LONDON, (PRWEB) December 5, 2006
Profinum, Ltd., a forex broker that caters to the demands of small and mid-size traders, has become the first forex brokerage to offer its forex trading clients zero spread.
Ted Wardi, Profinum's head trader, puts it simply: "Here's the deal, upfront: under normal trading conditions, for trades under $1,000,000, the bid and ask are one and the same. When there's high volatility the spread widens to standard bank rates, and no more."
This pricing strategy underlines Profinum's commitment to providing the fairest trading environment possible for small and mid-size forex traders, as per Profinum's motto: "For Traders, By Traders." The concept seems to be working, and Profinum is experiencing brisk growth while maintaining its extremely high standards for pricing, technology and service.
"Profinum was built from the ground up to support this kind of innovative pricing," says Profinum CEO Mika Liebkind. "We were all small and mid-size forex traders at one time or another before we founded the firm, and we really felt that our brokers' pricing and service just didn't meet our expectations. We started thinking: 'How can we make the lives of traders like us better?' So we build a firm on the basis of real change, and in fact our zero-spread policy is just the first of many innovations we plan to roll out."
Profinum cites several innovative technologies and policies as the core of what makes the zero-spread pricing offer possible, including:
- A business model designed specifically for this innovative approach to forex;
- A marketing model without introducing brokers whose commissions typically come from the spread;
- An online trading platform that dramatically lowers the marginal cost of trades and
- A limit on the number and size of trades that prevents disingenuous behavior (such as automatic scalping) but does not impinge on an active small or mid-size forex trader's routine.
"Its funny how much people try to second guess our policy," continues Mr. Liebkind. "Traders aren't used to being treated well, so I get emails all of the time to the tune of 'Are you for real?' or What's the catch?' and I have to tell them: no, actually we're a company that was set up to do this, so there's no catch. We don't take those pips back from any other customers or play any games. We're just very good at running the kind of broker we wished we had when we were small and mid-size forex traders."
Profinum's zero spread pricing has been especially rewarding to newer traders. By eliminates a barrier of fees and a level of complexity, newer traders may become profitable quicker and develop a greater confidence in the market.
"I'm not afraid to say that the reason why we are giving small and mid-size forex traders the best deal is because we want them to become clients and to stay clients for a long time," quips Mr. Liebkind. "Go to http://www.profinum.com," he says, "and open an account, send me an email, and see for yourself that the pricing, service and commitment are all there as promised."
Profinum, Ltd. is an online foreign exchange broker that is devoted to providing small and mid-size traders with the fairest trading environment possible. Profinum was founded by a group of traders, and the Profinum motto--For Traders by Traders--represents an approach to forex trading that emphasizes:
» Fair and transparent pricing,
» Rapid execution across all market conditions,
» Personal & responsive customer support and
» Best-in-class technology.
Profinum, Ltd. is headquartered at 145-157 St John Street, London, EC1V4PY. Profinum is incorporated in the British Virgin Islands (Registration Number 1047901), a regulated banking environment. Further information about Profinum and its unique online forex trading offering is available at http://www.profinum.com.
Mika Liebkind (Profinum, Ltd.)
+44 20 81331803
Not an offer to sell securities. Forex is a high risk investment. Please read the Risk Disclaimer: http://www.profinum.com/account/risk_disclaimer.html