In this exclusive interview, the CEO of SquaredFinancial, Husam Al Kurdi shares his vision of the company with AtoZ Markets. What can you expect?
July 16 2020 | AtoZ Markets – Most recently, Husam Al Kurdi joined SquaredFinancial as its new Chief Executive Officer (CEO), replacing Youssef Barakat. Having spent two decades working in the financial and banking industry, he has acquired an international reputation for developing and managing sophisticated trading companies. Husam has been involved with the launch and running of a number of successful financial institutions in Europe, Asia, and the Middle East.
Before joining SquaredFinancial, Husam was Head of Business transformation in Abu Dhabi brokerage firm ADSS, and before this was head of e-trading at MIG Bank. He joins AtoZ Markets today to discuss SquaredFinancial’s future plans, issues in the financial sector, and traders’ demands in 2020.
Exclusive interview with Husam Al Kurdi, SquaredFinancial CEO
Dzianis Kučynski: I know you’ve been involved with SquaredFinancial for some time, but what led you to take the top spot at the Forex broker?
Husam Al Kurdi: I have been in the industry sector for many years and truthfully, taking over as the CEO of a traditional forex brokerage would probably not have been of interest to me, but the Chairman of SquaredFinancial has a vision for the sector and the industry which I think is very exciting. We are in a period of time where access, fintech, and regulation are changing the way we provide trading services to a new type of retail investor. We are working for a new generation of traders who are tech literate, know what they want from financial services, but need a partner who makes trading easy.
If the trading is easy and they are provided with the support, training, and education they need they will integrate brokerage and investment services into their day-to-day financial planning. We see this as a pivotal point in the market which requires brokers to show that they are secure, reliable and provide value to clients.
Dzianis Kučynski: Tell us about the highs and lows of the CEO position. Also, what are your proudest achievements at SquaredFinancial?
Husam Al Kurdi: The high has been the opportunity to lead on the relaunch SquaredFinancial. In a few months, we have transformed the brokerage, including opening an office in the Seychelles. We have developed a new range of services and products, which has allowed us to keep our existing clients and attract many more clients.
This has required bringing in new people with a different range of skills as well as creating a very motivated and positive environment. We want to redefine the sector improving market access and returns for traders. These are very exciting, but also challenging, times and we have already been able to see the positive response from investors to our approach, which has been very rewarding.
The low point has been doing this at a time when the world has gone into global Covid lockdown. The pandemic has driven up trading volumes, but we have to be concerned about the long-term safety of our employees and our clients. As we expand the business, both geographically and increasing our team sizes, there are people I now work with on a day-to-day basis, who I have not been able to meet face-to-face yet. This a very strange position to be in, but I have been impressed by the professionalism of all our employees and partners and the way we have all been able to keep delivering and improving services. We can only try and make sure everyone stays safe and thank the essential service providers we all rely on.
Husam shares what makes SquaredFinancial unique
Dzianis Kučynski: There are many Forex brokers in the market. How does SquaredFinancial stand out within the online trading market?
Husam Al Kurdi: The dynamics of the forex markets are changing all the time as regulation, technology, and demand evolve. If I would say our USP is that we understand the new generation, gen x to z, of clients, and are dedicated to providing the support and services they need. This is based around instant, informed, and easy access to the full range of trading products they are looking for. These have to be delivered within a secure environment and offer independence and value to the traders.
“Our job is to make the trading process easy and accessible and provide the support and training investors need.“
In addition, we know that investors are looking for trading partners who offer high-quality fintech in all areas of the investment process from price acquisition through to payments in and out. Our job is to make the trading process easy and accessible and provide the support and training investors need.
Dzianis Kučynski: Every year, there’s a black swan event or a crisis, like now with the Coronavirus. How well-positioned is SquaredFinancial to deal with such events and crises?
Husam Al Kurdi: Brokers are used to change. In the last ten years, we have seen the financial crisis, the SNB crashing the market, the arrival of cryptocurrencies through to ‘boom and bust’ stocks. The sector is very skilled at identifying and managing risk and like other firms, we put a lot of time and effort into modeling out risk profiles in relation to the different regulatory regimes where we operate.
We have invested, and continue to invest in, the people who have the knowledge and experience to be able to manage Black Swan events. This is core to the way that SquaredFinancial operates.
SquaredFinancial’s future plans
Dzianis Kučynski: Looking further into the future, what are the plans of SquaredFinancial?
Husam Al Kurdi: At the moment we are focusing on the brokerage side of the business, but we will, very quickly, expand to offer a wide range of investment services.
The short-term objective is to bring on a new product or suite of products each month so that we can build up our coverage as well as offering innovative investment options for our clients. We have invested in our new product development area, as we see this as essential to the overall service we offer.
In the mid-term, we are also looking to acquire an e-banking license so that we can improve the payment process for clients by developing the equivalent of tier 1 bank services. This will increase our client’s security of funds, as well as transparency, and potentially give other brokers an economically viable payment system.
This concludes the interview with the SquaredFinancial CEO. Do you have any questions for Husam regarding their services and Forex trading tools? Let us know in the comments section below.