MerexMarkets is a money management company that aims to provide the best foreign exchange (Forex) managed accounts to retail and institutional investors through an automated trading system. The Daily News Egypt interviewed Ehab El-Saadany, MerexMarkets’ Marketing Manager, to identify the company’s future plans and the challenges they are facing in Egypt.
Firstly, can you define the idea of MerexMarkets?
MerexMarkets is a money management company with an automated trading system that works strictly in the foreign exchange market. We offer portfolio management services for a wide range of clients.
When did MerexMarkets start operating in Egypt? And what are the other countries you operate in?
We have been operating in Egypt since 2006, with further operations in more than 56 countries around the world. We also have offices in countries such as Georgia and Romania, and we also have liquidity providers in Cyprus, Australia and Switzerland.
What do you think is the difference between MerexMarkets and other foreign exchange firm?
There are many differences; for example, we have no commissions, no swap and no managerial fees. We also have many deposit and withdrawal methods, and we provide 24/7 customer support and full transparency in trade transactions.
What is the Portfolio Management System that you provide?
Forex as a business has a very bad reputation in the Middle East due to un-experienced traders, who lose a lot of money. That’s why MerexMarkets came up with the idea of “Portfolio Management Systems” as a solution for those investors lacking the necessary time or experience to trade.
How can the Management Systems help inexperienced investors?
MerexMarkets Portfolio Managed Accounts are types of Forex accounts in which the money management system is trading the account and managing risk on a client’s behalf. More than 95% of traders who trade by themselves are subject to marginal call within a month of opening their account, while at MerexMarkets, we manage funds and have control over involved risk.
How can someone test the performance on the Portfolio Management System before starting?
MerexMarkets offers Demo Managed Accounts, which are an excellent opportunity to evaluate and appreciate the advantages of the company’s portfolio management system. The client is given the chance to observe all the trading activities as well as the placed trades. All the funds are well-managed, and all risks are well-controlled. You can also observe account performance in relation to the market.
What are your plans for this year and the coming year?
We are on the right track of being the market leader in the Middle East and North Africa in the field of portfolio management. MerexMarkets won the award of “The Best Portoflio Manager” and “Best Automated Trading System” in the 2013 and 2014 MENA Forex Expo and in the Jordan Forex Expo.
Continuing our success, we will participate in the 2014 Africa Forex Expo in South Africa, the Middle East Expo in Kuwait and the Turkey Forex Expo.
How do you evaluate the foreign exchange market in Egypt compared to the Middle East’s?
The Egyptian market is a rich market, but it is very prone to rumours. On the contrary, foreign exchange trading is common in the Gulf region and it provides traders with high returns.
What are the difficulties you have faced in the Egyptian market?
The nature of the Egyptian investor himself, who tends to be very sensitive to rumours, is a problem. There is also a bad history of a couple of companies that scammed investors, which made it harder for a new foreign exchange company to penetrate the market.
How do you assess the CBE’s strategies to maintain the value of the Egyptian Pound?
We are not concerned with the Egyptian market; however, after restoring the political stability, foreign investments will return and the value of the EGP shall be kept.