CySEC -regulated Forex 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
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."
