Transparency in Managed Accounts: an interview with Galacticks CEO Scott Glover

The dynamic nature of the Forex industry embraces new entrants to the business as an opportunity to evolve, more knowledgeable, more efficient, more accessible. With than in mind, FinanceFeeds met with Cyprus-based account management service Galacticks, a company which also has satellite offices in the UK and Dubai, to take a look at what may come next in this particular sector.

Ricardo Esteves of FinanceFeeds today spoke to Scott Glover, CEO and Co-Founder at Galacticks in order to detail the ethos of the company.

Mr. Glover gained substantial experience establishing sales and affiliate (IB) teams in Cyprus with some major FX companies and decided to venture with his own Forex service recently.

Galacticks is a newly established company that provides commercial and industrial hedging and risk management as well as the Galacticks Managed Account Program. What makes your product unique in the midst of a mature Forex industry?

Galacticks was formed with the simple idea of utilizing low risk, conservative traders. We have been involved with many different Forex companies and have been tired of watching our dear clients lose their money from not having the time or experience to trade for themselves. We are relatively new on the market for Managed Accounts, however our team has been involved with all aspects of FX related issues, from Risk management to sales and back office.

What makes us unique is our solid transparency and honesty, we will not promise massive monthly returns as most managed accounts companies will do. Our traders are head and shoulders above the rest and I have the utmost confidence in them.

How are you dealing with all the competitors out there offering substandard managed discretionary trading?

To be honest we are not particularly too interested in our competitors, past a certain level of mutual, comparative standards. We are focused on our customer service and simply doing our thing. We are not too impressed with the way certain companies have operated in the past so we look in one direction and do not follow those previous.

This industry requires businesses to be always on top of the game and upgrading themselves. How is Galacticks doing in the innovation department?

I can’t stress the importance of customer service and transparency; all of our clients are like family members and most have all of our personal contact information if they need to contact us at any time. The other important factor is having a trader that is solid and does keep a cool head when trading, keeping things conservative and low risk as possible.

Where are you headed in the future?

After being in the Forex industry for a number of years now, I can safely say that after opening Galacticks, this is the first time that I am actually proud of what we are doing for our clients and I believe the future will be bright. This for us here at Galacticks is a long term commitment to us and our clients.

FinanceFeeds found that Galacticks offer their services on deposits higher than $10,000, placed into the multi-account manager (MAM) provided by CySEC regulated Prime Brokerage TopFX. Solid transparency and low risk are the keywords to keep in mind.