Peter Karsten Appointed CEO of Offshore Brokerage IX Securities

Peter Karsten, a former sales consultant at the London Capital Group, has been appointed as CEO to a new Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term and CFDs brokerage called IX Securities. The company is based in the Bahamas and is part of a growing number of new brokerage operations entered offshore.

The change was reflected on the LinkedIn profile of Karsten. The company states on its website that it is regulated by the Securities Commission of The Bahamas, and is registered in Nassau.

The new CEO of IX Securities has significant experience in the industry. Karsten was the CEO of BDSwiss between February 2014 and November 2015. He later joined Infinox Capital as Commercial Director and London Capital Group as a Sales Consultant.

Finance Magnates has reached out for comment to Karsten, but at the time of publication, he hasn't responded.

Offshore Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term Challenges

The biggest challenge offshore brokers are facing is payments. Currently, IX Securities is working with bank wires, 2pay4you, Western Union, Vload, Bitcoin, Fasapay and Perfect Money. The common thing about all of these payment methods is that clients can not do chargebacks.

The high-risk payments industry has been looking for solutions in the aftermath of the reclassification of forex and CFDs brokers transactions by VISA and MasterCard last year.

Brokers located offshore are deemed too risky to deal with even by unregulated payment institutions.

The rise of the popularity of offshore companies comes after the European Securities Markets Authority (ESMA) last year changed the leverage requirement for European clients. Since then, offshore brokers have been mushrooming in the Pacific and the Caribbean, aiming at EU-based clients who are looking to place highly-leveraged bets.