ATFX uses blockchain to help clients verify IBs and vice versa
ATFX said it has been working on the IB verification project for a few months.
ATFX has introduced a new blockchain-powered ID verification process that aims to facilitate trust between clients and introducing brokers (IBs).
Based on a proprietary blockchain network built by the company’s IT team, ATFX’s blockchain verification technology is revolutionary since it allows potential clients to verify through blockchain whether an introducing broker (IB) is registered with and authorized by the broker.
The new system is two-pronged in that it also allows IBs to verify the status of the referred accounts.
Harnessing blockchain to enhance operations at ATFX
The FX and CFD brokerage firm boasts other innovative approaches to onboarding and identity verification, namely automated verification of new client accounts using facial recognition software. The broker was also among the very first firms to introduce the electronic signing of documents by its clients.
Now, the fintech-based broker is harnessing blockchain technology on a proprietary level in order to enhance its operations. It has been working on the IB verification project for a few months.
By using a blockchain network to verify its IBs, ATFX can guarantee that malicious actors can never alter the records due to the immutable nature of blockchain transactions. Opening the records to prospective and current clients makes it very transparent, making it a real trustable trading environment ATFX’s clients.
ATFX is a renowned FX and XFD broker with a global presence offering customer support in over 15 languages. With over 300 tradable financial assets, including currency pairs, precious metals, energy, indices, and shares traded as CFDs, ATFX is regulated by the UK’s Financial Conduct Authority (FCA), the Cyprus Securities and Exchange Commission (CySEC) in Cyprus, the Financial Services Commission (FSC) in Mauritius, and the Financial Services Authority (FSA) in Saint Vincent and the Grenadines.
ATFX in new phase of growth
AFTX has recently hired Khaldoun Sharaiha as Head of Operations in the Middle East and North Africa. He joined the broker from ADSS, where he spent three years as the head of global sales at Abu Dhabi based firm. That was preceded by a four-year tenure with its former brand, ADS Securities, which took his career between 2013 and 2017.
Other stops include senior stints at Equiti, where he served as their Jordan CEO. Khaldoun has previously worked at Geneva-based Dukascopy bank for five years where he climbed through the ranks from a relationship manager to head of MENA operations.
ATFX revealed that its trading volumes increased “significantly” in the early part of 2022 and expanded activities during the year, supported by the development of its institutional brand, ATFX Connect.
ATFX has entered into a new phase of growth, which saw the broker expand its geographical footprint across Asia, as well as enhance its product offering, focusing on localization.
The company has been in an aggressive hiring mode at present having recently onboarded Telmo Simoes as its Managing Director of Institutional Sales for ATFX LATAM, and Phil Muldoon as Sales Director of Institutional Sales for ATFX UK.