My name is Dmitry Rannev and in the Russian Forex segment I have been known by the nickname Rann for over 15 years. I am the creator, owner, and mastermind of this project. Concurrently, I am the CEO of AMTS Solutions - a large software development company, which specializes in writing software for brokers.
Firstly, a few words about myself. I worked for 10 years at the Central Bank of the Russian Federation, for 8 years at Alpari (The largest forex broker. I was a member of the board of directors there), for several years I was the CEO of GKFX Company. Then I have headed AMTS Solutions Company.
For many years I was a member of the arbitration commission for client complaints against brokers. I am the author of several books on trading and numerous publications on resources such as "Forex Magnates". I have been a frequent guest in the “Markets” program on the RBC channel. Also, look at the big interview at H2T club.
For over 15 years I have been involved in forex trading and I know almost everything about this market. And of course, one day I could not hold back from transferring all of my experience to my brokerage company. The desire to create my own broker came to me in 2013. It was then that the company was registered and the domain rannforex.com was purchased, although implementation followed only a few years later.
All these years I have been constantly thinking of what a broker should be. The concept was constantly changing, and eventually, it came to what you can observe now. In the concept of this project, I tried to reflect everything that is truly important, what should help to make a company that has not yet been on the market. Time will tell whether it was a success or not.
What does a broker need to become successful and stay afloat? Globally there are five elements:
How am I going to bring these 5 points into reality?
Good trading conditions. I am going to offer our Clients not just good but the best conditions. Conditions that are close to institutional. Not every liquidity provider can offer similar conditions. Great liquidity with amazingly low spreads, little commission, and instant execution thanks to the world’s best technologies from AMTS Solutions. Obviously, earning a lot and covering expenses with this kind of conditions is difficult but we will talk about it later.
No trading risks. This can be achieved simply. 100% A-book, full hedging of all clients’ trades. Yes, it provides less profit than A-B book mix. However, the profit for this project is not as important as stability and reliability.
No operational risks. This is more complicated because that is the bankruptcy reason for most companies. Company’s expenses exceed profit and the company has to spend more. If the company does not start earning more than spending then, as a rule, investments stop. Without new investments company starts spending clients’ money and then go bankrupt. I am going to avoid this risk with a low-cost work model. The Company has almost no staff. And those on staff do not get paid (they have a different motivation), the Company does not have any unnecessary paid services and all payment fees are paid by clients. Company expenses are the most necessary minimum. As a result, such expenses can be maintained for years without special investments, which eliminates operational risks on the one hand, and allows us to provide customers with excellent trading conditions on the other (this is what I meant in the point 1). I am ready to sacrifice the service for the sake of reliability, and I am sure that many traders will understand my choice.
Client confidence. This requires maximum transparency and openness, and I am going to provide both. I will tell and show everything that can be told and shown and the openness will only increase. And the second factor that should work toward confidence is my personality. I am open, I am known, I know many traders personally, I am not a nameless CEO and I do not hide my face. I am ready to communicate openly with the clients of my company and, in general, I have always done it for many years.
Marketing. This is the most complicated part of establishing a forex broker. The industry is extremely competitive and the Internet is full of ads. It is very difficult to get through, and many brokers pass away without making themselves known. Therefore, marketing on Forex requires huge expenses and often becomes a cause of bankruptcy because expenses exceed profit. As you can see, this way is not suitable for my company because I do not have unnecessary expenses (low-cost model). I decided to go the other way. The broker will become a show, and I will reveal in details how the broker works on the inside. I am sure that it will be interesting to a variety of people, both traders, and potential broker owners. This show, along with splendid trading conditions, can become a driving force for attracting new clients to the company.
I hope that you enjoyed reading about the project and have a desire to open an account and start trading. Do not hesitate and press ‘Open an account’ button below.
Top-notch technology from AMTS Solutions. The best trading conditions from RannForex. The reputation of Dmitry Rannev.