An Interview with BPForex

What is your name and position?

The Company BPForex is founded in November 2005 by Mister Szabolcs Tornyos; he is the owner and managing director.

What is your professional background?

Mister Szabolcs Tornyos has been active in the internet and communication branch and is a private trader for over 10 years.

Who are your targeted audience?

Our audience is mainly the self directed trader, we cater to all from beginner to experts, we also cater to institutional clients.

Is your main focus of your business online or offline?

As an online trading company the main focus is online.

Why should a trader choose BP Forex over another broker?

BPForex is a company that does not only tell clients they have a great service but also delivers this. We have an educational online trading room that educates people and assists them in finding trade setups. We have a no dealing desk principle that gives clients fair execution of trades. We offer over 2000 products to trade on and assist clients to become more successful. We offer online education and trade together with clients from 07.00 in the morning until 21.00 in the evening.

What advice do you have for someone who is just starting to trade the forex market?

Don’t be lured into offers that sound to good to be true, like big bonuses if you open an account and fixed small spreads. These marketing slogans always should make you aware. If brokers can offer you all for almost nothing they must earn back these gifts. This will mostly be done by an aggressive dealing against clients. Try to avoid offshore and Swiss brokers as regulation is not always to good towards the clients situation.

How different is the forex market today from what it was 2 years ago?

The FX market is one of the most difficult markets to trade; we can see bigger moves then 2 years ago and a bit wilder behavior.

Do you also offer Fund management services?

No, we don’t, we feel that FX managers often come in 2 types. Commission based managers that trade a lot for personal income and very careful managers that due to their carefulness don’t really perform.

Who are the main competitors of BP Forex in the on-line Forex market?

Main competitors are the bigger names, however we don’t really feel this, and we operate mainly on the local market in Hungary.

What do you think about Forex scam problem in the on-line Forex brokers market?

Clearly the CTC and NFA need to further regulate the FX markets. In the mean while consumers need to be careful and check their broker before opening an account and stay away from big bonus companies.

What advice do you have for someone who is just starting out in the forex market ?

Read contracts very good and try to find out how their business policy is.

Where do you see BP Forex 2 years from now?

BPForex is growing very rapidly mainly by word of mouth, our locale presence and international presence is being noticed more and more. Our future plans are to continue the way of offering honest business and ECN / STP solutions.