Breaking news:
All you need in Forex
Meet Omar Qaryouti: Forex leader pushing his comfort zone
03/11/2016
Meet Omar Qaryouti: Forex leader pushing his comfort zone

The 40 Forex Leaders under 40 campaign seeks to acknowledge Forex Industry leaders who work hard to make your trading experience better. Meet Omar Qaryouti, a Forex leader nominated for the Best Institutional Sales category.

3 November, AtoZForex – Forex is the most liquid market in the world. It is the only global market that never sleeps, except in the weekends, and its trading daily volume is 4 times bigger than the global GDP. Considering the ever-evolving nature of the Forex industry with constantly improving regulation and technology, the market participants have to adapt, grow and innovate.

Particularly in the retail segment of the Forex market, Forex Brokers need to adjust and enhance their operations to meet the needs of clients. Thereby, talented and persistent professionals are demanded. To celebrate these professionals, AtoZ Forex’s 40 Forex Leaders under 40 campaign brings those leaders who work hard to make your trading experience better.

In today’s interview, we meet Omar Qaryouti who is nominated for the Best Institutional Sales category. Omar has been working in the FX industry for over 9 years, building a reputable track record within the region while specializing in both retail and institutional sales. Having worked with several leading global institutions in the industry, Omar has led sales teams and currently holds the title of Senior Vice President at ADS Securities.

Polina: “Omar, congratulations on being nominated. For our readers, I would like to ask: What is your life motto?”

Omar Qaryouti: “Life can be very unpredictable, similar to financial markets. One must expect and be prepared for anything life may throw at you.”

Polina: “Was it a long time dream of yours to work in the Forex market? What brought you eventually to the FX market?”

Omar Qaryouti: “To be honest, it wasn’t a passion or a dream of mine, but a pure coincidence. I didn’t know much about the Forex industry at first, I only took a job that seemed promising. However, as my time and experience in the FX industry grew, it developed into a passion.”

Polina: “Considering your successful career. What is your greatest professional achievement?”

Omar Qaryouti: “During the first phase of my career, I worked as a salesperson and later led a sales team in the retail side of the business. Eventually, my curious nature had me wanting to learn and experience more as I began seeking out other areas and roles within the industry. I discovered the institutional side of the business and shifted my focus there. Although it was new to me I was able to adapt with great success; ultimately adding even more layers of knowledge and cross-functional experience to my career.”

Polina: “Thank you, for sharing with us your greatest achievement. Next, I would like to ask what has been the most challenging part for you so far?”

Omar Qaryouti: Sometimes clients are lured by “too good to be true” offers from other providers in the market, which are in most cases unsustainable. As we have seen in past and present, a lot of these providers presenting these offers, eventually go out of business for various reasons. It is sometimes a challenge to keep the clients’ attention focused on what is important alongside the offer, such as the financial security and level of service of their providers.

I’m glad to say that in most cases, I have been able to steer my clients in the right direction via transparency and trust.”

Polina: “What do you love the most about your current position as Senior Vice President?”

Omar Qaryouti: “When you think you have seen it all, something will always surprise you. When you think you have experienced it all, you will always find yourself learning something new.”

Polina: “Rounding off your work-related questions, our readers would like to know what is your vision of the Forex market?”

Omar Qaryouti: “It is becoming more difficult to run a brokerage. With more sophisticated traders, tighter regulations, capital requirements and the increasing costs of client acquisition, it is harder for companies to survive in a highly competitive industry. Via participant exits, mergers and acquisitions, we will be seeing further consolidation among providers. There is a brighter side for clients in that they will have fewer, but more reliable and secure providers to trade with.

Also, credit appetites of Prime Brokers have changed as a result of events such as SNB and most recently the flash crash, leading them to scrutinize their clients’ business models and request higher levels of collateral. We have already seen several PBs exit the space and I believe there will be more to come. On the other hand, this has created an opportunity for larger, more cash rich liquidity providers to enter the Prime of Prime space.”

Polina: “You have worked mostly in the Middle East. How do you think the Arab Forex market will develop further?”

Omar Qaryouti: “Regulation in the region is on the rise, which is a good thing for both companies and their clients. Previously, clients were trading with foreign firms directly or via unlicensed representative offices in the region. Now with the emergence of sophisticated and fully licensed local providers, and more opportunities for reputable foreign firms to acquire licenses to operate legally and freely in the region, clients will be able to trade in a more regulated environment.”

Polina: “Is there anything you can advise to people freshly entering into the brokerage side of the retail FX?”

Omar Qaryouti: “My advice for anyone entering a role in the brokerage side of the business will be to invest in your career. Gain as much knowledge and experience in what you are doing and don’t stay in your comfort zone. Knowledge and experience will enable you to serve your clients well and progress within your organization and career.

Also, this young industry is full of intelligent professionals, which can be found in every brokerage firm, large or small. It would be a good idea to find a suitable mentor to learn from.”

Polina: “I know you are not allowed to trade, however, having been to the industry for such a long time now, what is the biggest recommendation you can give to traders?”

Omar Qaryouti: “The obvious advice here for traders is to ease their way into the market because becoming a successful trader takes time and experience. Also, retail traders tend to wait longer for their losing positions to turn around while not applying the same patience on their winning trades to realize a greater potential. Once a trader learns to control their emotions and reverse that practice while cutting their losses early and riding the wave of their successful trades, then the chance for overall success is much greater.”

Polina: “We started the interview with your life motto, to end this interview I would like to note down a quote from you.”

Omar Qaryouti: “Gain as much knowledge and experience in what you are doing and don’t stay in your comfort zone.”

Do you know any other Forex Industry experts qualifying the 40 Forex Leaders under 40 nomination? Contact us.

(687)

Share via Twitter Share via Facebook Share via LinkedIn Share via Google Plus

Subscribe to AtoZ Forex exclusive updates!