David Bily is the founder and CEO of Moneta Markets, a Dubai-based CFD brokerage launched in 2020.
Over the past 15 years, I’ve journeyed through the dynamic world of forex and contract for difference (CFD) trading, starting as a sales desk staffer at a small Sydney brokerage and later founding my own CFD brokerage.
The goal was to empower traders with tools and trust in a complex market. This path—full of surprises, setbacks and hard-earned lessons—has revealed teachings that can guide new traders and aspiring industry leaders, no matter which platform or broker they choose.
Building Trust Through Transparency
Early in my career, I noticed many brokerages leaned heavily on false promises—guaranteed profits or exclusive tools that seemed like a “holy grail” of sorts. But after falling for the hype, traders soon see through these promises and come to value reliability. For those building a brokerage, this means prioritizing a solid foundation: top-tier licenses, secure systems, transparent pricing and fast execution. One misstep, like a platform outage during a market surge, can undo years of goodwill.
For new traders, this lesson is about skepticism. Don’t take a broker’s claims at face value. Check their regulatory licenses, read independent reviews and start with small trades to test their platform. Always dig deeper—trust is earned, not promised.
Keep Technology Simple And Purposeful
Technology defines the financial services industry, from providing real-time data and automated strategies to allowing for superior trade execution. When we launched our brokerage, we invested heavily in a range of tools and technology: trading platforms, mobile access, risk management, data centers and trade servers, just to name just a few. Along the way, we learned that complexity can overwhelm, especially for beginners. Our primary focus was on speed and stability, not on overcomplicating things with complex trading platforms.
For industry leaders, the takeaway is to solve real problems with technology, not add bells and whistles. A cluttered platform drives users away. For traders, choose tools that match your experience level. A related and common error is jumping into sophisticated platforms too soon. We tend to notice that beginner traders all too often overload their charts with all the latest “magic” indicators, only to miss quality trades because they struggle to navigate the chart and have too many different indicators conflicting with each other. Start simple, master the basics and scale up gradually.
Learn From Failure, Don’t Fear It
One of my biggest mistakes was scaling our brokerage too quickly. Eager to enter new markets, we underestimated the regulatory and logistical hurdles. A licensing delay in one region can set you back months, draining resources. That setback taught us to prioritize planning over speed, and our global reach is stronger today because of it.
Traders face a similar lesson in discipline. Many chase quick profits in volatile markets, only to freeze when trades turn against them. We often observe traders holding onto losing positions for too long, hoping they would rebound—they frequently don’t. The fix is straightforward: use stop-losses, follow a trading plan and treat losses as lessons. Failure, whether in business or trading, sharpens your edge if you analyze it.
Key Risks To Sidestep
CFD trading offers unique advantages—leverage, diverse assets and flexibility to profit in rising or falling markets—but there are pitfalls. Over-leveraging is a trap that can erase a trader’s account fast. All too often, novice traders max out leverage on trades during a market dip, losing everything in hours. To avoid this, keep leverage low—only risk what you can afford—and diversify across a range of asset classes like forex, indices, share CFDs and commodities.
Another mistake is chasing “foolproof” strategies or signals. No system guarantees wins. Always verify advice, backtest strategies, and rely on your own analysis. Critical thinking is your best tool.
Industry Trends To Watch
The CFD landscape is shifting. Mobile apps have opened trading to millions, but they’ve raised expectations for seamless, user-friendly experiences. Stricter regulations are also reshaping the industry, pushing out unreliable brokers while increasing costs for new entrants. For leaders, this means balancing innovation with compliance. For traders, it’s a reminder to stay updated on rules that could impact your accounts, like changes to leverage and local regulatory requirements.
Education is another growing focus. Traders want more than platforms—they seek knowledge to trade smarter. We’ve responded with webinars, market insights and in-house market analysis, which has deepened client loyalty. New traders should look for brokers who offer robust educational resources, for these signal a commitment to your success beyond just transactions.
A Personal Note
My drive to start a brokerage came from frustrations I observed while trading and investing with other brokerages. Opaque fees, clunky platforms and brokers who prioritised profits over people pushed me to create something better. With the backing of investors who shared this vision, we built a business focused on empowering traders. Their strategic advice—not just their funding—helped us navigate early challenges and grow thoughtfully.
The CFD industry is demanding but rewarding. For traders, it’s a chance to seize opportunities with discipline and strategy. For entrepreneurs, it’s a space to innovate and make an impact. My advice to anyone stepping into this world is to stay curious, embrace setbacks and focus on what matters: delivering value and earning trust.
