The Australian-based CFD broker, GO Markets has teamed up with Currencycloud to simplify multi-currency business operations. This partnership aims to automate the process of client deposits and withdrawals and to offer real-time API-driven competitive foreign exchange rates the companies said.

At the center of this collaboration is a virtual multi-currency account, which serves as a gateway for GO Markets to accept wire payments across various local and SWIFT payment rails. According to a statement shared with Finance Magnates, this approach enhances the efficiency of fund uploads, thanks to the automation Automation Automation is defined as the procedure of making an apparatus, a process, or a system to operate by mechanical or electronic devices that replace human labor. Additionally, automation is also sometimes referred to as mechanization or robotization. For example, employees have many costly needs, including government regulations. However, robotic workers don’t need much other than some routine maintenance and the occasional bug fix for an equipment malfunction or software bug. There is no overtime Automation is defined as the procedure of making an apparatus, a process, or a system to operate by mechanical or electronic devices that replace human labor. Additionally, automation is also sometimes referred to as mechanization or robotization. For example, employees have many costly needs, including government regulations. However, robotic workers don’t need much other than some routine maintenance and the occasional bug fix for an equipment malfunction or software bug. There is no overtime Read this Term facilitated by Currencycloud's platform.

Streamlining Global Trading Services

Soyeb Rangwala, the CFO Director at GO Markets, said: "Integrating Currencycloud enables us to provide our clients with a complete global trading experience with expanded funding and withdrawal options. We look forward to enabling GO Markets' expansion plans as they add new currencies, jurisdictions, and products into their repertoire."

Additionally, GO Markets expects to benefit from the real-time foreign exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term liquidity that Currencycloud brings onboard as a gateway to new markets. GO Markets was established in 2006 as a provider of online CFD trading services. The broker offers a wide array of tradable CFD instruments, spanning forex, shares, indices, metals, and commodities.

About three weeks ago, GO Markets selected Options Technology as the primary market data provider to support its operations in the Asian market. According to the company, this collaboration enables the delivery of market data and CFD products, initially focusing on the Hong Kong Stock Exchange. Under the agreement, Options will provide risk monitoring, data management solutions, and technological infrastructure to GO Markets.

GO Markets' Expansion Plans

Commenting on the partnership, Rangwala said: "Options' advanced market data capabilities align perfectly with our vision of providing top-notch services to our clients. Their technology and expertise will strengthen our risk management framework and empower us to expand our presence in the Asian markets."

GO Markets has since expanded its operations to the Middle East and North Africa (MENA) region by obtaining a broker license from the United Arab Emirates (UAE) regulatory authority. The UAE broker license was awarded to the company's subsidiary, GO Markets MENA DMCC, in 2020. This approval enables the company to offer financial services within the UAE.