An Exclusive Interview with Paul Hayes, Founder of ClickAlgo

ClickAlgo is a UK-based financial technology company offering trading solutions and education for day traders using the cTrader trading platform.

Fazzaco recently got the chance to interview ClickAlgo’s founder Paul Hayes, who has discussed trends of cTrader plugins in Fazzaco's prior interview in May​. Paul has a solid understanding of the financial markets and over 15 years of experience in the software industry. See the Fazzaco interview below:

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Fazzaco: ​cTrader is more advanced than MT4/5, but it is still difficult to change users' habit. How can your plugins/products help?

Paul: Offering quality products together with educational material helps customers make the switch from MT4 to cTrader, but the platform sells itself, Spotware is publishing regular updates for cTrader desktop and mobile and is in direct contact with their customers via a Telegram community group to provide much needed features. We also work closely with Spotware and our customers to fill in the gaps for trading tools that are much-needed now.

Our game plan at ClickAlgo is to plant seeds to capture a bigger market share for the cTrader trading platform in the years to come, we are currently noticing a shift in traders migrating to cTrader.

Fazzaco: What plans do ClickAlgo have for 2021/2022

Paul: Over the next 12 months we plan to launch a new algorithmic coding school using the cTrader automate platform, this will involve classroom style courses learning how to design, code and test trading strategies.

Fazzaco: Introduce how your broker coding service works.

Paul: If a broker signs up for our broker coding service with clickalgo.com then they can offer their customers special rates for using our developers to build their automated trading systems or custom indicators. This carrot on a stick should offer an incentive for customers to use the broker and if you are a broker and you are interested in this service, please check “cTrader Broker Coding Service” at ClickAlgo’s homepage for more information.

Fazzaco: Introduce your vendor product sales model.

Paul: Our vendor service helps talented programmers who create quality trading tools to reach a wider audience to sell them, the ClickAlgo marketplace is not already well known by cTrader customers but takes advantage of our existing 8000+ customer base as well as target marketing on search engines and social media channels for maximum exposure.

Fazzaco: Different people/companies can take advantage of your marketplace. They can present and sell their own products/proprietary products via your platform. In a sense, your marketplace can be deemed as an aggregator of all cTrader plugins.

Paul: This is our plan to capture all existing cTrader vendors to sell their products through the ClickAlgo marketplace, we do all the marketing, selling and 1st line support leaving the vendors to continue to create more great products to sell.

Fazzaco: How did this idea come up in your mind?

Paul: This is a standard business model to create a marketplace and work with our competitors rather than against them, by providing the perfect platform for vendors to sell their products we gain the largest market share of visitors.

Fazzaco: How is it now?

Paul: We only work with vendors who provide quality trading tools and are easy to work with, as cTrader becomes more popular we will head hunt vendor products we feel would sell on our marketplace.

Fazzaco: How will this benefit other fintech/plugin companies?

Paul: This provides the other vendor companies or individuals with another channel to sell their products, they may already advertise their products online via a website, social media channel or blog but using our marketplace at the same time will maximise the products exposure and should sell more copies.

Fazzaco: What's your edge over other competitors?

Paul: We have the biggest market share of registered customers, the largest exposure and presence on the internet via search engines and social media sites including a popular YouTube channel and the highest number of quality trading tools and cTrader education. To maintain this edge we need to constantly offer high quality trading tools and well presented educational tutorials.

Fazzaco: How can you keep pace with cTrader?

Paul: We work closely with Spotware and when new features are added we use these features to provide new trading tools, when they update the API that allows interacting with the core features, we also identify how this can be used for cutting-edge tools.

In order for us to become a major contributor for the cTrader platform we will need to offer the right knowledge to all customers so that they can get started using the trading platform from day one and any question they may need will be at hand via various channels.

At ClickAlgo we also try and publish video tutorials of all the new features that the trading platform release.

Fazzaco: Crypto mania, the market has witnessed crypto mania among investors? Does this have any influence on your business?

Paul: This may have attracted more investors to use our products, services and knowledge channels, but we do not offer any specify crypto trading tools as yet.

Fazzaco: Do you plan to develop any crypto-specific plugins?

Paul: Currently no, but when the mania settles down a bit, we plan to review.

Fazzaco: Is there any difference between crypto and forex plugins?

Paul: Most trading tools can be used with both Forex and Crypto.