FNG Exclusive Interview… Following our exclusive report from earlier this week that FX industry marketing executive Elena Kupriianova was joining Spotware Systems as the cTrader trading platform developer’s new Chief Marketing Officer, we’re pleased to follow that up with a detailed discussion with Elena.
How did Elena end up at Spotware?
What is it like to move “across the street” from working in the brokerage sector (Exness, Capital.com, CFI) to the tech-provider side of the business?
How is the recent turmoil in the prop trading firm space affecting brokerage tech providers, and Spotware/cTrader in particular?
We discuss these issues and a whole lot more with Elena, exclusively at FNG. Read on below…
FNG: Hi Elena, and thanks for joining us today. First of all, congratulations on your new appointment as CMO of Spotware! Can you share with us and our readers how you ended up coming to Spotware.
Elena: Hi, and thanks for having me. I am pumped to be a part of this exciting endeavor, and I am confident that my six years of experience in this industry have primed me for this opportunity. Over the course of my career, I have noticed that the loudest voices in the industry are often the brokers, not the tech providers, which has resulted in many industry-defining technologies going unnoticed. Brokers often succeed in marketing by competing to be the loudest voice, even if the conditions they offer are similar to others.
As a tech enthusiast, I have been often frustrated by the fact that many excellent products go undiscovered because of the creators’ lack of promotion or marketing expertise within the team. When I learned about the Spotware team and their dedication to excellence and quality, I was blown away by their innovative and revolutionary technology. I am super excited to join this team and leverage my skills to spread the word about their disruptive technology to as many people as possible.
FNG: The trading platform space seems to have been shaken up lately by what is going on in parallel in the prop trading sector. How has Spotware been responding? Has it affected the overall use and uptake of cTrader?
Elena: There has been significant activity in the prop trading sector recently, which has affected the trading platform landscape. Spotware has responded proactively to these changes by forming strategic partnerships and enhancing its product offerings. For example, the integration with prop giants like Funding Pips and FTMO confirms that the recent improvements made cTrader more attractive to both proprietary trading firms and brokers by offering advanced charting tools and API integrations.
Spotware has always been at the forefront of the industry in terms of technology and innovation. We are actively developing many solutions for prop trading, including products engineered to effectively establish, monitor, and regulate the rules of challenges for prop trading companies.
Proprietary trading firms often face challenges when using most platforms, as they need to purchase and configure multiple third-party tools and software. This can result in unmanageable costs, as well as unstable and low-quality solutions. We are launching an all-in-one solution that will be able to provide support for various drawdown calculations and can seamlessly integrate with external systems, including a prop firm’s CRM.
FNG: Most of your experience to date has been on the brokerage side of the business, at Exness, Capital.com, and most recently CFI. How does your role change with you moving to the tech-provider side of the industry?
Elena: Moving from the brokerage side to a tech provider like Spotware is an exciting and strategic career move. It represents a shift in my focus from primarily engaging in direct customer interactions to a more influential role where I can leverage my extensive experience to enhance a platform that serves multiple brokers and partners, and millions of traders globally.
As a former marketeer for brokers, I have firsthand knowledge of operating in an overinflated market with intense competition. I understand that traders are not always the most loyal individuals, and massive budgets are required to acquire and retain them through various channels. However, my previous experience has honed my expertise in B2B marketing, where I will be more hands-on, working closely with sales and client success teams to drive results.
I am skilled in improving key areas of B2B marketing, including owned media, brand building, social media management that adds value for clients, and media relations and partnerships to accurately represent products and platforms. B2B marketing requires a long-term approach, where we prioritize building high-quality relationships and maintaining Spotware’s reputation as a team of innovative and honest tech enthusiasts.
In my new role, I am excited to influence product development and marketing strategies from a more foundational level. This will ensure that the technologies developed are tailored to meet the evolving needs of traders, partners and brokers alike. Overall, I am confident that my expertise will enable me to make sure that the word about Spotware’s technologies reaches the right eyes and ears.
FNG: From your perspective having worked in senior roles at some of the world’s largest and most successful online brokers, what do brokers do well – and not so well – especially when it comes to technology? How do you see Spotware helping to address some of these issues?
Elena: In my experience, I have observed that large online brokers are good at acquiring customers and navigating regulatory hurdles but often struggle with adapting to new technologies and integrating them into their platform. It’s unfortunate to see that some trading platforms have yet to take advantage of modern trading technologies that could greatly improve the user experience and ensure a stable platform for their users. As a part of Spotware, my primary objective is to bridge these gaps by ensuring that our technologies, are not only top-of-the-line in functionality but also in terms of ease of integration and user experience.
Many brokers make the mistake of investing resources in developing platform technology, which may not be their primary area of expertise. What they fail to understand is that cTrader instantly provides them with access to a new segment of traders who wouldn’t trade with the broker without cTrader, regardless of the conditions. As a result, their marketing efforts may be somewhat in vain.
Rather than focusing on developing trading technology, brokers should prioritize providing the best trading conditions and partnering with platforms that allow traders and partners to take full advantage of those conditions, like cTrader does. Some brokers believe that they can innovate on trading technology without adequate experience and knowledge, resulting in wasted time and resources developing tools that may not be useful. Therefore, it’s critical that brokers concentrate on their core business, which is brokerage, and utilize cTrader to reach new audiences and trading volume heights.
When it comes to communication, brokers may tailor their approach to either partners or traders, depending on the maturity of the market they operate in. In this regard, cTrader stands out by offering a rich set of tools and resources for partners, like cTrader Invite and cTrader Copy, the biggest set on the market in fact, which can be beneficial for brokers seeking to strengthen their partnerships.
FNG: I’m sure there’s still a lot of work to be done, but at the outset where do you see the most opportunity for Spotware and the cTrader brand? Where will you be focusing your energies in the coming months?
Elena: As we move forward, my primary goal is to ensure that cTrader’s impressive features are highlighted on all of our owned channels. We also want to generate more buzz and attention from the press and social media by showcasing the benefits of our trading platform. Furthermore, we believe that our partners could benefit from cTrader even more than they currently realize, so we will be working to educate them on our platform’s capabilities.
In order to maintain our position as a leader in trading technology, we are looking to expand our market reach through strategic partnerships. We want to offer a wider range of personalized trading solutions and advanced analytics capabilities to our clients. At the same time, we are excited to explore more integrations that improve user experience and meet specific broker needs. We believe that this will help us to continue to provide the best possible service to our clients.
In addition to all of this, we are currently developing new features that will be of particular interest to prop trading firms. These features will be designed to help these firms achieve their goals and improve their bottom line. Overall, we are confident that by continuing to focus on these key areas, we will be able to take cTrader to even greater heights in the future.
FNG: What else can we expect to hear from Spotware in the near future?
Elena: Spotware will continue to advance its trading technology by introducing updates and new features that cater to the needs of both traders and brokers. The company is committed to focusing on algorithmic tools, automation, and enhancing user experience. Spotware will also expand its API capabilities, allowing for better client customization and integration options.
Furthermore, Spotware is excited to announce a huge release that will shape the next decade of trading. Although I can’t reveal much, the upcoming release is expected to be a game-changer, and I can hardly wait to share more details with you.
