FXCC Creates New Payment Method for Chinese Traders via Netbanx Asia

CySEC CySEC The Cyprus Securities and Exchange Commission (CySEC) is a financial regulatory authority of Cyprus. CySEC is one of the key watchdog authorities for brokerages in Europe, whose financial regulations and operations comply with the European MiFID financial harmonization law.Founded in 2001, CySEC is instrumental in providing licensing and registration for forex brokers and previously binary options providers.CySEC is responsible for a variety of different functions, which includes the supervision The Cyprus Securities and Exchange Commission (CySEC) is a financial regulatory authority of Cyprus. CySEC is one of the key watchdog authorities for brokerages in Europe, whose financial regulations and operations comply with the European MiFID financial harmonization law.Founded in 2001, CySEC is instrumental in providing licensing and registration for forex brokers and previously binary options providers.CySEC is responsible for a variety of different functions, which includes the supervision Read this Term-regulated 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 broker FX Central Clearing Ltd (FXCC) has introduced a new payment facility for its clients via Netbanx Asia. It offers a local bank transfer system for Chinese residents, enabling the company's clients from China to transfer money without extra international transaction costs.

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As Netbanx Asia's payment gateway mainly focuses on Chinese e-commerce, it provides users from China with favourable conditions for transacting online.

Saed Shalabi, FXCC director, explained the rationale for the move: "Without a doubt the China forex market offers exponential growth opportunities for ambitious forex brokers. We pride ourselves on being a truly global broker, who easily communicates with and understands the requirements of traders worldwide.

As the globe's second largest economy, predicted to soon overtake the USA as the number one, the growth in FX trading will no doubt match China's exponential growth in all other areas of their economy. The acceptance of the Yuan (the renminbi) throughout global markets and the encouragement of trading of the yuan through, for example, London, which is still the globe's major trading forex venue, ensures that transactions in the Chinese currency are becoming far more common place.

We therefore need to stay ahead of the curve and ensure we're in a position to benefit from any increased Asian business, particularly from China. In forging this relationship with Netbanx we believe we're positioning ourselves in anticipation of a potential surge in future FX trading from China."