Plugit Operations Manager Talks about the Vital Role of Plug-ins in Risk Control and Data Security

Plugit is a prime financial software provider with international presence, a proven track record of excellence and 10+ years of experience in the FX industry.

Technology plays a vital role in forex trading, and today we have invited Yulia Tereshchenko, the operating manager of Plugit, to join us at Fazzaco where she will talk about how their plug-ins manage risks and protect data.

---

Fazzaco: Thank you for joining Fazzaco today, Yulia. Firstly, please give us a short history of Plugit?

Yulia: Thank you for having us. Plugit was founded in 2012 as a small technology firm and has since grown to become a leading fintech provider specialized in trading support solutions for brokers worldwide. We offer a variety of services including custom development, integration services, hosting, and support. Our core competency is the development of world-class interactive trading system tools and solutions, seamlessly integrated into popular trading platforms, like MT4 and MT5. Our latest development and a current flagship product is YOONIT - a modular trading support system developed to help brokerages of all sizes to improve their operational efficiency, centralize operations, advance their offerings and increase profitability, among other benefits.

We are continuously refining and upgrading YOONIT with new solutions and features, ensuring that our clients always have access to the latest technological developments. The current version of YOONIT offers five of the most demanded modules, including MAM/PAMM with Trade Copy functionality, Dynamic tiered Margin for risk management, IB/Affiliate for partnership management, Bonus Automation for bonus and promotion management, and a CRM.

Our client base is global and is expanding every year, which is why we currently have three offices worldwide to cover different market segments, including Asia and Middle East, with the main office located in Cyprus.

Fazzaco: Is there any story behind your company name "Plugit" with "plugin"?

Yulia: It is all history now, but naturally we wanted to be associated with what we were doing at that point in time, which was developing customized plugins for brokers, so the name seemed very logical and somewhat smart. The full name, which is also our current website domain, is Plugit Apps.

Fazzaco: Before we get into today's main topic, let's talk about the business impact of COVID-19. Please tell us a little bit about the developments and challenges your company has faced amid the pandemic?

Yulia: 2020 was an unusual year for everyone, with the pandemic taking most of us by surprise, and forcing us to change the way we live and work almost overnight. But being a technology company that strives to always be a step ahead of the competition, we are used to the fast-paced and competitive environment of the Forex industry. Therefore, sudden changes like this were just a matter of adaptation. 

Having three offices in different countries and clients worldwide means that our company knows how to harness the power of technology and use it to our advantage, to optimize the internal business processes and offer better customer support to our clients. In fact, by switching to remote working, our team members became more efficient, and the results are showing. We've been working hard all year to have launched a new and improved version of YOONIT - V2, while also achieving over 150% client growth compared to the previous years. 

Fazzaco: Does Plugit offer risk management solutions for brokers to handle extreme market conditions?

Yulia: One of our most in-demand products is the flagship Dynamic Margin module, specially developed for that exact reason. Notably, due to the pandemic-driven events of the 2020, the forex market has experienced increased trading volumes, and with it came amplified volatility. These events have demonstrated how critical it is for a broker to have modern risk management mechanisms in place and have highlighted the importance of building automation into your risk management strategy. 

With the Dynamic Margin solution brokers can take both manual and automated measures of protection, which is of significant value to any dealing desk. Dynamic Margin monitors and adjusts leverage automatically based on pre-defined margin tiers, down to per symbol (exposure) or account (NOP) level. Implementing an automated solution such as Dynamic Margin can protect a brokerage from surges in exposure and reduce risk level while still being able to offer attractive trading conditions to their clients.  

Fazzaco: How can brokers benefit from a centralized system such as YOONIT?

Yulia: YOONIT's centralized nature offers multiple benefits to brokers as opposed to using tools from different providers. Each of its modules is designed to work independently on its own or in a combination with others. Brokers can choose one or more modules, as well as add modules at any given time at a later stage, depending on their needs and size of a brokerage, while getting the full benefits of the whole system.

Having all the necessary tools within the same system will eliminate compatibility issues, poor coordination between departments and enable brokers to operate much faster in time critical situations. 

Brokers can also connect and operate within multiple MT4/MT5 servers and WLs under one dashboard.

The system offers multi-level user access, multilingual dashboard, secure infrastructure, access to a range of popular PSPs, in-depth reporting capabilities, notification center, is fully customizable and is intuitive by design.

Ultimately YOONIT helps brokers achieve higher operational efficiency, cost reduction, process optimization and profitability.

Fazzaco: As a pure technology provider, how does Plugit protect the trading and clients' data? And how to achieve brokers' trust?

Yulia: Data protection is something we take very seriously at Plugit and take extra precautionary measures to safeguard our clients' data and trading activity. 

Being a Gold Microsoft partner ourselves, we ensure that our YOONIT system provides end-to-end security and built-in privacy features. We monitor ongoing security, performance, and availability 24/7, to ensure a secure infrastructure environment. Our encryption protocols are constantly updated to safeguard our clients' core interests and their trading communities.

In addition, we have measures in place to prevent unauthorized access to certain parts of the system. Depending on the roles and permissions, each user gets their dedicated portal allowing them to access only the data they are assigned to. YOONIT also enables brokers to change permissions and restrictions for any user.

This way, we can ensure that our clients get the highest level of security, redundancy, and ultimate uptime. That combined with an ongoing dialog with our clients ensures their trust in our products and us as their preferred technology partner.

Fazzaco: You had a successful 2020 despite the challenges, can we expect more partnerships or product launches from Plugit this year?

Yulia: It's true, we gained momentum in 2020 in terms of growing our client base, entering new partnerships, and releasing YOONIT V2, which presented a major update of the previous version. We stepped into 2021 along the trajectory by entering new fruitful partnerships and launching a revamped website that is both informative and intuitive, fully representing our brand identity.

Moreover, we will continue to improve YOONIT and release new modules and features that will further optimize our clients' business operations. Brokers can also expect a release of our YOONIT mobile app later in the year, which will present even greater flexibility to our clients, by having access to the system straight from their phones and being able to make changes on the go. 

We are also looking for new talents to join our international team and contribute to our company’s growth and long-term goal to becoming the leading fintech provider for brokers worldwide.

At Plugit, we are continuously challenging ourselves to improve our product's user experience, security, as well as our company's customer service. That, combined with advanced technological solutions as well as having a close and continuous dialogue with our clients, helps us grow into a more reliable partner.