It’s always enjoyable when a surprise contender picks up a major industry prize at an international event – especially when the company concerned is a one-year-old start-up.
Such was the case last week in Cyprus at the prestigious Ultimate Fintech Awards. Held yearly at IFX EXPO International, the awards recognise top brands in the B2B & B2C online trading space and provide an industry benchmark of the best companies to do business with.
For 2022, the ‘Best Fintech AI Solution’ title went to QFIL Solutions for its product MAGUS AI – an AI-driven trading solution that assists investors in their trading while offering real-time high-accuracy market readings that minimise risks and maximise profits.
We talked to Hani AlAita, Co-Founder & Managing Director at QFIL Solutions about this important accolade.
It’s quite a feat for a start-up to scoop a top international award. Why do you think QFIL received this instant recognition?
First, it’s a great honour and moment of pride to receive this award from the Forex and FinTech community. Especially standing on world stage next to other great well-established brokers and Fintech Solutions such as Alibaba Cloud (Best Cloud Technology Solution), Kwakol (Best Emerging Broker), Conotoxia (Best Trading Experience), Centroid (Best Bridge provider), to name just a few.
The award is voted for by traders and FinTech thought leaders. It’s a great testimony and vote of trust for us at QFIL to be nominated and then to be recognised as the best FinTech AI solution with this award.
This award reconfirms that when products are developed with the end user in mind to solve tangible challenges they are facing daily; it’s then that you best connect and engage with your clients.
Over six years we’ve been optimising our machine learning to ensure optimal accuracy before establishing the company and launching our product
We are built by traders for traders – and the journey has just started.
The award focused on Magus AI. Can you talk a little bit about how this product is impacting the market – and are there any new products on the horizon?
+80%+ accurate market signals leading to thousands of pips in profits a week. Our MAGUS AI technology is assisting thousands of traders in more than 20 countries to maximise their gains while minimising their risks – on Forex currencies, oil, gold, and high-volume stocks.
What has also been a real benefit to the traders is the recent dynamic gain indicators and profit simulators we’ve added on the signals. This provides better optimised market signals for traders to make their profit strategies for stable gains.
Moving forward exciting new additions are coming – whether on crypto behaviour, or robotic and sequential trading.
What is QFIL's growth plan/goal for the next five years and which countries and markets are you looking at?
Our vision for QFIL is to become the AI Driven trading solution of choice for millennials and GenZ traders worldwide. We pride ourselves on our AI and machine learning capabilities when it comes to trading solutions – and our pipeline of innovations is not standing short from great disruptive solutions in that domain.
Yet will do it one step at a time.
Our first focus has been on Africa as FinTech accelerated trading accessibility over the past few years in that continent. But we’re looking to rollout soon to other key markets including the SEA region.
What challenges and trends do you predict for the trading sector? How is AI providing a solution to these challenges?
Over 60% of online traders today are millennial and GenZ traders and their trading habits and expectations from solutions differ quite a bit from traditional traders – especially when it comes to trading technology. They expect it to do much more to help them and expedite what they’re doing – like many other verticals.
This is where the role of AI becomes a caterpillar in assisting these younger traders. It costs less time, has less risk, and it’s less old fashioned – it’s much more towards their trading habits and usability requirements. At CAGR of 5% for 2022 to 2028, AI has been identified as a key driver for trading solutions adoption.
Any other comments about winning this award?
It is when brokers, traders and FinTech industry thought leaders vote for us as the best AI trading solutions that we know we’re really on track in our vision to become one! Thanks to everyone for trusting us. Stay tuned for more to come.