In part two of the review of the iFX Expo, we take a look at the importance of being a global brand, automation and lack of regulation.
In part two of the ‘What I Learned at the iFX Expo’ series we continue to delve into some of the interesting revelations emanating from the event. Part one focused on why localization is important for the sales and marketing process for brokers, how MT4 is growing without localization and what is hampering the existence of a killer mobile app.
iForex
No, not that iForex broker, I am talking about Apple, yeah the iPhone company. If they entered the Forex market they would just kill it in China.
Why? Well one of the surprising things to me was that Chinese traders are valuing global brands ahead of foreign players. In actuality, this shouldn’t be such a surprise when we take into account the demand for products from globally recognized brands such as Apple, Rolex, Versace and Tiffany.
In the forex industry, this has led foreign players to be viewed as more reputable. This was explained by Francis Lee, Head of FX APAC Region at ADS Securities, during the CEO panel, when he stated that Regulation inflation is taking place in the country. Therefore, if a broker comes to town showing it has regulation from lots of places the better.
This has led to a trend of brokers in China opening up offices in other countries to become regulated there. A few years ago NZ was the prime destination, but this has evolved to Australia, Cyprus and the UK.
Automation
An interesting debate is how technology advanced Asia. Strolling around Hong Kong, there is a feeling that you are living in the future. So, there is no denying that technology is not only being embraced, but is being led by the East.
But, one area the region seems to be catching up in is in relation to big data, automation, and algo trading. For example, with the exception of a few platforms such as from Traders Securities, algo trading is limited in Japan's retail market. This is despite the country leading the world in retail forex volumes.
Elsewhere, in a conversation with cPattern CEO Oded Sheffer, he cited seeing similar findings from brokers in Asia that his firm has been communicating with. Sheffer found that while brokers are able to scale their business quickly and adopt new products, areas such as automated marketing through emails and targeted behavior initiated notifications are lacking.
This trend also emerged during the CEO panel. When asked how some of the world's largest brokers including Saxo Bank, GAIN Capital, OANDA and Alpari are marketing in China, they are overwhelmingly focusing on partnerships.
This was interesting as participating on the marketing panel was Frankie Ho, general manager of Baidu. Within the panel he discussed data based search engine marketing opportunities that are available for brokers to acquire customers in China. As such, it appears that at least for the forex industry, there are areas of Asia where use of data is either being ignored, or information isn't complete enough to use it to base decisions on.
Growth in no regulation
Can you guess what two countries were cited as the most interesting in Asia? The names I heard the most often were China and Malaysia. China is desirable for the massive size of its market and Malaysia because of the adoption of multilevel marketing which has enabled brokers to find willing partners in the country.
But, neither has formal forex regulation in place. In Malaysia’s case, they banned it a few years back. This has resulted in local firms scaling back their operations, but foreigners coming in to market.
In China, there is no formal opinion from the government of their view towards forex and binary options. What does exist are overall business rules requiring foreign businesses to partner with local firms to operate in the county. Except for that facet of operating in China, everyone seems to have an opinion about everything else including the future of forex and binary options, but who knows what really is going to happen there.
The bottom line is that the two countries viewed as having the most growth in Asia, may also provide the largest problems in the future for brokers operating there.
In part two of the ‘What I Learned at the iFX Expo’ series we continue to delve into some of the interesting revelations emanating from the event. Part one focused on why localization is important for the sales and marketing process for brokers, how MT4 is growing without localization and what is hampering the existence of a killer mobile app.
iForex
No, not that iForex broker, I am talking about Apple, yeah the iPhone company. If they entered the Forex market they would just kill it in China.
Why? Well one of the surprising things to me was that Chinese traders are valuing global brands ahead of foreign players. In actuality, this shouldn’t be such a surprise when we take into account the demand for products from globally recognized brands such as Apple, Rolex, Versace and Tiffany.
In the forex industry, this has led foreign players to be viewed as more reputable. This was explained by Francis Lee, Head of FX APAC Region at ADS Securities, during the CEO panel, when he stated that Regulation inflation is taking place in the country. Therefore, if a broker comes to town showing it has regulation from lots of places the better.
This has led to a trend of brokers in China opening up offices in other countries to become regulated there. A few years ago NZ was the prime destination, but this has evolved to Australia, Cyprus and the UK.
Automation
An interesting debate is how technology advanced Asia. Strolling around Hong Kong, there is a feeling that you are living in the future. So, there is no denying that technology is not only being embraced, but is being led by the East.
But, one area the region seems to be catching up in is in relation to big data, automation, and algo trading. For example, with the exception of a few platforms such as from Traders Securities, algo trading is limited in Japan's retail market. This is despite the country leading the world in retail forex volumes.
Elsewhere, in a conversation with cPattern CEO Oded Sheffer, he cited seeing similar findings from brokers in Asia that his firm has been communicating with. Sheffer found that while brokers are able to scale their business quickly and adopt new products, areas such as automated marketing through emails and targeted behavior initiated notifications are lacking.
This trend also emerged during the CEO panel. When asked how some of the world's largest brokers including Saxo Bank, GAIN Capital, OANDA and Alpari are marketing in China, they are overwhelmingly focusing on partnerships.
This was interesting as participating on the marketing panel was Frankie Ho, general manager of Baidu. Within the panel he discussed data based search engine marketing opportunities that are available for brokers to acquire customers in China. As such, it appears that at least for the forex industry, there are areas of Asia where use of data is either being ignored, or information isn't complete enough to use it to base decisions on.
Growth in no regulation
Can you guess what two countries were cited as the most interesting in Asia? The names I heard the most often were China and Malaysia. China is desirable for the massive size of its market and Malaysia because of the adoption of multilevel marketing which has enabled brokers to find willing partners in the country.
But, neither has formal forex regulation in place. In Malaysia’s case, they banned it a few years back. This has resulted in local firms scaling back their operations, but foreigners coming in to market.
In China, there is no formal opinion from the government of their view towards forex and binary options. What does exist are overall business rules requiring foreign businesses to partner with local firms to operate in the county. Except for that facet of operating in China, everyone seems to have an opinion about everything else including the future of forex and binary options, but who knows what really is going to happen there.
The bottom line is that the two countries viewed as having the most growth in Asia, may also provide the largest problems in the future for brokers operating there.
FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.
FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.
FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.
FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.
Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24
Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24
Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24
Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24
Finance Magnates Annual Awards 2024 | FM Awards 2024 Highlights
Finance Magnates Annual Awards 2024 | FM Awards 2024 Highlights
🎥Catch the best moments from the Finance Magnates Annual Awards Gala Dinner!
An evening where top names in finance came together to celebrate achievements, enjoy live music, and connect over a memorable dinner. Watch the highlights and feel the energy of our first gala in Cyprus!
Congratulations to all the winners for their dedication to excellence and leadership in the financial industry, including XM, Trading PRO, FP Markets, Deriv, FxPro, LATAM, Headway, ATFX, FBS, AMEGA, EC Markets, Axi
For more information about the 1st Finance Magnates Annual Awards, visit https://bit.ly/3Zb7wNz
#FinanceMagnatesGala #IndustryExcellence #GalaHighlights #FinanceMagnatesAnnualAwards #FinanceMagnatesAwards #CelebratingSuccess #FinanceCommunity
🎥Catch the best moments from the Finance Magnates Annual Awards Gala Dinner!
An evening where top names in finance came together to celebrate achievements, enjoy live music, and connect over a memorable dinner. Watch the highlights and feel the energy of our first gala in Cyprus!
Congratulations to all the winners for their dedication to excellence and leadership in the financial industry, including XM, Trading PRO, FP Markets, Deriv, FxPro, LATAM, Headway, ATFX, FBS, AMEGA, EC Markets, Axi
For more information about the 1st Finance Magnates Annual Awards, visit https://bit.ly/3Zb7wNz
#FinanceMagnatesGala #IndustryExcellence #GalaHighlights #FinanceMagnatesAnnualAwards #FinanceMagnatesAwards #CelebratingSuccess #FinanceCommunity
FMLS:24 | Shaping the Next Era of Financial Evolution
FMLS:24 | Shaping the Next Era of Financial Evolution
Welcome to FMLS:24 – the premier event where influential brands and leaders in trading, payments, fintech, and digital assets come together!
Join over 2,500 industry professionals, engage with 150+ expert speakers, and discover endless opportunities with 70+ top exhibitors. FMLS:24 is where senior executives and decision-makers gather to close deals, forge new partnerships, and strengthen connections with long-term clients.
Whether you’re in finance, technology, or payments, this summit is your gateway to future growth, meaningful collaborations, and industry-leading insights.
👉 Don't miss out – secure your ticket now at https://events.financemagnates.com/ZQEYy0?utm_source=youtube&utm_campaign=fmls24-awareness&utm_medium=video&RefId=MLS%3A24+Video+Promo
#fmls #fmls24 #fmevents #financemagnates #forex #payments #crypto #events #london #fintech #ai #generativeai #technology #onlinetrading #forex #investing #investors #tech
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Welcome to FMLS:24 – the premier event where influential brands and leaders in trading, payments, fintech, and digital assets come together!
Join over 2,500 industry professionals, engage with 150+ expert speakers, and discover endless opportunities with 70+ top exhibitors. FMLS:24 is where senior executives and decision-makers gather to close deals, forge new partnerships, and strengthen connections with long-term clients.
Whether you’re in finance, technology, or payments, this summit is your gateway to future growth, meaningful collaborations, and industry-leading insights.
👉 Don't miss out – secure your ticket now at https://events.financemagnates.com/ZQEYy0?utm_source=youtube&utm_campaign=fmls24-awareness&utm_medium=video&RefId=MLS%3A24+Video+Promo
#fmls #fmls24 #fmevents #financemagnates #forex #payments #crypto #events #london #fintech #ai #generativeai #technology #onlinetrading #forex #investing #investors #tech
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
📸 Instagram: https://www.instagram.com/fmevents_official
🐦 Twitter: https://twitter.com/F_M_events
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!