Transparent FX Trustpilot has developed a niche for itself by offering a comprehensive and user-friendly platform for trading forex. The service is free to use, with an NRR of around 90%. It is available in the UK and Europe, and can be used by small to medium-sized businesses. This makes it a great choice for those who are just starting out in the industry. However, the focus on the small and medium-sized businesses will mean that returns will be limited.
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NRR benchmarked at around 90%
A brief perusal of Trustpilot’s website reveals that the company is not exactly short on cash. In fact, the company recorded a 130%+ NRR in Q4 of fiscal year 2012, and is on track to reach $1 billion in revenues by the end of the current fiscal year. While the company may be a one-trick pony, it isn’t without its share of rivals. Indeed, competitors in Europe and the UK are aplenty.
Trustpilot also does not disclose its customer mix in any detail, but it does mention making a few savvy acquisitions, including a major move into the US market, where the competition is stiff. Moreover, Trustpilot has done a decent job of attracting users through a mix of free and paid services, as well as through its in-house customer service. This has helped boost its brand awareness, and has yielded several high-profile wins over the past few years. With the potential to gain some traction in the states, the company could be a prime target for a buyout in the near future.
Freemium business model
Freemium business models are a form of marketing strategy that seeks to attract new users and entice them to pay for a premium service. The basic features of the freemium service are provided for a limited time for free. During this period, users can upgrade to the more advanced, paid versions of the service.
Freemium models are often used in the software, music, and games industries. However, there are some risks associated with using this strategy. In fact, the model can actually create a negative user experience.
One risk in using the model is that the freemium service may dilute the economic value of the product. Because there is no entry price, consumers are unaware of the full cost of the product.
Competitors in the UK and Europe
The European Union and the United Kingdom have long shared a common economic and regulatory space. But as of January 2021, that will change. For example, the UK will no longer be part of the Customs Union. And that’s not to mention the loss of the seamless access to the EU Single Market. This will have an adverse impact on the UK economy in the medium term. A recent study by the Office of National Statistics (ONS) estimates that by 2021, the UK will be relying on the EU for half of its total trade in goods.
On the flip side, the UK will also miss out on most of the EU’s technological nirvana – namely, a fully integrated EU-wide data and communications infrastructure. In fact, according to ONS figures, the United Kingdom is already lagging behind the rest of the continent in some areas.
Transparent Fx trading school is a great option for a trader who is looking to improve his or her skills. This program offers three different courses that focus on trading strategies, risk management and market sentiment coverage.
The complete trading course consists of 202 lessons that include interactive quizzes and practical assignments. You will also receive a diploma if you pass all the assessments. If you wish, you can receive personal tutoring from Thomas Kralow.
The assisted plus course is a more advanced option that includes a mentorship program with Kralow. While it comes at a hefty price, it provides extra features and access to his mentorship.
Transparent Fx offers an effective mentoring program that teaches you everything you need to know to become a successful trader. It includes a mentorship package that allows you to gain real-world experience, gain insights from more experienced traders, and network on Slack.