MahiFX Continues Transition Away from Retail FX, Launches New Website

MahiFX announced this Wednesday that it has launched a new website, in order to reflect the progression of the company’s brand, as it moves away from its retail trading operations in the foreign exchange (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) space.

Towards the end of last year, MahiFX announced that it would be closing its Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term as part of the company’s strategy to refocus as a business-to-business technology provider for banks, brokers, and financial institutions.

MahiFX refocuses as a technology provider

Under the new website, MahiFX is instead establishing itself as a technology provider, as the company has been crafting eFX solutions for banks and brokers since 2010, which is now the company’s focus.

As Finance Magnates reported exclusively, today’s announcement is the result of the New Zealand and Australian regulated FX brokerage being acquired by LGT Solutions Ltd, which led to the closure of its trading platform and company transition.

Commenting on the changes, Susan Cooney, the firm's co-founder said in the statement: "The new website centres on both our technology as well as our people, because this is one of the things that sets us apart. Whilst technology is very important, the insight on how to use it intelligently is vital."

“The market has become increasingly challenging. In the past it was possible to just install technology, aggregate pricing and run an e-FX business - this is no longer the case. Our role is looking at the problems clients are facing, diagnose issues and ensure they are then armed with the technology and know-how to solve those issues.”

“We focus on optimising PnL through our automated market making and risk system, as well as providing clients with a powerful analytical system. Users can delve into a range of enquiries around pricing, hedging and client activity, giving them fantastic visibility on their trading…”

As Finance Magnates reported, last year, MahiFX revealed that it was selling its regulatory licenses in the United Kingdom, Australia, and New Zealand. The UK operations of the Group was acquired by FXDD, an institutional and retail forex broker.