Breinrock

Ask Iva!

IVA BOGICEVIC

Breinrock

Game Changers Magazine is incredibly pleased to speak with banking genius Iva Bogicevic from Breinrock, to pick her brain about how many of your brand’s problems can be solved. Iva has taken the time to answer your questions about how to solve the often complex relationship between a banking solution and your institution.

You can also meet up with Iva at the upcoming iFX Expo in Limassol, who will be at the Breinrock booth where you can find out more about their services. Alternatively you can contact both her and her colleagues via breinrock.com.

Dear Iva,

How can I solve my brand’s offshore banking headaches. Opening a corporate bank account with a reliable banking partner can be almost impossible. Also, how can I check that a banking partner is reliable? Thanks. Spiros. Limassol.

Dear Spiros, I feel your pain, this is a common story we hear for most of our new clients. Over the past several years conducting any offshore CFD business and facilitating solid banking relationships has been incredibly challenging. With what seems like almost daily new restrictions being placed on business activities, leading to those operating under an offshore umbrella finding themselves in a highly restricted banking environment. The offshore CFD industry has been forced to look at what were several years previously considered to be unorthodox methods, using what some may consider to be unsafe transfer methods.

With the majority of offshore brokerages offering a solid trading solution to their clients, they have been tarred with the rush of those who may chose a different path, By moving offshore, this has been perhaps because of the lack of flexibility of the regulator in reducing such things as leverage to name but a few of their criteria. One challenge we have found when discussing with new clients is that previously they had logistical challenges in finding their account to their liquidity provider, who could accept transparent payments from an offshore brand.. This may have resulted in them having to use third parties or in some incredibly extreme cases having to credit from a personal account, this is not a viable solution to a long term business for obvious reasons. Since our inception, Breinrock have been incredibly proud of how fast LP’s and brokerages alike have become clients of ours. Our liquidity access network allows those who have an offshore brokerage open an account with Breinrock, and we can send transactions to your LP in seconds.

Moreover, if they are already a client of ours this will dramatically reduce the transaction charges for those involved by using the Breinrock banking ecosystem. Furthermore, if your LP does not currently have an account with Breinrock currently, we can onboard them in a short space of time. For your peace of mind, prior to opening an account with Breinrock, we can have an informal discussion regarding how we can help you streamline many aspects of your offshore business banking needs. This will help you not only with your FX liquidity needs, but also other business related transactions that will need to be conducted using our industry leading network of AAA rated banks.

In case you are not aware, Breinrock is an Electronic Money Institution (EMI) regulated in Canada, with offices in Toronto, London and Limassol. As an industry, EMI;s are being used and seen by many as replacing many of the functions of traditional banking. Although there have been many EMI’s that have been developed over the past several years, one challenge that they have found is that if they are regulated in some regions they can only

accept 5% of their clients being high risk. This can lead to many headaches for the client as they can never really have a truly secure relationship with their EMI, for fear of being asked to maintain a large amount of transactions to stay in that 5%. At Breinrock, we solve this issue with our multiple relationships with AAA rated banks that put us above our peers. Moreover, based upon our research, aome EMI’s usually have one or two banking relationships which in all probability will lead them to having problems facilitating transfers for high risk business. This has led to a number of providers offering solutions that may appear to be stable, however the challenge of using them could be high as they cannot mitigate the risk when it comes to the banks and your funds. Having recently won the award for best EMI at the B2B Forex Awards, we saw this as a tremendous validation for all our work we have carried out with our partners since we started Breinrock.

Although some may consider us to be a relatively new brand, our management team has a huge amount of experience working in the banking sector, where our speciality is within B2B banking, Family Offices and UHNW clients. More recently we have looked to expand our coverage into brands that trade CFDs to offer them a solution that can take advantage of our AAA rated banking relationships. As a business we pride ourselves on discretion, transparency on letting you know if it is possible, along with speed in completing the account opening. Our staff understand that once the relationship begins, we are looking to offer you ideas on how to streamline your banking to something that is more advantageous to your business., Small set up fees on accounts and low transaction. If you are an LP or offshore brokerage looking to facilitate clean and transparent payments, join the ever increasing client base who are now choosing Breinrock to maximise their business. Moreover, you can meet us at the upcoming iFX Expo in Limassol, or visit our Limassol office for an informal consultation on how to optimise your banking. Kind regards, Iva Bogicevic