Instruct FX

ANDREW MREANA

Founder and CEO of Instruct FX

Q Why did you start InstructFX?

I started InstructFX because I have a message to pass and from the employee position it was very difficult to do so. Also, after 10 years in the Financial Markets I realised that a lot of people need help now more than ever when it comes to online trading as the trust in the industry started to fade due to a very high number of fraudulent companies and changes in regulation. Many retail traders are misled in believing that they can realize tremendous profits over a very short period with little to no prior knowledge about the financial markets.

Most retail traders are explained the basics and then abandoned if they cannot deposit more money for the broker to benefit in a way or another. Many traders are scammed by unregulated companies only because they don’t know what to ask for, when approached by sales agents.

Through my Podcasts & Daily Streams I try to help people understand the basics of trading and all I want to do is pass the correct information to my viewers so everyone can make an informed decision when it comes to online trading and investments.

Q What tips would you give entrepreneurs to go in on their own?

If you thought that working for someone else is tiring, just wait until you run your own business.

On the other hand, if you are good at what you do, if you have a dream, if you are determined to change your life and if your product could make a difference, take a deep breath and do it. It will be difficult, it will be tough, but the rewards are much more satisfying than any other job you might do for any employer for any amount of money.

Q GC has always been critical of inhouse ‘trading gurus’, what makes you different?

Andrew Mreana Founder and CEO of Instruct FX

Yes, I know that :) I never claimed that I am a “trading guru’’. My experience in the Financial Markets is real and public, and my goal is to help people understand the hidden corners of the online trading industry and point them into the right direction so they can make an informed decision when they come across this type of investments. I never give investment advice or manage people’s funds. All I am doing is sharing the experience that I gathered in 10 years of hard work in the front line. I am also against ‘’trading gurus’’ that never worked in the industry.

Learning to trade from someone that never worked in a forex firm or in the financial industry is like going to a hospital and asking a patient what is the best medicine for your condition. Would you do that? Probably not.

There is much more to it than just explaining someone some basics of trading and how to read the charts. You have to provide the information in a regulated manner, highlighting both sides of the coin and not just highlight the potential profits. You can’t mislead the people in believing they can make a fortune over night without any prior knowledge about trading and this is what most ‘’trading gurus’’ are doing which is not just sad but also illegal. So, this being said, I think I am a bit different than most ‘’gurus’’.

Q Do you find it hard to continuously generate content?

To be honest, not really. I’ve learned so much about the industry in the past 10 years that I could generate content daily for the next 10 years and there is always something happing in the markets that gives me something to talk about.

The problem is, passing that information to the average trader in such a way that it’s easy for them to comprehend and as fast as possible. Finding the time to organize everything can be quite challenging because there are many events and announcements that come

out every day and by the time, I see the news and prepare to go live something else might happen that will completely change the direction of the markets.

Generating content would be much easier if the day would be 36 hours long :)

Q Do you think there will be a new platform outside of YouTube to get a following in the future?

For sure. There is a huge amount of content created right now as many people during lockdown felt the need to express themselves, maybe some of them decided to change their career, maybe others had a project on stand by for a long time and now they decided to go public so very likely we will see something similar to YouTube launching really soon as there is an influx of content right now everywhere.

InstructFX tries to be ahead of the game, and we are already broadcasting on 9 podcast channels, on 3 social media channels, on Twitch.tv and soon we are looking to broadcast in FM as well.

Q I think personally that this type of medium you have developed is great for personal brand building. How do you offer your sponsors value?

That’s a great question Paul. We offer our sponsors value through Marketing and Introducing Broker services. We want to show the world that online trading is a legit business that legit companies have a face, that their CEOs are willing go public and talk about the business so traders can be rest assured in terms of professionalism and transparency when they trade with one of our partners. On the other hand, our sponsors know that InstructFX is not misleading the clients in any way and that we work in a regulated manner.

InstructFX basically acts as a middleman between the retail client and the forex firm, just like the forex firm acts as a middleman between the client and the liquidity provider.

On one hand we make sure that all our partners are legit and they conduct the business in a professional manner, and on the other hand we make sure that the traders know exactly what they are getting themselves into and we even help them understand how it works and hold their hand for the first few weeks or trading.

Q The personal view of GC is that such mediums as CNBC and Bloomberg are for the last decade if you want to get your retail brand visible. Would you encourage more to develop something like you have done, or is it best to use your brand?

You have a point. However, all the big networks talk about the stock markets and the general condition of the markets. They are not focused on the retail side of trading or the online trading industry like InstructFX is. We want to help the retail trading community by providing them spot on information about this specific industry which is online trading and we operate an open-door policy. We give every trader the opportunity to come public and share their experience, good or bad, with the entire world through our daily broadcasts.

I don’t remember when last time I saw an average retail trader being interviewed by one of the big TV channels. Do you? Or when a big TV channel exposed a fraudulent forex firm and informed the retail traders about the risks involved in trading before it was too late. This is the niche that InstructFX found in the market. We are not planning to become the next Bloomberg or CNBC. We are planning to become the first InstructFX that looks after the retail traders.

And to answer your second question, we are open for business of course but it is entirely up to them. We have a proven business model, we know what we are doing and where we want to get with the project so, I can’t tell anyone what to do with their business. If you have a good business plan, if you have a dream,

the experience and the tools to pursue that dream don’t let anyone stop you from achieving it.

Q How do you think you can evolve InstructFX? New presenters etc?

Yes. We have a new format ready to go but the Covid pandemic intensifying again and the lockdowns made us delay the launch of the new format of the show. Our plan is to broadcast Live for at least 6 hours every day to start with, and give value to the retail trading community with various daily shows and topics. I am currently looking for 2 more presenters to join InstructFX Daily Broadcasts but given the current situation I will delay it hopefully until March.

We also had to postpone one of the biggest open door trading seminars called STOP FOREX SCAM that we wanted to organize this year along with our partners and 2 other projects as well but I am confident that things will get back to normal soon and then we can push the pedal again.

Q Anything new coming up for 2021?

Apart from the projects that I mentioned previously, we are planning to start broadcasting in FM or DAB radio but we are still testing the best option for the moment. It’s all in the hands of Covid right now so I can’t say for sure when this will happen but it’s definitely one of the priorities.

Q Are you onboarding any new partners?

We are currently in talks with 2 more partners but I can’t disclose more right now.

Q What are the criteria for the partners Andrew? What boxes should they tick?

First of all, they have to be regulated, transparent, professional and think long term. Due to the complexity of the business, I only do business with a company after a personal meeting with their CEO or someone in the higher management of the company. If I will take the responsibility of promoting that firm and bringing business to them, I have to make sure that they are legit and that the traders that I bring to the business are looked after in a professional manner.