FNG Exclusive Interview… The past year was not an easy one to change jobs, especially in the ultra fast paced world of Retail FX. But that is exactly what Tickmill CMO Nicholas Baumer did, joining the fast-growing Tickmill at the end of last year.
Now that Nicholas has had the better part of half a year under his belt at Tickmill, we thought that it would be a good time to catch up with him and get his views on the FX sector, and of course what is going on at Tickmill.
FNG: Hi Nicholas, and thanks for joining us today. It has been the better part of six months since you joined Tickmill as CMO. How have the first few months gone, and what have you learned and observed during your time there so far?
Nicholas: Thanks for having me, Gerald. The first months have been great. The Tickmill family has been very welcoming so I was able to settle in quickly. Illimar and I spoke extensively at the beginning about strategy and goals so I had a good feel for what needed to be done.
It’s always very interesting to join a new company and see how things are done differently from previous experiences. Many things have stood out, but the main points that really caught my attention were the local country presence and the work done by our brokerage department to deliver the excellent trading conditions people have come to expect from the Tickmill brand. Tickmill operates globally and we have local offices and colleagues in various places. This has been a big help for marketing and it has helped establish ourselves as a trusted local trading partner for many. It helps us get that local feeling right and better understand what the trading community is like in each market.
When it comes to trading, our trading conditions are second to none. We have some of the best spreads out there so it’s really just about pushing out that message and being transparent with people so they can see it for themselves. If you have great trading conditions and great customer support with a trusted regulated broker, what more do you need?
FNG: Now that you’ve had some time to prioritize, what are the key projects you’re working on now at Tickmill?
Nicholas: It’s been busy the last few months. We just ventured back into the crypto space with new crypto assets available to trade. We are also preparing our MT5 launch coming in August and with MT5 will come a new equities offering as well.
Outside of CFD’s, we have been working very hard on our exchange traded derivatives offering since January and while it is still relatively early, it’s interesting to see the high level of interest in the futures product. We’ve partnered with the CME group who are the largest player in the futures and options space and their E-mini and micro products are very relevant to our target audience. It’s important we keep listening to our customers and develop new services like private strategy groups that provide value to our customers.
FNG: How has it been to both change jobs, and manage, through the COVID pandemic?
Nicholas: COVID has definitely complicated things from a relationship building perspective as everyone has been working from home for the most part so really getting to know people has taken more time. I’ve also missed the impromptu nature of being together at an office where you can discuss ideas or sketch out new ideas spontaneously. Team culture is very important to me but it’s hard to maintain virtually.
That being said, we do have strong processes in place and operationally things are running well. I’ve been very impressed with the professionalism of our marketing team so this has helped tremendously with the transition.
FNG: While Retail FX brokers generally, and Tickmill specifically, had a strong 2020 financially, what effects have you observed on the industry through COVID? Especially in Cyprus, which as a culture and economy is so dependent on packed flights and tourists?
Nicholas: As you mentioned, 2020 was actually a very strong year for many brokers so it was in many ways a period of intense growth. We’ve seen many new people discover trading for the 1st time and enter the markets which made a good educational offering even more important by organizing more webinars for example. I think COVID has also shown many companies that working from home is viable and some combination of office and home will be necessary in the future to attract top talent.
The offline meetings and events on the other hand were impacted negatively. While most of what we do is digital nowadays, in many places in the world meeting in person is still a necessity to further solidify business relationships. Expo’s and private events were always a great way for us to meet our clients and partners. However I can see light at the end of the tunnel and we will be in Dubai 2 times this year at 2 different expo’s. We have also started organizing small workshops and seminars again, local regulations permitting of course, and you can see clients really appreciating that.
FNG: What else can we expect to hear from Tickmill in the coming months?
Nicholas: Our updated service offering with equities, crypto’s and MT5 alongside our great trading conditions will be talked about quite a bit in the upcoming weeks and months. We will be working on improving our partnership program which is already pretty great. We’re also very excited to start rolling out our new mobile app soon and last but not least, we are very much looking forward to launching our futures product in more countries in Europe and around the world.
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