FNG Exclusive… FNG has learned that experienced FX and CFDs industry executive Lea Wang has launched a new firm offering consultancy services for multi-asset brokers, called 4XTC (at website 4xtc.io).

Lea Wang, who is based in Cyprus, was EVP and COO of FX broker CRM and Affiliate management solutions specialist PLUGIT for three years (2019-2022), and previously served as Head of Global Account Management for broker tech and liquidity solutions company PrimeXM, where she worked for four years.

FNG is pleased to speak today with Lea about the new venture 4XTC, what brokers do well and what they need help with, and a whole lot more about what’s going on in the industry.

FNG: Hi Lea, and thanks for joining us today. Please let us know a little more about your decision to set up 4XTC, and what you do.

Lea: Hi, thanks for having me today, I appreciate this opportunity to shed light on 4XTC.

4XTC, short for Forex Technology Consultancy, offers consultancy services for multi-asset brokers globally, particularly focusing on financial technology. With our team, we assist brokers in operating and managing various tech systems. Additionally, we’ve cultivated strong partnerships with a wide range of providers, catering to the diverse needs of the entire brokerage life cycle. Therefore, we also help brokers identify the optimal solutions for their specific needs through our extensive network.

The inception of 4XTC was actually client-driven. Over the past decade of my career in the Financial Trading industry, both in Fintech companies and brokerages, I consistently received inquiries and requests from clients, partners, and colleagues to help manage their systems and bridge connections between providers and brokers. As the number of such requests continued to increase rapidly, and required more in-depth involvement, with my technical partners came into the picture at the right time, we collectively decided to formalize this collaboration into an official business, thus establishing 4XTC. So together, we embarked on something new, leveraging our existing expertise in the field.

FNG: Which types of services (and clients) will you be focusing on initially?

Lea: Our clients are mainly multi-asset brokers from around the globe, both start-ups and established entities. This may sound broad, but it is related to the nature of our business: we focus on two main types of services: technical system administration and management (A&M) services, handled directly by our team of tech experts; and assisting brokers in finding and engaging with the best matching providers for other business needs through our extensive network of partners.

As for our A&M services, they are particularly popular among new brokers who do not have an established in-house team. In such cases, we serve as their dedicated tech team, assisting in configuring and managing essential tech systems, including trading platforms, bridge and execution engines, liquidity and order routing engines, risk systems, and hosting environments. This helps reduce their market entry time and costs significantly, ensuring a stable and accurate middle and back-office setup, allowing them to go live in days rather than months (from hiring, training new employees and actually being able to configure systems to deliver expected results).

Established brokers also use our A&M services, especially when launching new platforms and systems, such as different trading platforms, prop trading platforms, social trading platforms, and other plugins and tools. As our tech team members have solid experience and knowledge of mainstream systems in the market, for the established brokers, we act as an extended tech team alongside their in-house tech departments, guiding and assisting them in handling new launches, daily monitoring and troubleshooting, adding additional security, efficiency and accuracy to the setups.

In addition to our A&M services, clients come to us asking for help with licensing, banking and payment solutions, as well as finding specific tools, and even acquisition and resell of companies. Through our connections, we identify providers that best suit clients’ needs on a case-by-case basis. We don’t impose specific providers or force bundle solutions, only aiming to provide our clients with the freedom to choose partners they are comfortable working with, in order to forge healthy and long-term business relationships for all parties involved.

As per the targeting clients’ segments, to be frank, we have not done marketing or pushed for cold sales so far, clients approach us either through prior acquaintance with us or word-of-mouth referrals, likely for our relaxed, open and professional approach. We appreciate and cherish this trust a lot and hope to always deliver good services and value to our clients. We value and treasure this trust deeply, hope and aim to provide consistent excellent service to our clients.

FNG: From your perspective of having worked extensively on both the brokerage and B2B sides of the business, what do FX/CFD brokers do well and in what areas do they generally need to improve? And how can 4XTC help in those areas?

Lea: There are many brilliant systems in the market capable of performing various functions. However, they are often complex and require a significant amount of time to learn and configure. The harsh reality is that barriers to learning and operating them limit their accessibility to only a small group within the industry. This hinders more brokers from benefiting from these systems and slows down the spread of quality systems in the market.

On the broker’s side, they often face challenges in finding suitable providers due to factors like language barriers, geographical distance, or lack of information. It’s unfortunate when good systems and providers cannot be widely utilized to create significant value for businesses. This is where 4XTC steps in to create value for both providers and brokers.

By bridging the gap between the two parties, we help brokers find global providers that enhance their business value and save time and costs. Additionally, for systems that brokers cannot handle internally, we not only assist with setup but also provide ongoing management. In this way, we facilitate knowledge sharing to enable our broker clients to fully leverage the powerful features of these systems, to achieve obvious lower risks and increased profitability. More importantly, with our help to offload tech operation burdens, brokers can focus their efforts on customer acquisition, improving user experience, and developing new marketing strategies to drive business growth.

FNG: What else can we expect to hear from 4XTC in the coming months?

Lea: Mutual growth is at the core of what we care about at 4XTC. This applies to our company, our clients, and our partners. We focus on taking good care of our team members, ensuring everyone can learn and grow within their roles as the company grows. We also work hard to provide our clients with ethical and transparent support, help them overcome operation challenges and serve as a reliable backbone so they can run their businesses smoothly. Last but not least, we keep in mind that always nurturing our partnerships with different providers, fostering healthy relationships to support mutual growth.

In the upcoming months, we plan to steadily expand our team with like-minded individuals to accommodate our growing client base while maintaining our high standards of service. We are also always welcoming new partnerships with various providers. This year we will be participating in expos in different countries, and we welcome everyone to reach out, connect and catch up with us.

And at last, I’d like to take this opportunity to express our gratitude to everyone who has placed their trust in us, supported us, and collaborated with us. I would also like to thank the FX News Group team for the interview.