The Future of Forex Through the Prism of the Premier IBs Conference in South Africa

Scandinavian Capital Markets recently held its Premier IBs Conference in Johannesburg, South Africa, which turned out to be a huge success. The central theme was the evolution of the Forex landscape and what the future of Forex holds for everyone from a broker and trader point of view. The focus was on adding value and how Scandinavian Capital Markets play a role in improving the trader experience.

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Photo Gallery: Premier IBs and Traders Conference in South Africa

Scandinavian Capital Markets had a successful conference for premier IBs and Forex traders in South Africa, Johannesburg. The event featured organizers and guests speakers such as Michael Buchbinder (Scandinavian Capital Markets), Nick Sproule (Blackstone Futures), Francis Hunt (the Trading Sniper), Stephen Nefdt (Forex Wealth), Richard Goers (ML^ Predictive Analytics Trading), Robert Lotter (SetBot) and others.

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Scandinavian Capital Markets Hosts IB Conference in Johannesburg

IB Conference in Johannesburg

With a focus on trust, security, and transparency, Scandinavian Capital Markets brings it’s unique approach to South Africa’s Forex industry.

After a successful summit in London back in May hosted by FinanceFeeds, Scandinavian Capital hopes to continue the trend this November. Attendees were able to take an active part in learning about the changes in the industry.

Takeaways from the London Conference

Participants got to hear a lot about the new waves of technology hitting the markets. Discussions took place on artificial intelligence and quantum computing’s potential impacts on the industry.

Yet, for all the feel-good optimism, there was a noticeable lack of meeting current client needs. Traders continue to pay costly fees for this technology. But, they (and the developers) lack a true understanding of the inner-workings and how to exploit its benefits. Traders and investors debated the question of turning over trading to a machine.

Many understood that while clients enjoy experimenting with the new technologies, they aren’t beholden to broker platforms. Still, many retail traders have yet to improve their potential with technology. This leaves the door open to growing the base through better products and services.

Investors Turn Towards South Africa

Many brokerages hope to replicate the results of Australia in South Africa. The similarities in regulations, along with a mature banking industry make the environment ideal. At the moment, the industry remains dominated by a large IB network. These master IB’s deal with both trading and investment portfolios of large clients as well as smaller towns.

Still, the country faces the same ethics challenges as other countries. They rely extensively on trust between the IBs and the brokers. Any problems with the broker roll up to the IBs. This has led to a few unsavory cases. In one instance a brokerage pushed out IB’s with recurring commissions. They then pilfered the clients, cutting out the IB.

These trust issues make it difficult for the b-book dealing desks. IBs hold little trust as they have little control of their business.

The Johannesburg Conference

Directly addressing these issues, Scandinavian Capital hopes to bring their culture and trust into the market. Their focus on trust is rooted in cultural and personal experiences.

The conference centers on the key themes of:

  • Commissions for IB’s
  • Spread markups
  • Execution quality
  • Availability of all asset classes on an A-book basis
  • How to execute trades fairly
  • Providing clients the right tools via the trading platform
  • Avoiding irresponsible firms in the retail sector

Register Now to Reserve Your Spot

The schedule for the conference on November 16th is as follows:

10:00 Welcome Coffee Reception

10:30 Opening

Welcome speech and presentation about Scandinavia’s premier Forex brokerage – Scandinavian Capital Markets by Michael Buchbinder, Managing Partner

11:30 Panel Discussion

The panel discussion will feature global leaders from the Forex and multi-asset trading industry across all sectors. Learn the essential perspectives from Forex expert Stephen Nefdt, asset management specialist Nick Sproule and professional trading platform developer Richard Goers about the new direction in the Forex business.

Panelists will discuss how you can modernize and move forward for a profitable and cutting-edge future in electronic trading.

Additionally, these esteemed leaders will debate how to meet the needs of modern IBs, who need a transparent and trustworthy brokerage partner and want to be treated as a strategic partner rather than a source of multiple deposits.

The panelists also will discuss how to structure a top-quality, client-focused multi-asset trading solution for South Africa’s retail client base via important strategic IB’s across the country.

12:30 Lunch and Valhalla Experience Presentation by Francis Hunt

14:00 Networking and Open Microphone

Participants will meet over 50 leaders from across South Africa, who were selected from every sector of Forex business to make meetings relevant and efficient.

15:00 Closing remarks from Andrew Saks -McLeod, founder at Finance Feeds, co-organizer, and moderator

Valhalla Community: Meet Forex Expert from South Africa – Stephen Nefdt

By way of introduction into this new era of Forex trading, Scandinavian Capital Markets invited some of the top names in Forex trading. With opportunities to spend one-on-one time with Scandinavian Capital Markets founders Arif Ahmad and Michael Buchbinder, these lucky individuals are able to see how Scandinavian Capital Markets differs from the average Forex brokerage. From dinner with the team to tours of the office, and much needed r-and-r amongst the restaurants, spas, and sights, Vahalla participants get a bird’s eye view of the inner workings, and future aspirations, of Scandinavian Capital Markets.

Gone are the days of risky trading partnerships and shady brokers. The future of Forex casts aside dishonesty and subterfuge in favor of transparency and integrity. Thanks to Scandinavian Capital Markets, Forex traders can feel safe, protected, and supported as they become a part of the Valhalla experience. While other brokerages might treat their clients as numbers on a spreadsheet or as a profit center to be milked dry, the team at Scandinavian Capital Markets works as one help traders achieve their goals. The Valhalla Experience enables everyone to be a winner, by providing a high-end, concierge-level trading experience.

Meet Forex Expert Stephen Nefdt

Earlier this year, we spoke with Stephen Nefdt, owner of Forex Wealth in Cape Town, South Africa, became one of the first Valhalla Experience participants. With over 15 years of experience in all aspects of Forex Trading, Education and Trading System Development, Stephen knows what it’s like to navigate the murky waters of Forex trading.

While he began his career as a mechanical engineer, he became intrigued with trading at an early age. While he trained for the Iron Man triathlon and worked at several different engineering firms, he admits, “in the background, I was always trading stocks.”

Eventually, that part-time interest turned into a full-time career. “At first I became involved in consulting for banking, but eventually I decided to start looking at an exit,” he says. “Around 2005, I became involved in Forex on a full-time basis.”

What Stephen enjoys most about Forex trading is the energy. “In some instances, trading can be very boring, if not mind-numbing,” he says. “What I like about Forex is that it is very dynamic. There’s a lot that is involved. You have the global influences and other factors that cause the Forex markets to be fluid and multifaceted.”

Forex In Transition

With over a decade and a half in the trenches, Stephen is very rarely surprised with the ups and downs of Forex trading. Yet even though he’s seen it all, he is still astonished by the get-rich-quick attitude he sees. “Many people seem to think Forex trading is like accessing an ATM machine,” he says. “They don’t understand that you must put in the hard work to get results. There is no silver bullet that’s going to make them a millionaire overnight.”

For Stephen, prospering within the world of Forex requires discipline, wisdom, and practicality. “It frustrates me quite a bit,” he admits, “because, in Forex, you will never be bulletproof. You need to put in the work.”

Part of that work means putting in the effort to connect. And it was that opportunity of one-on-one time that sold Stephen on the Valhalla experience. “A lot of people seem to believe that in the digital age – with Skype and Facetime – you don’t have to see the person you’re working with face-to-face,” he says. “What I liked about my initial interactions with Arif and Michael was that right from the word go it was all about being genuine. It was about that 1-to-1 connection.”

Stephen in Stockholm

Once he got over his initial skepticism, Stephen embraced the Valhalla experience, particularly when it came to his interactions with the Scandinavian Capital Markets team. “This feeling of genuineness came through,” he says. “And in this day and age that is very rare.”

“I think what was really outstanding about the experience was meeting the people of SCM,” he continues. “What came across was the care: this is a company that actually cares about its people and their clients. They are genuinely trying to make a difference in the industry.”

“A lot of the Valhalla experience is embedded in the Swedish culture,” Stephen concludes. “It’s about doing business as ethically as possible. That you can have an honest business and still make money.”