an easy-to-use interface, as well as a library of technical indicators, mathematical functions and logical operators which you can drag and drop onto your workspace area, before connecting them to create complex strategies for MT4 and/or cTrader. Once you set all required parameters and finish your strategy, you may save it,* export it and apply it to your trading with a few simple steps. A range of customisable templates, video guides and comprehensive user guides are readily available to help even beginner traders formalise their trading style. The FxPro Quant Strategy Builder can be used by registered and unregistered users alike at no extra cost. In addition, Quant is web-based, so that you may use it from any browser without the need to install it. You may test your strategies on historic data in a risk-free, demo environment on the FxPro MT4 and/or FxPro cTrader platforms in order to improve them and achieve the desired performance. Visit to access FxPro Quant and start building your strategies. *Quant users registered with FxPro may save their strategies on the server. Unregistered users may import/export the Quant file from/to their hard drive to continue working on their strategies. Risk Warning. Trading CFDs involves a high risk of loss.

Charalambos Psimolophitis

Forex Magnates Interview with Mr Psimolophitis After the SNB Crisis.

Could you provide a timeline of how the Swiss franc price action unfolded on what the industry now calls Black Thursday? It all happened so quickly that I don’t think it would be a very long timeline at all. At 11:30 on January 15th, the SNB removed its 1.20 floor on EUR/CHF. Around 47 seconds later the pair dipped below 1.20 and was trading just above 1.17. Ten seconds after that it tumbled harder and faster than any major pair in the history of FX. Due to the fact that most positions in the ...

Denis Sukhotin

Why Negative Balance Protection is so Important

The recent CHF debacle has been quite instructive for a number of reasons. We all agree that low volatility is a bad thing in retail forex, but too much of it can be catastrophic. However, it’s precisely when the markets stray from that comfortable middle ground that we get a unique insight as to who’s who in this industry. The confusing acronyms and contradictory marketing copy fall away and we see brokers through their actions. This is exactly what happened in January when the SNB removed its ...

Charalambos Psimolophitis

Prime-of-prime is the new Prime

Our industry has proven itself to be exceptionally resilient, especially after the global crisis of 2008 and through the periods of low volatility that have ensued. If anything, the intervening years have seen an industry rapidly coming of age. Our traders have experienced increasing transparency as well as improvements in liquidity and technology that have led to better prices and faster execution times. The trend, as I have observed in previous articles, has been for a gradual levelling of ...

Denis Sukhotin

Want it done? Do it yourself.

Recently we announced our acquisition of spot FX aggregator Quotix, a company that has been on our radar for quite some time. We have been known to work with other tech companies in the past, normally in an advisory capacity, but this is the first time that we have taken the plunge and decided to take one on board. It’s a big move for us, but also the next logical step on the path that we have been pursuing, especially since transitioning to an FX Agency Model of order execution in 2012. There ...

Charalambos Psimolophitis

When Regulation Matters

I was interested to hear, but cannot confirm, that HSBC recently hired its 10,000th compliance person at the global bank. Not an insignificant figure and roughly 5% of their workforce. Now whether it is true or not is a moot point as it doesn’t detract from the fact that compliance departments across the finance sector are ballooning and it’s an area that is only likely to continue to grow. The numerous probes that have rocked the financial sector recently have not made good headlines, there’s ...

Charalambos Psimolophitis

Mobile Trading and the Growth of Emerging Markets

Our industry owes so much to the personal computer that it can be easy to fall into a kind of Western-centric thinking when it comes to the tools and services we offer our clients. We have been privileged to witness the evolution of the PC, many of us with first-hand experience of several generations of machines and operating systems, much before the advent of smartphones and tablets. We have also seen the development of the Internet, from painfully slow dial-up connections to the broadband we enjoy today. Having lived through these changes we often make the error of assuming that information technology has been developing uniformly across the globe. This is certainly not the case and our mobile offerings are where this will become most evident in the years to come.

Charalambos Psimolophitis

Human, All Too Human

If I told you that you could avoid the risk of a one-in-a-thousand chance of death, how much would you pay for the service? Now what if I had posed the question differently? How much would you need in order to accept the risk of a one-in-a-thousand chance of death? When Professor Richard Thaler put these questions to different groups of graduate students he found that, on average, they answered $200 to the first question, and $10,000 to the second. Quite a discrepancy given that both scenarios ...