AxiTrader Adds Hong Kong Dollar Pairs at the Most Geopolitically Opportune Time
by
George Tchetvertakov
With growing public unrest in Hong Kong gyrating the HK dollar, AxiTrader makes several HKD pairs available to cater for traders looking to take advantage of changing geopolitical trends.
AxiCorp, one of Australia’s most prominent retail FX brokers, has unveiled 12 new currency pairs to be made available to its Australian client base from today.
In a low-key launch, the broker emailed its clients informing them of the additional trading instruments. The new pairs include USD/THB and two new metals markets -platinum and palladium. The broker is quoting spreads of between 40-150 pips on spot platinum for both standard and pro clients and 30-279 pips on spot palladium.
Phil Horner, Sales and Marketing Manager at AxiTrader, said: “We believe the timing of the launch for pairs such as USD/HKD and EUR/HKD is extremely fitting given the current Volatility in HKD due to the protests, though we’re most excited about platinum and palladium as being a unique offering which we believe we’ll see a lot of other brokers adopting in the future." Adding, “As we noticed when we launched trading in pairs like USD/CNH and USD/RUB, we saw a very fast increase in other brokers adopting/launching these pairs."
The protests in Hong Kong have sparked speculative interest in the Hong Kong dollar. Protesters are demonstrating against Beijing’s influence over the city’s government and claim that the promise of preserving their civil rights is not being fulfilled by China. The Hong Kong Monetary Authority (HKMA) took emergency measures earlier this week.
AxiTrader's extension of trading products has been mirrored by many others in recent weeks in the Asian region. Last month, Australian-based Pepperstone Financial expanded its list of tradable products with the addition of WTI and Brent crude oil, while Easy-Forex Australia dished up 61 new products for its clients only last week. In both cases the moves were designed to cater for changing client preferences and tectonic shifts in the global geopolitical arena.
With market conditions remaining tough but starting to pick up after the summer lull, it seems retail FX brokers are all trying very hard to be as competitive and flexible as possible when it comes to their service offerings.
AxiCorp, one of Australia’s most prominent retail FX brokers, has unveiled 12 new currency pairs to be made available to its Australian client base from today.
In a low-key launch, the broker emailed its clients informing them of the additional trading instruments. The new pairs include USD/THB and two new metals markets -platinum and palladium. The broker is quoting spreads of between 40-150 pips on spot platinum for both standard and pro clients and 30-279 pips on spot palladium.
Phil Horner, Sales and Marketing Manager at AxiTrader, said: “We believe the timing of the launch for pairs such as USD/HKD and EUR/HKD is extremely fitting given the current Volatility in HKD due to the protests, though we’re most excited about platinum and palladium as being a unique offering which we believe we’ll see a lot of other brokers adopting in the future." Adding, “As we noticed when we launched trading in pairs like USD/CNH and USD/RUB, we saw a very fast increase in other brokers adopting/launching these pairs."
The protests in Hong Kong have sparked speculative interest in the Hong Kong dollar. Protesters are demonstrating against Beijing’s influence over the city’s government and claim that the promise of preserving their civil rights is not being fulfilled by China. The Hong Kong Monetary Authority (HKMA) took emergency measures earlier this week.
AxiTrader's extension of trading products has been mirrored by many others in recent weeks in the Asian region. Last month, Australian-based Pepperstone Financial expanded its list of tradable products with the addition of WTI and Brent crude oil, while Easy-Forex Australia dished up 61 new products for its clients only last week. In both cases the moves were designed to cater for changing client preferences and tectonic shifts in the global geopolitical arena.
With market conditions remaining tough but starting to pick up after the summer lull, it seems retail FX brokers are all trying very hard to be as competitive and flexible as possible when it comes to their service offerings.
Retail Broker Acetop UK Quadruples 2023 Revenue, Significantly Narrows Losses
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
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Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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