Note from the editor O1
View from the top. 03
Viktoria Soltesz O2
PSP Angels. 04-05
XS O3
Revealing the X Factor of XS.com 06-11
David Nussbaum O4
Skale. 12-14
Views are my own O5
15-16
Kelly Yount O6
17-21
Lola Negmatova O7
22-24
Andrew Mreana O8
Spotware. 25-27
Dora Christofi O9
Orbex. 28-30
GC: EAT 1O
Bistrot 55. 32-35
GC:MIND 11
Onewell. 36-39
GC: HOMME 12
LOEWE. 40-41
GC: FEMME 13
LOEWE 42-43
GC:LIFE 14
REDDI app. 44-48
Writing this after a well earned break in what seems to be an endless summer of incredible heat, it is the time of year I have grown to love and hate with equal measure. Coming from a cold country, the heat is always something I have embraced, having had a number of crappy jobs at school that entailed working outside in the bleak English winters.
They say things like this are character building, as I was always thinking that there must be a better life than freezing to death for a living..When you are 14 doing a job or having a career in something you at least tolerate seems so foreign and far off. Fast forward quite a few decades it’s strange how things work out.
It’s great to have a new brand feature on the cover of Game Changers Magazine. We have seen XS make a huge splash in the market since their inception this year. Based upon our research , they look like a great brand to be added to the thriving Middle Eastern CFD ecosystem and to work with on a personal level.
By the time that this edition is live, we should have heard if we have won the award for best media provider with Holiston Media. Thanks to everyone who voted for us, each vote regardless of us winning is very much appreciated...fingers crossed.
Enjoy the last few weeks of summer!
Paul ORFORD
Stablecoins are everywhere nowadays. We are using them to hedge against the volatility of our crypto portfolio, to try new things out or perhaps because we are losing trust in the traditional monetary system. Either way it is a very easy and convenient way to send money in a cheaper, quicker and “less regulated” way. The Blockchain never asks for invoices or for contracts which could be the burden when we are dealing with traditional banks. Opening a wallet and start accepting these crypto assets can be also much easier when we don’t have to wait for weeks to prove our identity to the banks.
When I was studying economics at the university, I remember, that there was one lesson about the dangers of counterfeit cash. The loss of confidence in banknotes can have serious economic and social implications as this was demonstrated in Somalia in 1991. When the country was plunged into a devastating 20 year long civil war, the country as left without a functioning government. Since the people still needed a way to trade and use a payment system, they flooded the market with counterfeit money. Even though these counterfeit notes were easily distinguishable from genuine currency, they were accepted at face value. This widespread acceptance of counterfeits led to a significant decline in the currency’s value, where each note worth only a few cents. Today, the Somali shilling supply is a mix of both legitimate and counterfeit banknotes accumulated over the years. Shockingly, approximately 95 percent of the local currency in circulation is counterfeit, representing the prevalence of this issue.
Circulating fake currency in the enemy’s country was also used as a warfare technique. During the American Revolutionary War Great Britain wanted to breakdown the economy by destabilizing the economy by reducing the value of the Continental Dollar. The counterfeiters were known as “shovers” as they could literally “shove” fake currency into circulation.
To understand the issue, we need to learn how Central banks conduct monetary policy by adjusting the supply
of money. Introducing “new money” into our economic system has several dangers if not done right.
Today the traditional USD based monetary system runs on the people’s confidence as its regulated and safeguarded. The USD is backed by the biggest economy of the world and controlled and managed by the USA’s Federal Reserve (FED), providing a sense of security. The Federal Reserve carefully regulates the flow of funds everywhere by enforcing certain regulatory checks via the banks. This regulation is also a reason why we cannot buy any illegal services or products online. It’s not because of the lack of supply. It is because of the lack of payment providers who are facilitating the transactions.
The dangers of the counterfeit money are similar to the stablecoins. The USDT’s 1:1 value to USD means that people have now the alternative to transfer value between each other bypassing the carefully constructed monetary policies. The current circulating supply of Tether is 83B, where the USD is around 2.5T, which means we potentially have a totally unregulated, and unaccounted money flow of 3%. This can undermine the integrity of the financial system and poses a significant problem.
Monetary policies play a crucial role in influencing interest and unemployment rates (think about the good old Philips curve) among other economic factors. Introducing new money into the system without the approval of the FED dilutes the value of the currency by creating an excess supply of money, inevitably leading to inflation.
Stablecoins, while leveraging the security of the USD, circumvent financial regulations which can potentially undermine the stability and integrity of the monetary system as well as the effectiveness of monetary policies. When stablecoins like USDT are used as an alternative to traditional USD, without the necessary oversight, people can engage in transactions without adhering to taxation regulations, leading to potential tax evasion.
It is crucial to strike a balance between fostering innovation and safeguarding the stability of the monetary system. Arguably, it is not the best system, and of course, there are numerous ways of improvement. However, this system is the final result of thousand years of creative tax evasion techniques, scammer schemes and market abuse behaviours (which we clearly see being repeated in the crypto markets).
With the right amount of regulation, we can mitigate the risks associated with stablecoins and ensure that our economy remains secure, transparent, and accountable. Only then can we use stablecoins with confidence and protect the well-being of our economy by embracing a future where innovation and stability go hand in hand!
XS.com has taken the global news and international media world by storm since the beginning of this year. This is due to the number of online trading professionals and financial market veterans joining the global fintech and financial services provider. The global multi-asset broker, established in Australia in 2010, has grown into a market leader in the FinTech, financial services, and online trading industry. In this edition of Game Changers Magazine, we delve into the world of XS.com, a company driven by the power of people and firmly believing that individuals are the X factor in their success. When referring to people at XS.com, they are not just talking about their exceptional employees but also traders, partners, and every member of their dynamic community. In this edition, we had the privilege of speaking to esteemed leaders who hold key positions at XS.com to reveal how their people-oriented values are reflected in different areas of the business.
Andreea Ilies, a seasoned veteran with extensive experience in the industry, serves as the talented Global Head of Events at XS.com. With a remarkable track record of achievements and an unwavering commitment to excellence, she has earned prominent recognition in the events industry. Leveraging her expertise, Andreea focuses on producing impactful worldwide events for XS.com, meticulously crafting experiences that directly connect traders, partners, and executives. Her aim is to foster valuable connections and deliver vital information, ensuring participants benefit from her wealth of experience and industry knowledge.
Q: How do you foster a sense of empowerment among event attendees and XS team?
By curating engaging events that prioritize interactive sessions, networking opportunities, and direct access to XS industry experts, we empower attendees to take charge of their learning and professional growth by asking questions directly to XS leaders and creating personal connections. We create an environment where everyone’s ideas and perspectives are valued, fostering a sense of empowerment among event attendees and the XS team.
Q: How does this philosophy of creating personal experiences reflect in your role?
As the Global Head of Events, I am dedicated to making each XS.com event a memorable experience for attendees by showcasing the faces and personalities behind our organization, the people who make XS what it is. Through this approach, we aim to create a personal and lasting impression on all participants. As part of my role, I strive to infuse the essence of personal experiences throughout the event planning process. From selecting speakers and panelists who can share their unique perspectives to curating immersive activities and interactive sessions, my aim is to create an environment where attendees feel a genuine connection with the XS.com community. By focusing on personal experiences, we can inspire and empower individuals, leaving them with a lasting impression that goes beyond the event itself.
Chanelle Tsoka, a renowned professional in the financial industry, is widely recognized for her exceptional talent in building strong client relationships, providing exceptional customer service, and driving successful partnerships. With nearly 10 years of experience in the FX industry, Chanelle’s dedication to delivering exceptional customer service sets her apart, as she goes above and beyond to understand clients’ individual needs and tailor solutions that exceed expectations. Additionally, her ability to forge successful partnerships, leveraging her strong interpersonal skills and identifying synergies, has resulted in numerous fruitful alliances and business ventures. With her wealth of experience and unwavering commitment to excellence, Chanelle Tsoka continues to make a significant impact in the FX industry with XS.com
Q: How do you foster a strong sense of confidence and trust with clients?
Fostering a strong sense of confidence and trust with clients isa top priority for me. I achieve this by actively listening to their needs, understanding their unique circumstances, and providing tailored solutions that align with their goals. I make it a point to offer ongoing support, ensuring that clients feel supported throughout their journey, no matter the challenges they may face. By being a consistent and reliable partner, I aim to instill a sense of confidence and empowerment in our traders and partners, enabling them to make informed decisions and achieve their individual goals with certainty, something that is XS mission from day one.
Q: What can traders expect from XS?
At XS, our commitment to empowering traders is at the core of everything we do. Traders can expect a comprehensive trading experience that goes beyond the traditional brokerage services. We provide them with access to cutting-edge trading technology, a wide range of financial instruments, and educational resources that equip them with the knowledge and skills to navigate the trading landscape successfully. Furthermore, we prioritize building long-term relationships with our traders, offering personalized support and guidance tailored to their specific needs. By consistently delivering exceptional service and fostering a collaborative environment, we ensure that traders feel supported, informed, and empowered to seize opportunities and achieve their trading objectives.
Stephanie Michael, the esteemed Global Head of HR at XS.com, possesses extensive experience in empowering employees, hiring exceptional talent, fostering innovation, and promoting individual autonomy in their roles. With a proven track record in HR leadership, Stephanie has successfully cultivated a culture of motivation within the organization. Since joining XS.com, Stephanie has leveraged her expertise to hire industry veterans, further strengthening the company’s capabilities and fostering a culture of excellence within XS.
Q: How do you foster a culture of motivation for XS?
By cultivating a culture of trust, providing professional development opportunities, and fostering an inclusive work environment, we empower our employees at XS to take ownership of their work, explore new ideas, and make a meaningful impact. After all, XS’ core is our people! Through these initiatives, we foster a sense of empowerment, driving motivation and fueling innovation among our workforce.
Q: How does this commitment reflect in your role as the Global Head of HR at XS.com?
As the Global Head of HR, my primary focus is on creating an environment where every individual feels empowered to contribute their best work, lead initiatives, and shape their career paths. This commitment to empowering individuals resonates throughout our HR practices, such as talent acquisition, performance management, and employee development. By providing the necessary support, resources, and opportunities, we drive employee growth and excellence, enabling them to thrive in their roles and contribute to the overall success of XS.com
XS visionary Marketing Director, Nihal, plays a pivotal role in pushing information about XS globally, engaging with traders digitally, and creating an approachable brand presence. Nihal oversees the development of marketing strategies and plays a crucial role in executing successful marketing campaigns and branding techniques. Her passion for inspiring and leading teams has earned her recognition as an exceptional leader in the fintech industry. With a wealth of experience spanning over a decade in the marketing field, Nihal Al Sayah brings a deep understanding of market dynamics and consumer behavior, enabling her to drive impactful marketing initiatives that resonate with XS’s target audience.
Q: How do you engage with XS.com traders through your marketing strategies?
At XS, we hold our clients in the highest esteem, embodying our appreciation through the delivery of pertinent and enlightening content, the adept utilization of diverse digital mediums for seamless communication and engaging interactions, as well as the dedicated cultivation of a consistently responsive, approachable, and encouraging brand persona, ultimately empowering and equipping XS traders with the knowledge and confidence to make well-informed choices, thereby fostering the establishment of a resilient and meaningful affinity between traders and XS.com
Q: How does this reflect in your role as the Marketing Director at XS.com?
As the Marketing Director for MENA, my primary role is to develop and execute marketing strategies that resonate with our target audience and support our traders in achieving their financial goals. I am dedicated to empowering traders by providing them with valuable insights, educational resources, and a seamless user experience. This commitment is reflected in all our marketing initiatives, whether it’s crafting compelling campaigns, optimizing our digital presence, or enhancing our brand messaging. By building trust, delivering relevant content, and fostering engagement,we aim to strengthen our position as a trusted broker and ensure that traders feel supported and empowered in their trading journey with XS.com.
Gywen Goh is a seasoned finance professional with over 12 years of experience in financial services. As the Business Development Team Leader - APAC at XS.com, she plays a crucial role in driving successful collaborations and fostering business growth. With an unwavering commitment to excellence and a deep understanding of client needs, Gywen is known for her ability to build long-lasting, strong client relationships based on trust. Her strong leadership skills and dedication contribute to XS.com’s continued success in the APAC region.
Q: How do you establish strong relationships in your business development role?
In my role as the Business Development Team Leader - APAC, I go beyond merely understanding the unique needs and goals of traders and partners. I actively listen to their concerns, challenges, and aspirations, and leverage this understanding to empower them with tailored solutions and personalized support. By maintaining open lines of communication, offering guidance based on market insights, and fostering a collaborative environment, I strive to build relationships that are built on trust, transparency, and mutual respect. Through consistent engagement, proactive problem-solving, and a genuine commitment to their success, I aim to establish strong and enduring relationships that go beyond transactions.
Q: How does this commitment to empowering individuals resonate for you?
As the Business Development Team Leader for APAC, my commitment to empowering individuals is at the core of everything I do. I firmly believe that when traders and partners are equipped with the right knowledge, resources, and support, they can achieve remarkable success. This commitment resonates deeply with me as I witness first and the transformative impact that empowering individuals can have on their trading outcomes and overall financial well-being. By providing them with valuable insights, educational resources, and exceptional service, I am dedicated to supporting their growth, enhancing their trading experiences, and building strongpartnerships based on trust, mutual success, and a shared vision for long-termm prosperity.
Q What was your background prior to Skale?
I am a qualified Electronic Engineer, with a masters in Robotics and Electronics. I began my career in London where my first job was working as an electronic engineer at BAE Systems working on aeronautical defence systems. I moved over to the financial world and worked for Reuters. I worked there for three years, starting out on their graduate Technology Management Program that focused on management training in a Fintech environment. I worked on the various Reuters trading platforms and completed my time at Reuters as a Product Manager, working on their post trade notification system (RTNS), combining back office company management along with transaction management solutions for the leading Market Makers.
I’ve always been interested in fintech so when I emigrated from the UK to Israel in 2006, I continued my career in this field, working as a Product Manager for a number of different companies including TraderTools and SuperDerivatives, focusing on forex trading and derivatives trading.
I was excited by the buzz in Israel around technology for startups and in 2010 set up my own software development business designing and building SaaS solutions for multiple different startups. Using my experience of designing products my clients saw me as the bridge between understanding what their business needed and being able to translate this into products some of which went on to become large SAAS businesses.
As the business grew we focused our development resources on integration solutions for brokers. The business quickly took off and with this growth we had a number of challenges which needed to be addressed. Firstly, we were doing the same integrations and a lot of bespoke work for all our clients and it was typically taking at least two months to launch a broker. In addition, once launched, every broker wanting even a minor change to their setup needed us to work on the configuration on their behalf – and they wanted these changes to be done immediately, which was very demanding on our time and not always possible to deliver. I knew we needed to alter our model and productise our offering to make it more efficient and scalable – and that is when the business evolved into Skale in 2017.
Q What was the gap in the market you spotted when creating Skale?
I spotted a gap in the market to develop an enterprise grade CRM and client portal for FX brokers of all sizes which is easily customisable by brokers themselves.
Skale’s platform is a SasS solution so brokers can get up and running very quickly. It is pre-integrated with the FX market’s leading broker solutions; including trading platforms, payment service providers, KYC tools, marketing tools and business intelligence tools, giving clients the flexibility to seamlessly connect to a wide variety of technology providers and tools to grow their business and manage workflows for sales, retention and marketing. It also streamlines onboarding and KYC.
I’ve had great ambitions for the business from the outset. My fintech background and my experience of working with large firms gave me the confidence that we could provide a solution that was better than what was already out there – and we have continually evolved the product to focus on being a frontrunner in our industry.
Q What were the biggest lessons you learned from your early period of running the business?
I learned about the importance of having a reliable, robust solution. The system needs to work 24/7 and any problems which arise need to be solved immediately. The financial services market is very unforgiving in this area – and rightly so! Reliability is absolutely key.
I also learned that clients wanted a trusted partner –someone with industry knowledge who can provide impartial advice.
Overall, I realised that if you can deliver a strong product, with high levels of service and always operate with integrity then there are significant opportunities for growth.
Q How have you managed to differentiate from other CRMs?
We never wanted to develop our own trading platform so when we launched Skale’s CRM and client portal, we were competing against providers offering a full solution. We have managed to stand out by creating a really clear offering which sets us apart from these full solution competitors – a plug and play solution which is platform agnostic and technology provider agnostic, giving brokers the flexibility to select from a large number of pre-integrated components from marketleading providers, and adapt their choices easily as their business evolves
Importantly, we have built our platform to suit large enterprises operating across multiple jurisdictions, with high volumes and lots of different depositing options. This means that not only does our platform have to be highly customizable, it’s a high-performance system, with bank-grade cybersecurity, which works well under pressure and can cope with huge demand from a broker’s clients, such as a large number of leads coming into the systems and significant numbers of clients registering.
Skale also stands out because it is much more than a CRM solution – and the breadth and flexibility of our offering is also what appeals to clients. In addition to our CRM, we have a backoffice suite and client portal which is essentially a traders’ area, accessible via any device, where clients can sign up, be fully onboarded and deposit and manage their account. This provides traders with a seamless experience and helps to drive customer loyalty.
Q How do you sum up your platform in three words?
Self-managed, stable and secure.
Q Where are you clients based and what type of clients do you attract?
We started out with clients in Eastern Europe but quickly grew our client base worldwide. Our clients range from start-ups through to institutional, regulated multi-national brokers.
Given the security, scalability and functionality of our platform, our core client base consists of established, multi-jurisdiction brokers, with million dollar plus monthly deposits, who need enterprise grade solutions to operate efficiently in a highly competitive market.
Q What has been the secret to your success to date?
Having a strong, reliable product and providing high levels of service to clients, with a quick turnaround in terms of client support. This has resulted in high client satisfaction levels and has enabled us to grow the business via word of mouth and through our partners. We have been able to raise our profile by attending and being invited to speak at the main industry conferences which has been a catalyst for further growth.
Q What are the biggest barriers you come up against from brokers who already have a CRM and how do you address this?
The biggest barrier always relates to migration. We often speak to brokers who found it very convoluted, time consuming and challenging to get their current CRM set up and fully integrated. Now that they are set
up and things are running relatively smoothly, they don’t want to go through that pain again.
When potential clients see how easy the Skale setup is, how much functionality we offer, however, they see their concerns of migration is outweighed by the advantages they get from moving over. The fact that Skale’s CRM is pre-integrated with such a breadth of third party providers - in terms of trading platforms, trading tools, payment service providers, KYC tools, marketing and business intelligence tools gives clients the reassurance that the integration will be smooth across all aspects of their trading operations and their business processes will become more streamlined and efficient.
Our system is available immediately for them to use. It only takes a few hours to connect to the broker’s trading platform of choice and then, depending on the complexity, between one day and 2 weeks to be up and running with a fully customised solution.
Q How do you describe your business ethos?
We always treat our clients with the same respect and commitment that we have for our own business. And we always go out of our way to make sure our clients can run their businesses effectively, even when it means going beyond our remit to help them.
Q What’s the best way to reach you for more info?
Please email sales@skalecrm.com and we will be very happy to provide you with more information.
At GC we get sent so many ideas by the readers we meet and told that they would love to write about certain subjects. However, they fear losing their job or offending somebody who thinks they are someone!
In the spirit of independent journalism, Game Changers bravely meets the downtrodden and unheard in the dark bars of Limassol, where they tell us their thoughts under the influence of both anonymity, alcohol and some fantastic finger food.
Let us know what you would like to talk about.
Have you ever lived with someone and experienced a break up after a long, successful and loving relationship.then sadly when harder times come along you both cannot stand the sight of each other and have to break up the relationship. With housing becoming more and more expensive (or psychopathic need of wanting to make the other person thoroughly miserable) you have to remain living together in the same house, until the situation changes or restraining orders are put in place.
Sure this was a very flimsy analogy, however this really does highlight the current situation that we find ourselves with regarding CySEC issuing licenses and accommodating the CFD industry in general. With this industry probably bringing in billions of euros to the local economy over the past 15 years in the way of salaries, taxes and let’s face it money laundered locally into real estate, it now looks like what was a marriage made in heaven, now becoming the break up which could be described existing somewhere between between purgatory and hell.
If anyone over the past year has had the misfortune of trying to obtain a CySEC license, they find themselves in the weird position of being granted the license on the condition of obtaining a ‘real’ bank account. How-
ever, because of the nature of the CFD business, no local bank will offer them an account unless they produce a family tree going back over the past 200 years along with the blood groups of the entire management team. The bank will no doubt take a sizable administration fee for the incredibly hard and physically demanding work of sending a couple of emails between departments. Only to be told that we have had some new ransom internal policy changes and will not allow them to open your entity an account.
This in itself is weird as they could tell them before accepting the administration fee, moreover the transactions that they will be using it for are for payroll and B2B transactions that are all documented in the account opening process. It is never the clients funds, as trading FX for many european based clients under EU restrictions is pointless as they take the offshore option . Moreover, their offshore entity will have less of an issue opening a solid banking solution with an EMI.
Apart from the dreamers / delusional people entering the industry and believe they have a revolutionary business model of taking only european based clients based on an STP. Is this jurisdiction of any use when most of the industry is moving to Dubai, where it seems to be far more flexible, as long as you don’t go crazy and blow up all your clients.
It would be wrong to assume that the CFD industry is faultless based on years of making life harder for itself, (blowing up clients accounts) and that this is a pity party blaming the banks for all the ills of the industry. However, how is it possible to have a locally registered fund that has the ability to use an EMI and obtain a license, whilst the CFD brand struggles to open an account with a local low performing bank.
Will someone just grow some balls in the regulator and just say the party is over, we can start creating a new bubble, so we can start charging inflated consultancy fees for as the CFD industry is now dead.
I didn’t think that the online trading industry could go any lower than a Comoros registered brand offering expert / influencer related trading advice. How wrong I was when I discovered the world of prop trading. When I first saw these two words combined together, I got rather excited (simple things make me happy) that the FX industry was going to focus on bigger ticket clients, as this is what proprietary trading is right? Based on my limited knowledge it usually involves a licensed and experienced trader who has a good understanding of the online trading, executing using low leverage and lower risk looking for long term trades.
My silence was deafening when I was told that we teach people to trade and they pay some form of subscription / training fee which is usually for the princely sum of around 500 USD a month. Having listened to many bores who ask you to ‘pluck low hanging fruit’ when you join their sales department. Surely this is the fruit that if you eat it is going to make you very sick.In an industry that encourages quick money marketeers to take advantage of people who are either looking to learn a skill, or who are desperate to make changes to their life (in a positive way) it looks like we have another way for the bottom feeders to peddle a new product.
Simple minded marketers, who have long been put out to pasture will be dusting off the old ‘how to trade’ pdf’s from 15 years ago, and get ready to promise to your clients that a new Ferrari and beautiful woman is only a couple of months subscription away. The good times are back for milking the moron money it seems, and now you have a new way to attack all that wasted data that has never been converted from the demo accounts.
Having spoken to several participants in this industry, they stressed their key selling point for their brand is ‘there is real money in the accounts’. My goodness, how charitable of you. They then went on to explain that others just take the subscription and let the ‘trader’ inevitably blow up the glorified demo account
and go on to keep rolling them for the subscription money.
Sadly CFD brands that have a loose affiliation with prop trading brands cannot see that by taking this short term money, it really is damaging their brand which has taken years to cultivate a solid image. It will blow up similar to binary options (which strangely enough as the same players are involved) as regulators are notoriously slow to move based on previous experiences. However, once they do see the connection prepare for some huge challenges for the owners both financially and legally who are ripping off the end user.
Most of these participants believe that by selling what they believe to be a training / pdf program, they believe they have been incredibly cunning in beating the regulator. Well sadly I have bad news for you. Your industry is already on the high risk list for banking, so it is being flagged already in the various banking and payments institutions. This usually happens with regulators playing a part in giving guidance to banks on how they view it, and how it could affect their license. Passing legislation can take a huge amount of time, however elevating the risk profile and putting pressure on the payment processors and banks helps set the future risk relationship when obtaining funds from clients.
Moreover, if there is real money in the accounts and the clients are being treated fairly. Show us how and where the trades are executed, as this could be a great free marketing tip for you against your peers to show that you have aligned interests, and not just taking the subscription fee. If they are executed properly, then fair enough, you will have a longer future than most of the dross out there. However I would estimate that 98% of the total trades placed in this industry are not executed and some excuse will become de rigueur for these entities.
Prepare your Linkedin inbox to be peppered with 18,000 word spam messages and expos events to get drunk on that prop trade money...enjoy!
Q In traditionally male-dominated fields like finance, women often encounter unique obstacles. How did you navigate these challenges, and whatadvice would you give to aspiring female professionals aspiring to break barriers in the industry?
First off, I have to say that I have been quite lucky in that I have only a few times faced blatant challenges solely based on the fact that I am a woman. I have worked for incredible companies and people over the years, and they have all been quite conscious of the issues that women (particularly young women) face in male-dominated industries. That being said, I would advise the following, from my experience:
• Be confident and assertive: Confidence is key when navigating a male-dominated field. Speak up, share your ideas, and actively participate in discussions and decision-making processes.
• Emphasize your skills and achievements: Be proud of your accomplishments and don’t shy away from showcasing your abilities. Focus on your skills and the unique perspective you bring to the table.
• Build a strong foundation: Educate yourself about finance, economics, and related fields. Knowledge is power, and having a solid understanding of the industry will boost your confidence and credibility.
• Seek out mentors and allies: Connect with both male and female professionals who have experience in the industry. They can offer valuable advice, guidance, and support throughout your journey. This one is key. I still speak to some of my very first mentors after 15 years in the industry, and much of my insight and career path has been due to these key people.
• Network strategically: Attend industry events, conferences, and seminars to expand your network. Networking can open doors to opportunities and help you gain visibility within the field.
• Learn from failures and setbacks: You WILL face obstacles and setbacks along the way, but don’t let them discourage you. Use these experiences as opportunities to learn, grow, and improve.
• Encourage other women: As you succeed, encourage and mentor other women who are aspiring
to break barriers in the finance industry. By supporting each other, you can collectively drive positive change.
• Lastly, I do believe that the face of the financial services industry has changed significantly over the past 15 years. I hope that I played a part, however minor, in driving that change to pave the way for an easier experience for young women entering the industry now. If these women continue to advocate and lead by example, I hope this topic as a conversation point becomes a thing of the past.
Q Mentorship and support are crucial for professional growth. Have you had mentors or role models who played significant roles in your career? How has mentorship influenced your journey?
ABSOLUTELY yes. My mentors have been truly invaluable in this journey of mine. Oftentimes when we need guidance and advice, we are “in the weeds” so to say. We are faced with a decision or an impasse or a fork in the road that we are struggling with, and we often try to analyze this from an internal perspective, and often with blinders on and emotions high. My mentors have significantly more experience than I have, and with that experience comes a great deal of wisdom and knowledge. They have helped me to analyze situations impartially and from a different vantage point. They tend to ask me broader questions to see the larger picture, which helps lead to a more level-headed analysis and decision.
I will often bounce new ideas off of them just to gauge their perspective, as it is often different from mine. Looking up to them holds me to a higher standard. I often find myself asking “what would ‘this mentor’ say about this?” or “how would ‘this mentor’ handle that, and what would he ask me?” I have so much respect and reverence for the mentors I look up to. I hope they know how impactful their presence has been on both my life and in my career.
Q The financial services industry has seen advancements in gender diversity, but there is still work to be done. In your opinion, what can companies and organizations do to ensure greater gender equality and representation in leadership roles?
• Create mentorship and sponsorship programs that pair high-potential female employees with senior leaders who can provide guidance, support, and advocacy for their career advancement.
• Offer leadership development programs that address the unique challenges women may face in the workplace. These programs can help to equip female employees with the necessary skills, knowledge, and resources to advance in their careers.
• Encourage work-life balance. This one is a big one for me. Employers should offer flexible work arrangements and familyfriendly policies that allow employees, both men and women, to balance their personal and professional responsibilities effectively.
• Promote an inclusive workplace culture that values senior women, and actively promotes an environment where all employees, men and women, feel respected, heard, and empowered. It pains me to see any employee being disrespected, regardless of reason. It is terrible for personal and team morale, and is not at all inspirational. Negative treatment weighs more heavily on employee morale than does positive reinforcement.
Q Throughout your career, did you ever have to make tough decisions that impacted your work-life balance? How did you approach these decisions, and what lessons did you learn from them?
Yes, more than once, and with these decisions I learned that I have an absolute line in the sand with regards to my work-life balance. I am unapologetic about this line, and if I feel that a situation is crossing it, I take back control to the best of my ability. If I cannot change it in the moment, I come up with a plan in order to get everything back in line. Oftentimes when we are faced with vital decisions like this, emotions can run high. Perhaps it is the promise of a higher salary or better title tempting you. Perhaps it is something outside of your control - a change to your role which is significantly different than expected, a change in management or structure, or change in expectations from management. Each of these elicits an emotion.
The biggest lesson I have learned from situations like these is to not react in the moment. An immediate reaction is one based on emotion, before logic kicks in. Take a step back and sit on it. Think it through and talk it through, whether it be with a mentor, a spouse, a partner, or someone trusted. This is the perfect time to consult your mentors or allies. They will often ask questions and give advice from an external perspective, making you consider the situation more holistically and impartially. Weigh your pros and cons, and assign values to the various components of your life balance. This will look different for everybody, and that is ok.
When I was expecting my first daughter, I had a few people say to me (and to my manager) that they assumed I would quit after she was born to “focus on being a mom.” The same was said while I was expecting my second daughter. I have had someone tell me that they do not want to “deal with your (meaning my) children” when I was working from home-meaning they didn’t think my kids should be at home during their summer break while I was working. The thought that we as women can only choose one identity – mother or career woman – is insulting and outdated. Unfortunately that still exists. Do not let that intimidate you. We have been doing this for decades now.
Q As a trailblazer in your field, what are your long-term hopes and aspirations for the future of female leadership in the financial services industry?
That the need for a focus piece or conversations about women in the workplace becomes a thing of the past. That colleagues and others are able recognize without second thought that women who choose to have families are capable of fulfilling both roles. It needn’t be one or the other.
That people stop assuming that women in leadership positions got there just because they are “tough” or “intimidating.”
The most insulting thing that someone has ever said to me was very early on in my career, and while it was not a job in the financial services industry, it has kept me motivated for the 15+ years since. My direct boss said to me-in front of a group of my direct reports- “Go look into a mirror, and know that the reflection looking back at you is the only reason you will get anywhere in your career.” I used to be a scientist. I have had my research published. I have a degree in molecular genetics and biomedical physics. All this is to say that I was very aware that what got me to that point in my career was my intelligence, my wit, my innovative thinking and a multitude of other factors, none of them being my appearance. That was so insulting to me that from that point on, I made it my mission to ensure I was taken seriously for my content of character, and it drove me to focus on how I was perceived by my colleagues while not changing who I was personality-wise. Nobody would ever say that to a man. Ever.
Q The financial services industry is evolving rapidly with technological advancements and changing market dynamics. What advice would you give to women aiming to stay adaptable and future-proof their careers in this dynamic environment?
You must remain as dynamic as the environment. Seek knowledge and continuous growth: Stay hungry for knowledge and continuously invest in your personal and professional development. The financial landscape is ever-evolving, and your commitment to learning will keep you relevant and adaptable. Lean on the network you build and the mentors and mentees you connect with to keep you abreast of current trends and in rumblings of things to come. You always want to be at the forefront of knowing what is to come.
Q Empowering women in the financial industry often involves overcoming unconscious biases and gender stereotypes. How have you tackled these issues, and what strategies do you suggest for driving positive change in this regard?
I have been told that I come across as too assertive “for a female” in a room full of men. That men “take more kindly” to more traditionally feminine personalities. So essentially, be more docile. Speak when spoken to. Don’t have a dominant personality. While there is a fine line between assertiveness and aggressiveness that ALL must be aware of, if you are the former it shouldn’t matter whether you are assertive as a male or female. Don’t let anyone try to force you into a traditional gender expectation.
On the back of that previous point, do not let anyone tell you that your assertiveness is just you “being emotional” because you are a woman. This is also a line that has been said to me. If a man is assertive and passionate about something, he will never be called emotional. Stand your ground and make your point heard. Again, be aware of the line between assertive and aggressive. But do not let it come down to “emotion” when it is not.
Although it is unfortunate that I have had to face these examples, most of them happened nearly a decade or more ago. And although I have had to deal with these, I have an exponentially higher number of examples where male colleagues and bosses of mine jumped in and proactively took action when they witnessed anything of the sort occurring. This sort of behavior is seldom tolerated in today’s market, and companies are doing a great job with training and awareness. To see male colleagues who are many years my senior be equally or more offended than I when they witness it happening is a testament to how far we have come.
Q Lastly, what would be your message to young women aspiring to pursue careers in the financial services industry and achieve leadership positions?
• The path there will be challenging yet quite rewarding.
• Know that your potential knows no bounds, and you have the power to make a lasting impact on your own life as well as for future leaders who look up to you.
• Be resilient: You may encounter obstacles and face adversity, but remember that resilience is key to overcoming challenges. Learn from setbacks and let them strengthen your determination.
• Advocate for yourself: Don’t hesitate to advocate for your ideas, goals, and accomplishments. Make your achievements known and ensure your contributions are recognized.
• Be a role model and advocate: As you progress in your career, become a role model for other women aspiring to lead in the financial services industry. Share your experiences and offer guidance to help them thrive.
• Be collaborative and inclusive: In leadership positions, foster a collaborative and inclusive work environment. Encourage diverse perspectives, empower your team members, and promote a culture of respect and openness.
• Build a strong support network: Surround yourself with mentors, allies, and like-minded individuals. Seek guidance from those who have walked similar paths and are willing to support your growth.
• Learn to “Manage Up”: Proactively, strategically and collaboratively work with your supervisors, managers, or higher-level executives to foster a positive working dynamic that benefits both you and the organization as a whole. Understand their priorities, preferences, and communication styles to align your work and goals with theirs.
Q It’s been an age since you were last in Game Changers. What’s new with Lola?
Hello Paul, hello GC readers, Im very delighted to be back to the new edition of GC magazine. Its been good 4 years if I remember correctly since my last appearance here. Lots of news of course, recently I was at the Finance Magnates Expo in South Africa, which was a completely new region for me to attend within the Expo trips. It was a great experience for sure! Despite the long flight, totally worth it. I participated in my first podcast as well in June, now everyone can get to know Lola a bit more when it will be launched. Overall, its been quite shaky year I think everyone will agree, so I dedicated a lot of time to research about different jurisdictions where start up brokers can register their companies and get the bank accounts to be fully compliant with the recent KYC requirements to obtain trading platforms and start their business rolling.
Q Since we last spoke, any big news from Tools For Brokers?
Within the scope of my responsibilities as a Global Head of Partnership we have announced new partnership with MAP FinTech to make it easier for our clients to use regulatory reports with our bridge ecosystem, attended numerous Expos with Bangkok being the most recent one and of course getting ready now for the summer heat before the next preparations towards IFX Expo in September. TFB has also appointed new head of CY office Petros Kalaitzis and head of Asia office Han Ong this year. We have enhanced our PAMM system, Trade Processor Eco System and released the ToolBox that provides access to all our plugins via very user-friendly interface.
Q GC has a weird question for you. Whenever we see you at expo’s. How do you look so awake and we feel so tired? What expo survival tips do you have?
Haha, do I? Thank you, Paul! Well, simply put I truly enjoy Expos, I only feel tired when everything is over and you are on your way back to Cyprus if the Expo took place abroad. The only tip that comes to my mind right away is to wear comfortable shoes ☺ And I wish I could give this advice to myself 5 years ago. But indeed, during the Expo you get to reconnect with many people from the industry, spread the news, hear the news, and get inspired with the new trends and knowledge. That truly drives me so no doubt I seem very alive and energetic at the Expos
Q You are very successful at managing partners. What tips can you give others who are just starting in this industry?
Network, network and 100 times network. Be genuinely curios, interested and involved with what other companies do and provide on the market, ask questions, find ways how their services can benefit and simplify the FX life of your clients and vise-versa. It was a very natural thing for me at the first Expo in London to go around, talk to people and ask questions and I wasn’t shy to admit that I’m new in FX world with basically not a lot of knowledge of its internal mechanisms. Even I connecting with you Paul wouldn’t be possible if I didn’t come to you asking questions about the company you worked for and how does it benefit the FX world. So, my biggest tip – get closer, don’t be shy ☺
Q What makes Tools for Brokers such a great company to partner with?
Well, where do I start ☺ First of all Id point out our expertise, experience and reputation on the Market that we were building for more than a decade. Our clients range from Brokers to Prop Trading firms, Hedge Funds, Prime of Primes and Liquidity Providers, plus we are working with all markets having offices in UK, Singapore and Cyprus. We are always keen to enhance our offering with the added value from our partners, as well as our goals is to provide the end client with the one-stop solution that will untick majority of his open tasks in the most smooth and seamless way.
Q If you are looking to become a partner as a side hustle, what would you suggest people do?
I think its important to research the market for any blank spots that can be filled by your presence, set of skills or knowledge, especially if you have a big network – you are definitely winning. I work with a lot of consultants who assist brokers with setting up their trading environment and I can confidentially say that’s its definitely mutually beneficial for everyone involved in this scheme, consultants can direct you right away in a needed direction and Broker gets his needs settled asap. Of course, its important to find right companies to partner up with, because in the end of the day its your reputation as a consultant at stake. So, expanding the network and finding the reliable companies to work with would be the first and very important steps in order to have additional profit from such side jobs.
Q Anything new for T4B incoming which you want to tell us about?
We will continue updating and expanding the functionality of our flagship products, develop our partnership network, attend Expos in different countries and overall, continue to strengthen our presence as a Bridge provider on the market. We are also finalizing our offer for Prop Trading firms, which is a very popular subject on the market, so TFB will keep you posted ☺
Q What’s the best way for partners to reach you?
Anywhere they can find Lola Negmatova ☺
But of course, LinkedIn, email, Skype – let me know how we can be mutually beneficial and assist our clients in the best possible way, Im all ears!
Q Hi Andrew, it’s been a while since we last spoke. You’ve been in the industry for over a decade, how did the industry change in your view ?
Hi Paul and thanks for having me. The industry never stops to surprise us indeed.
So far in my career I’ve witnessed the transition to FX, from FX to Crypto, then NFTs and now to Prop Trading. One of the beauties of this industry is the constant change, sometimes for good, other times not so good and as industry professionals it is our job to predict and adapt to the changes imposed or suggested by regulators.
The rules of the game might change time to time but the goal remains the same. Develop and promote an amazing product that serves thousands of successful businesses and end users worldwide.
Q For the last few years you ran your own ventures and recently you joined Spotware as Head of Growth. How come?
I was honored when I received the invitation from Spotware to be honest but somewhere deep inside I knew I can provide great value to the brand and apparently so did Spotware so here we are. Let’s just say it was perfect timing and both parties won.
We have a few very interesting projects under development and we will start implementing them from September, so keep an eye on Spotware this season and don’t miss out.
Q If you were to choose being an entrepreneur or an employee what would you choose?
Haha. I tried both as you know and probably this is my strongest point. Seeing and understanding business from both sides.
They both have pros and cons I guess, but the lessons learned from both sides are priceless.
As a business owner you will understand exactly why your previous CEO was always in a mood for example,
and you will have a better view on how businesses operate behind the scenes, while as an employee you don’t necessarily have that pressure or understanding. It’s a matter of personal preference in the end. Some people are happy as employees, others dream to be CEOs one day and run their own venture and others try both or manage to combine both.
Q I know that sometimes doing business is not easy. What keeps you motivated Andrew ?
That’s a very good question. I suppose doing what you understand and what you love is one of the main catalysts that keep us going as human beings.
I am one of those people that think outside the box and after so many years of working closely with sales, marketing, operations and other departments, I can say that I have developed a very particular set of skills haha.
For example, after a long career on the sales floors I learned to appreciate every objection and every critique and use them as tools for self-improvement instead of getting upset.
Whenever I changed a job, I didn’t see it as a failure as 99% of the times I was the one that decided the change. I saw it as an opportunity to learn more and grow professionally.
For me it’s a matter of not giving up when you know what you are doing, always looking for outside the box solutions and treating every situation as a life lesson. I don’t take things for granted nor do I let “faith” take over. I am in control of my life so I just get up and make things happen. This is my motivation.
Q What does it mean to be successful in Sales, Andrew ?
In my view, being successful in sales doesn’t necessarily mean closing the highest number of deals, but how you do it and how you maintain the relationship in the after sales process.
When I was working in car sales in the UK many years ago, and also on the sales floors of FX firms, this was one of the issues. For example, many salesmen broke records selling units but after 1 week up to 40% of those deals failed as they weren’t fit for purpose or the client was pushed to act on emotions rather than logic.
Your product must be fit for purpose, the client should choose it based on need and not emotions and ultimately the after sales service weighs heavily on the product or brand you sold to the client.
If the client is happy and will gladly recommend your product to others, I call that success.
Q Tell us about Spotware Andrew. What is your mission?
Spotware is a market leader and as I like to say cTrader is “probably the best trading platform in the world” and I am honored to be part of such an amazing platform.
Part of my mission at Spotware is to eliminate the word “probably” from the sentence, help build more bridges between great companies and an amazing trading platform, and assist with marketing projects and PR. You know how much I like attending expos and creating content so you will see a lot of me at industry gatherings again.
Q With market requirements constantly changing, how is Spotware keeping up with all the changes ?
As a market leader, Spotware is always 1 step ahead of its competition and as you probably know, we just released another major update for cTrader called cTrader Invite.
This upgrade is an ultimate solution that will simultaneously empower partners and deliver long-term strategic benefits for brokers.
For example, partners will obtain a full-fledged personal page like on social media, which will elevate the partner-trader communication to a completely new level.
The key benefits of this upgrade will offer more transparency on the partner side and higher conversion on the brokers side due to the embedded promotional mechanisms and personalized attribution. Last but not least, the user interface of cTrader Invite prompts that invited traders can convert into partners themselves, thus generating even higher traffic for brokers.
Therefore, to be ahead of the times, you don’t have to follow trends, you need to create them.
For a full list of the latest updates readers can check cTrader.com and even chat live with the Development Team on the Forum.
Q What are the main advantages of cTrader versus its competitors Andrew?
Well first of all we are still on the Apple Store and of course all the other online stores.
The advantages of cTrader versus its competitors are huge, transparent and if I were to name a few, I would say state of the art charting, great customizable tools and indicators and infinite customizable widgets.
One of my personal favorites is Copy trading. This is an amazing function that could save traders time & money if done properly.
Risk management tools are way more transparent on cTrader than most of its competitors, price alerts even on mobile apps and one of the top features is the cTrader ID which allows you to login into multiple broker accounts using the same platform and credentials.
While other reputable trading platforms update very rarely or never, cTrader keeps improving its functionalities almost every quarter, keeping up with the changes in the industry and with requests from end users.
Q What should we expect from Spotware from the marketing perspective now that you joined the company ?
A lot of noise haha. Part of our growth plan is to expand our media reach and global footprint so I will attend a lot of industry events and create some unique video content for the brand along with our marketing and sales team. Also we want to get closer to our trading community as the end users ultimately dictate the changes and we can’t thank them enough for helping us become industry leaders in the past few years.
At Spotware we value long term partnerships and as stated on our website “We help brokers grow” so a lot of focus will be on improving the relationship with existing and new partners but this is all I can disclose at this stage regarding our marketing strategy.
Thank you Andrew. I’m looking forward to seeing your progress with Spotware and I’ll keep a close eye on the new developments.
Thank you Paul. It’s been a pleasure as always.
Welcome to another interview with Dora Christofi, Head of Marketing at Orbex, about Digital Marketing Insights. In today’s world, it’s important to stay ahead of the curve. Dora will talk about some trends and strategies that are shaping digital marketing in the Financial Industry. Whether you’re a seasoned marketer or new to digital marketing, join her as she uncovers the keys to success.
Q Influencer marketing has gained immense popularity in the Financial Industry. What factors should brands consider when collaborating with influencers to ensure authenticity and alignment?
When it comes to promoting financial products, influencers who are experts in the finance field are a perfect fit. Teaming up with an influencer, whose followers are interested in trading and have similar interests to the people or target audience the brand wants to reach, simply makes sense. Brands should carefully select influencers who are knowledgeable, transparent, and share the same values.
This will allow brands to build strong relationships, enabling them to connect with their audience, build trust, and spark real interest.
The most effective way to show off your brand is through influencers that educate their followers on investing and will endorse your brand and services. The content they prepare should align with what the brand believes in and what their followers enjoy, so that it comes across as authentic and real. Brands should also ensure that the content their influencers create remains compliant and does not guarantee or promise profits to the user.
Q The mobile-first approach is crucial. How can businesses optimize their websites and campaigns for mobile users to enhance user experience?
Emphasizing responsive design is essential. This involves integrating responsive web interfaces to ensure that both layout and content adjust seamlessly to the user’s device, delivering a cohesive experience across various screen sizes. Moreover, enhancing usability involves placing interactive elements like call-to-actions (CTAs) buttons within easy thumb reach, guiding the user to perform actions easily.
Loading speed is another important factor that can significantly affect user experience as well as how high a website ranks in search engine results. Nowadays, users expect fast loading and to achieve this, we need to follow a number of best practices including image compression, streamlined code, and browser caching. These efforts not only accelerate website loading, but also minimize bounce rate and increase user engagement and satisfaction. Simplicity in navigation is also critical. Streamlining navigation menus and buttons for touch interaction significantly improves the user experience. This also entails using clear labels, intuitive icons, and well-organized menus that simplify user journeys and help users find what they are looking for.
Having a mobile app specifically for account management, a dds an extra layer of convenience for the user. With such an app, users can easily access and control their accounts directly from their mobile devices. They can check balances, review transaction history, make payments, and perform various account-related tasks on the go, enriching th e user’s experience.
Creating content customized for mobile devices is another fundamental aspect of ensuring a streamlined user experience. Content should also be easily scannable and readable on small screens. This can be achieved by structuring the content using headings, bullet points, and visuals - all of which will contribute to sustaining the user’s attention and interest.
Q The importance of SEO in digital marketing is well known. How can businesses keep up with search engine algorithm changes and maintain strong organic visibility?
SEO is widely recognized for playing a pivotal role in improving online visibility, driving organic traffic, and increasing user engagement. To navigate the ever-changing landscape of search engine algorithms and uphold robust organic visibility, brands need to adopt a strategic SEO approach. To do this, staying current with the latest SEO trends is paramount. Marketeers should regularly monitor reputable SEO resources, forums, and industry updates, which will in turn enable them to anticipate algorithm shifts and adapt their strategies proactively.
Eleftherias 55, Limassol 3042 25 212100
I first found Bistrot 55 by their amazing pictures on instagram a while back. With a hectic summer schedule, I didn’t think we would get time to review until next year, however fortune favoured us and we took a table.
After a bit of trouble finding the venue, behind Park Hotel / Pizza Hut in Dasoudi Beach, you walk through what can be best described as a visually pretty entrance. with an incredibly pretty minimalist and well lit garden where you are not being cat fished like many instagram eateries.I think the best description is an enchanted forest, with its delicate fairy lights and not packed with too many tables.
For once I was early to meet my dining companion, so I took my seat and looked out towards the sea and felt generally relaxed as it is one of the few green spaces that central Limassol has in the barren summer months.
Here is one problem with Bistrot 55, and maybe it is a personal thing which is finding it. (Sorry to repeat myself) With the second part of the dining duo kind of lost and me being early. It appeared that the incredibly kind and attentive waiting staff took pity on me, and were asking if I would like to order thinking that my companion had stood me up. They sympathetically told me that I can order and your companion can order (if) when they arrive.
Fighting back my ego to inform them that I haven’t been stood up, and I am an incredibly popular person in many parts of the Limassol district. In fact many people would enjoy my company to dine with them...Don’t you know who I am !!!!
As the voice in my head relaxed, I told them they were about to arrive and I refilled my glass of water embracing the feel of peak summer humidity crawling across my skin.
To save you a lot of time, and for me to endlessly stress the point. If you are meeting someone here, just tell them to park and look for the partially lit arched entrance as it can be hard to see it. (that’s the last time I promise).
The menu has a wide enough choice not to be restricted, and also not too big where you are overwhelmed. The choices are very nice including meat and fish, with a nice selection of salad and starters. Everything is fresh and locally sourced with a fantastic presentation rivalling any of its high end local competitors.
We took the chicken and Sea Bream (separately) with the quality being incredibly high. The chicken was very tender resting on a bed of potato puree with bok choy that was incredibly succulent and maintained a wonderful deep green colour to match its surroundings.
We paired the food with a couple of cocktails which were very well prepared and incredibly refreshing. In some places they see the strength of the drink over the quality. So it was nice to take a high quality cocktail without the fear of me losing sight in one eye.
Overall I really enjoyed the meal with the quality and construction of both dishes being incredibly high.
So far so very good, with the age old winning combination of great food, drinks and great company. However, the first kind of downer of the night. As with any hot night you are consuming a lot of fluid and you will naturally need the bathroom. This was the oddest thing in that it didn’t have one, and you had to go into the hotel.
Now this may sound like a first world problem, however you had to walk to the hotel which was through a large garden on the outside of the hotel. Now it’s fair to say, and this is not a reflection on Bistrot 55 as I gather they are independent of the hotel, so it is unfair to critique them for this. However, having to explain to diners that you have to take a left, then a right, the walk past this place then that, go down the stairs and you reach Valhalla just to take a pee!
When I was younger I was (un)fortunate enough to visit many lower league football stadiums around England. Now I would stress that these are not plush places, with a predominantly male drunk British clientele visiting them....I think you get the idea what I am talking about here. However, they made those toilets look like Harrods compared to what I encountered. Now I didn’t quite walk out with PTSD, however it’s not something you would expect from somewhere where the food, service and general ambience was so good. And I stress this is part of the hotel and not Bistrot 55.
Moreover, sadly on my return from visiting the toilets of world war one, they had stopped serving cocktails which seemed to be a little early. I think it was around 10.30 PM. We were looking to talk some more, and i didnt want to go anywhere else as the atmosphere there is incredibly sedate and relaxing. In this country nothing really starts until 10 PM so it was kind of weird.
Based on the food and how it looks I would definitely go again and also try the winter version of their restaurant as it was only the toilets which it dropped points on. If I had the bladder of Zeus it would be one of my favorite places in Limassol.
After several years of hearing about the positive merits of floatation tanks often discussed on the Joe Rogan podcast. I was always intrigued about whether they are any good or just hype created by the biggest podcast in the world.
Living on a small island really is a weird thing, as distances that you would perhaps normally travel in your home country without a second thought, you would never dream of doing in this country without packing blankets, sandwiches and bottles of water in case disaster strikes on the incredibly gruelling 100KM journey.
It’s a really weird frame of mind as I check everything on the car including oil and in some particular extreme cases, even the amount of fluid in the windscreen wiper bit.It’s almost like I want to be prepared for the end of times, when all I am doing is driving to Larnaca airport.
Maybe this outlines more about myself than others, however I would just appreciate it if I give people a ride over 10 KM that I have been up all night giving the car a full service.
Having carried out several in depth searches online, I found a floatation tank on the other side of the country (Pafos), and based upon this data I was more likely to travel in time than journey to the far off kingdom of Paphos..With that in mind I still hadn’t been able to see if Rogans advice would revolutionize my mind.
After a morning of not much going on, I decided to do a random google search and found that Limassol now housed a floatation tank only a couple of minutes from my apartment. Were my eyes deceiving me, would I not have to pack a week’s amount of rations to make a trip to get there?
If you haven’t driven through the gilded gates of the Onewell spa, it is best to describe it as a luxury high end spa. However, don’t let that put you off with insane prices. It seems quite reasonable for a one hour floatation experience (75 EUR) which also allows you to use the sauna and the pool. I found it a very welcom-
ing environment, with the assistants giving you an outline of all the procedures.
With the money paid, I got changed into our incredibly soft bathrobe and was guided to the private room that holds what is best described as a very large futuristic pod which you encapsulate yourself in..
If you choose to do this (and I would say try it) a strange thing happens when you tell others. They seem to have a knee jerk reaction of telling you about their fear of enclosed dark spaces. It’s a similar thing to when I gave up eating meat for a year, in that all of a sudden people were incredibly worried about my protein intake. they would then give me an index on what protein supplements are best. However, I digress.
So to get the respondents reaction to their psychological issues of not liking enclosed dark spaces. (They have never lived in some Limassol real estate). When you climb into the chamber you are not getting into a wet tomb. It is the width and depth of a jacuzzi, with the water being about 30 cm deep at most..
It has so much salt that it is impossible to sink, and if you wish to sit up you can easily do this without feeling enclosed. Moreover you can choose to have the lights on or choose darkness which your eyes become accustomed to,
I choose to have the sounds of the jungle which slowly tapers off after about 15 minutes. I was told that this is the best way as it helps you focus your mind and make you comfortable for I guess about 15 minutes then it slowly gets quieter.
Laying there in perfect stillness I did feel like I had been charged 75 EUR for a very pleasant salty bath,and perhaps this iron law of Roganism was not the path to take to enlightenment. Then all of a sudden my brain just seemed to switch over to a different type of state.
Now this is quite complex to explain in words, it was like an incredible sense of peace, relaxation and calm
seemed to be massaged into my mind by imaginary cosmic fingers. (yeah it was weird, but cool at the same time)
To explain in words the thoughts and mechanics of what was going through my mind, the previous few days I had been trying to arrange a technology infrastructure and banking routes for a client who was opening a new bank.
Sometimes with this it can get quite complex with what the client wants and what they can receive, and how to integrate what they need technology wise into what they have and want can be quite mentally challenging.
Having thought I had parked the idea when I left the office on Friday, my brain had other ideas putting it front and centre of my floatation voyage, in what can best be described as a mental schematic drawn out in front of me with the answer to my questions.
Moreover, it is not like some dreamlike quicksilver where you have to jump out and write it down. It seemed to be safely embedded in my mind, and was remembered for Monday morning when we were due to talk again.
With the jungle noises slowly returning bringing me back to this realm, I lifted the lid on the pod and felt incredibly relaxed with each muscle feeling like a full body massage had taken place.I stepped into the cold shower to wash off the salt and start the mental unpacking of what had just happened.
Floating through the spa feeling both zen-like and elegant in the high end bathrobe, I declined the offer of sitting by the pool to relax further and driving home. For any of you who have not been lucky enough to drive in peak saturday afternoon traffic I felt incredibly relaxed which is weird, as you are sometimes looking for cars to come from above. One way that could describe the sometimes beautiful madness of hellenic driving is that it is a great way to learn how people say f*ck you in many wonderful languages.
It was a kind of weird sensation and, as I kind of felt like I was on the outside of life looking in, almost like watching a documentary about savage humans driving their 4 wheeled machines and carrying out elaborate hand gestures to their fellow road users..(I know it sounds weird, but it was a profound experience).
Sitting at home and thinking further over the other thoughts that had entered my mind, I felt incredibly relaxed and researched how to improve the experience. I was going to repeat it again the following week. This time I was determined to go deeper, by watching advice from advanced floaters (not that type) on how to improve the experience
In the second journey (it’s how us experienced zen cerebral travellers like to address it) you will be pleased to know that this was not a work related journey, this one was a far different experience.
Having spent the week listening to podcasts on how to quiet your mind, which is quite an experience for
someone who appears to be getting tinnitus, this one would involve entering the experience without fear or trepidation.
Going through the ritual of the cold shower in the pod room, sliding into the neon lit water and pulling the lid down. I embraced the comforting sound of the jungle picking out the sound of the birds to focus my mind on.
Using the lessons from the float gurus, I relaxed all my muscles and trusted the salt to maintain my balance. Perhaps the most mentally complex part at this stage is to relax your core muscles which speeds up your relaxed state of mind.
Now this was a different journey, so bear with me on this description. The best word to use for this would be psychedelic, not in the sense of a full LSD trip, but certainly hallucinatory.
It seemed like I floated away from the music rather than the volume going down, and I had the strangest sensation of viewing myself from the side and saw myself as like some kind of Damien Hirst artwork, but without being cut in half.
The image if you could call it that was just looking at myself in total darkness laying down. Then we went to another level and I was looking down on myself from what seemed to be starting at a meter then going higher, watching myself gently spin around in the void
of what seemed like space.This may seem scary, however you felt totally in control of the whole experience and it was actually very good fun to go on the ride.
I told you it was different to assessing correct banking routes and technology. Also this was nothing to fear, it was very calming and enjoyable along with knowing i was in a safe environment. Moreover, if you are a person who has creative thoughts, I would highly recommend giving it a shot in the chamber.
This time I adhered to the advice of the health spa assistant who said take time to sit by the inside pool, have a flavoured tea and unpack what had just gone on. This was an essential part adding to the experience, as you do have a lot going on mentally when you step out.
Taking this time it adds a huge amount to the experience, as there is nobody there,. just you, the sound of a waterfall and you can watch the bubbles float across the surface as you replay the thoughts that have just wandered through your brain.
Taking a swim in the cool water is an odd sensation, as it is lit by what seems like a sci fi film set which, i guess I wouldn’t be the first person to think: am I still in the tank thinking this, experiencing some kind of solipsism, or am I in the pool?
Perhaps to go even more existential, is there a pool and do we exist at all? (sorry couldn’t help myself)
From reading this you can see I have become an advocate, and you do feel more calmer during the week with improved sleep. I would suggest going for a minimum of one hour and going a minimum of three times to get the full effect. I think the first time you are unpacking mental junk on your mind, and the second third and more times you are just embracing the experience.
Have I become a float bore, definitely. However, it has added a lot to dealing with what seems to be a life that is going faster and faster, where we all need to step off the train for a little while.
Well worth a visit, but don’t book on saturday afternoons as that is when I like to go.
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STACY THOMSON - REDDI APP
Q Can you tell us about yourself, before you made REDDI?
Prior to REDDI, I have spent the last 20 years working in mental health and have had my own performance consultancy for around 7, working with law firms, formula one teams, as well as high level executives, and public figures. This experience has undoubtedly been fundamental when designing REDDI - incorporating very much what I have learnt about human behaviour, relationships, and love.
As a mental health practitioner, I have not only met hundreds of people, but also been extremely privileged to have been told the deepest, darkest secrets of many. I’ve also learnt a lot about myself, which I feel has been a great foundation when it comes to building the app. As both a dating app founder and mental health practitioner, I feel a huge responsibility to do the right thing by others. The innate sense of a duty of care runs deep within my veins, as does my desire to create the kind of social impact that leads to positive mental health outcomes – not just for current generations, but the many more to come.
Q What made you get out of bed one day and decide to make a dating app?
In many ways, I feel I manifested REDDI. In 2019, I wrote an article on ‘the trouble with dating.’ I was burnt out, after spending most of my adult life as a single woman on and off dating apps. I was someone who absolutely believed in the concept of love - I still do, but somehow, I hadn’t managed to find it for myself. This wasn’t an issue for me, until it obviously became an issue. At 41, I found out that my egg reserve was low, so I took the decision to have solo IVF, which resulted in my son, who is now 2 years old.
Whilst going through my IVF journey, I realised there were thousands of women out there also choosing the same journey - not just those of a similar age to me, but much younger women who were also fatigued by dating and had decided to take matters into their own hands – this is despite 95% of women preferring partners, and the rise in single, depressed, and lonely men.
The stats are awful once you go looking. For example, our younger generations are having less sex than any other generation that has come before them - a pattern that is mirrored across all ages. All the research tells us that we are disconnecting, loneliness is on the rise, and populations are in decline – and as an observer of human behaviour this does not surprise me.
Sadly, consumerism, an intolerance of any emotion we don’t like and a society which rewards success and achievement means that our brain chemistry has changed substantially. We’re now all mostly addicted to dopamine (a chemical produced in the nucleus accumbens, the brains pleasure receptor which has no inhibitor) and we are now at that stage whereby we are flooding ourselves daily with so much dopamine, we never feel we have enough which will only lead to chronic dissatisfaction and more depression.
I believe however, that we are at a crossroads, and I
want REDDI to lead the way in changing how people date and find love.
As an industry, I believe we can all play an important role in improving these disastrous outcomes. It is exciting, and thrilling and I can’t think of any greater privilege.
Q Was this self-funded or did you have to sell the idea to get financial backing?
REDDI has been completely self-funded, and I have gone back and forth with the concept of raising investment. Given the fact that only 1-2% of females get funding, it is no secret that being a female founder is a tough gig.
But over recent months I decided to postpose my raise for a few reasons. The first being, that I began to notice that people wear their ‘raise’ amount like it’s a badge of honour.
We look at those businesses with awe - believing they are ‘successful’ and doing well. Like their business is somehow more valuable than maybe those who haven’t raised or have raised lower amounts. Again, this is a false narrative, and only leads (in my humble opinion) to those who haven’t raised feeling slightly like they are failing in some way - when maybe it is them that are the winners.
This got me thinking about whether I was raising simply because ‘externally’ it would look good when it came to building the REDDI brand profile.
Secondly, I also think this way of thinking also makes people seek bigger checks than they need - I heard someone say recently “only raise what you absolutely need” and it resonated so deeply with me. Yet, I think with investment you are making a lot of assumptions (sometimes it is hard to know what you may need), at a time when you need to remain agile and open to change - especially early in the journey.
Most people will wrap investment up in the narrative that it helps businesses ‘grow’ more rapidly. That you NEED it to grow. And I think, there is some truth to this, but I also feel that it makes businesses seek investment way too early - giving away more than you need to, causing undue stress in the process. You also by default immediately enter a ‘runway’ situation (granted some founders like this, they want to go BIG or go home - I’m not one of them), whereby if you don’t achieve what you set out to, once the term ends, if you have ‘run out of money’ your business is simply blown up in a puff of smoke, unless of course you can spend 24/7 once again convincing investors to invest.
That’s your brand, hard work, everything GONE. When you are building a quality brand, it takes time and consideration - rushing will only lead to a reduction in our ability to provide the luxury service we are aiming for.
I’ve also started having more aligned conversations –as a dating app built to create long-term social impact, networking with investors who understand what we are doing (social sustainability), and the reasons why is now a key part of my investment strategy.
Q What lessons have you learnt building your business that you wish you knew at the start of the REDDI journey?
I think the hardest thing is both being a non-tech and solo founder, as these are often the areas which I find the most challenging. Trusting external teams, as well as trusting yourself to make good/the right decisions is an ongoing journey.
I also think that you should only really go into the
dating industry if you are passionate about what you are doing. I say this, because dating apps are particularly difficult to get off the ground - the market is saturated with most users using only a select number of dating apps which are predominately owned by a small handful of industry giants.
However, positively there is a rise in niche dating apps like REDDI which are providing an alternative for the many users out there who are struggling with current offerings and want something more meaningful.
I also think that if you are running or starting a business in 2023, you must recognise that it’s not the actual product that will make your business a success, but rather how you market, grow, and brand that product. You’re marketers mostly. I think many founders overly focus on perfecting the product –when your product absolutely doesn’t need to be perfect to be a success.
Furthermore, the recognition and the understanding that what you think your product is/or will be might not be what it ends up being – staying agile and open to change is key.
Q The feedback I get from people on other apps is that it is a nightmare out there? Why is REDDI different from other dating apps?
Well firstly, we are the first and only app in the world to match users based on compatible attachment styles. This is ground-breaking in the dating industry given the fact that ‘attachment compatibility’ is the single largest predictor of relationships success. Our app makes it easier to find those single ‘secure’ types (which all styles should be dating if possible) who are not often in the dating pool – in fact, if you are wondering where they are – I’m pleased to say that REDDI is full of them!
We’re also making matchmaking more accessible for those who want a more personalised service, but do not wish to join an offline agency.
But REDDI is different in many ways – we are an exclusive, global private community so users in the first instance must complete a brief application. Not everyone gets in, and we have a waitlist. We also do not offer a ‘freemium’ service – REDDI is a payment subscription service which enables us to curate and grow our high-level community.
We’re also built to not just help you find a great relationship, but also keep one. We do this by not just helping people to connect, but also through selfawareness and education. As an app we aim to support behavioural change when it comes to dating, as well as help our members to make more conscious and
mindful decisions. We know that if we help people to build strong, compatible psychological partnerships (using lots of science), we can not only improve mental health outcomes, but change the lives of not only the current generations, but also many more generations to come.
As an industry, I feel that the time to be socially responsible is now and I want REDDI to lead the way. Up until this point, dating apps have had very little ethical guidelines to speak of. Safety guidelines, yes - but when it comes to a duty of care and acting in a manner which aims to do no harm - contributing positively to society - this is an area I feel we fall short.
Q Other dating apps seem to be a mass market approach based on having millions of members. Is it best to describe REDDI as bespoke aimed at a certain client base?
Yes, REDDI highly values intelligent, impressive, kind, and influential individuals. These are all characteristics that our membership committee looks for when accepting applications.
As mentioned, REDDI is a private network and it is full of the most wonderful individuals – so again, not your typical dating app. Our members are mostly lawyers, consultants, financiers, creatives, and entrepreneurs.
Obviously, the mass market approach has a place, but such dating giants are now seeing a decline in user engagement. What we are now seeing is a greater demand for more bespoke and curated experiences – most people simply don’t have the time to waste swiping hundreds of people so REDDI is the perfect app for them.
Q Are you working on the pretext of less is more?
Absolutely, but that also takes a mindset shift/ behavioural change from the user. For example, our vision is to make matchmaking more accessible – however, if you were to join a matchmaking agency the costs would be considerably higher, and you would only potentially have 1 match/date per month.
Dating app users are used to having an abundance of options, but the paradox of choice isn’t always a benefit, so by joining a platform like REDDI, you need to be willing to try something different, and be okay with the fact that we are simply not designed to be a validation tool – we are designed to help you find and keep love.
We also aim to service the more esteemed user – therefore we are building a community which isn’t all about numbers, but rather high-quality matches.
Q Is there an etiquette you would suggest when you make first contact prior to meeting in person?
Well, from my own personal perspective, I feel that overall people can overthink the first interaction.
For me, keeping it simple is key, and getting ‘personal’ too quickly is a big no no when it comes to getting to know someone online. I think people can ‘lower the tone’ of the conversation very quickly on dating apps – this is a way of testing and assessing how much they can get away with without actually meeting the person - 9 times out of 10 this conversation is sexual. So, if you are doing this, your highly unlikely to get further than a few sentences.
I think most people appreciate when looking for something longer-term, a little bit of old-fashioned charm and humour. Moving too fast, especially before meeting someone simply demonstrates a lack of intelligence, and our members a demanding much smarter and emotionally intelligent conversations.
Q As a culture, do you think western society will more likely meet their life partner (or one of them) using an app in the future?
According to the research, in the future meeting online will become even more common, with projections pinpointing 2035 as the year when more couples are more likely to meet online than in real life. Further-
more, if we are using projections from current ONS birth rates and research data, researchers pinpoint 2037 as the year when more than half of babies born will be born to online couples. They estimate that by 2030, four in 10 babies born will be e-babies.
Given all the above, you can see how online dating is here to stay.
I also find it really crazy that as a society we tend not to invest much of our time into finding the right person – despite it being the single most important decision we will ever make. Instead, we tend to fall into relationships giving very little thought into long-term psychological compatibility. For example, we spend a considerable amount of time and money building our skills and knowledge to get the career we want, yet we do not invest the same when it comes to our personal relationships
Positively, we are seeing more and more people begin to invest in self-discovery and awareness – a key factor when it comes to relationships, and in turn some niche dating apps are responding to support this.
Readers can find us on the Apple App Store, or by heading over to the website at www.iamreddi.com. Readers can access a free trial by using code RED21M.
