The news follows after the firm added a new Hong Kong server, and the USDCNH and USDRUB pairs, with the Asia-focused entity soon to be announced as the company has experienced increased demand in Asia.
The Estonia-based Forex broker operating as Armada Markets, registered as a spot foreign exchange and metals broker by the Ministry of Economic Affairs in Estonia, has today made trading available in two new currency pairs, including USDCNH and USDRUB, for all of its clients, Forex Magnates confirms with Armada Markets’ CEO, Ingmar Mattus.
Mr. Mattus explained how the new changes were implemented on March 17th , in read-only format, then live on the 20th, as updated on the Armada Markets' website, and finally made available to all clients today, and how already the USDCNH has been actively traded a few days after launch. The news follows just two days after Forex Magnates reported about another Estonian broker, with a similar-sounding company name, Admiral Markets, not to be confused with Armada Markets, after Admiral Markets launched a web platform, with technology provided by TradeToolsFX.
In addition to the new pairs, based on the Chinese yuan and Russian ruble, both traded against the US dollar in the respective offered pairs, the company launched a new server in Hong Kong to help facilitate its growing Asian client base, as explained to us during the interview. Clients in the region will automatically go through the Hong Kong server, helping to provide them with less latency and faster access to prices.
Plans for Asia-Focused Entity Revealed, after USDCNH and USDRUB Live
Mr. Mattus also revealed upcoming news planned for Asia, “We will shortly also launch a new company in our group specifically for the Asia-Pacific region. So having a server in Hong Kong is one of the first steps to set the scene for the launch.”
In the official press release updated on its website, the company said that the demand for the new products has been primarily from Asia and Eastern Europe where it thought as one of the fastest growing brokers. Armada Markets said in the update that it’s committed to enabling its clients to capitalise on this growth, with its own monthly trading volumes exceeding 10 billion USD and its client base expanding over 135 countries.
Since both pairs include currencies that aren’t fully floated, Armada Markets noted in the update that these pairs are subject to shortened trading hours, including the USDCNH, from 04:00 until 24:00, server time (GMT+3), and for the USDRUB from 09:00 until 23:00. Also noted was how Leverage on the Chinese yuan and Russian ruble is a 1/5 of the account leverage (e.g. Leverage on the yuan and ruble is 1:100 when account leverage is 1:500.)
Polands KNF Warns, and News that Company is Close to MiFID Approval
Recently, the Polish KNF issued a warning after it thought that Armada Markets was mainly targeting Polish clients, or residents in its jurisdiction (Poland), and alerted the public how the company is not authorized by KNF for the time being.
However, this limitation of not being regulated with the Estonian FSA prevents it from offering CFDs, and thus is something that it looks to change by obtaining full MiFID authorization, which would also passport it through Europe to avoid issues such as those which arose with the KNF.
Forex Magnates asked Mr. Mattus about the development which was announced by KNF weeks ago, and he said, “We are currently working with Polish KNF to clarify the matter at hand. We are in the final stage of getting the MiFID license so I don't see any issue as we will shortly start offering CFDs on stocks and futures. Currently we provide trading in spot FX and metals only.”
Although we could not yet confirm the jurisdiction that Armada Markets chose for its EU regulatory application, the company said it would make the announcement soon, after the expected approval is granted.
The Estonia-based Forex broker operating as Armada Markets, registered as a spot foreign exchange and metals broker by the Ministry of Economic Affairs in Estonia, has today made trading available in two new currency pairs, including USDCNH and USDRUB, for all of its clients, Forex Magnates confirms with Armada Markets’ CEO, Ingmar Mattus.
Mr. Mattus explained how the new changes were implemented on March 17th , in read-only format, then live on the 20th, as updated on the Armada Markets' website, and finally made available to all clients today, and how already the USDCNH has been actively traded a few days after launch. The news follows just two days after Forex Magnates reported about another Estonian broker, with a similar-sounding company name, Admiral Markets, not to be confused with Armada Markets, after Admiral Markets launched a web platform, with technology provided by TradeToolsFX.
In addition to the new pairs, based on the Chinese yuan and Russian ruble, both traded against the US dollar in the respective offered pairs, the company launched a new server in Hong Kong to help facilitate its growing Asian client base, as explained to us during the interview. Clients in the region will automatically go through the Hong Kong server, helping to provide them with less latency and faster access to prices.
Plans for Asia-Focused Entity Revealed, after USDCNH and USDRUB Live
Mr. Mattus also revealed upcoming news planned for Asia, “We will shortly also launch a new company in our group specifically for the Asia-Pacific region. So having a server in Hong Kong is one of the first steps to set the scene for the launch.”
In the official press release updated on its website, the company said that the demand for the new products has been primarily from Asia and Eastern Europe where it thought as one of the fastest growing brokers. Armada Markets said in the update that it’s committed to enabling its clients to capitalise on this growth, with its own monthly trading volumes exceeding 10 billion USD and its client base expanding over 135 countries.
Since both pairs include currencies that aren’t fully floated, Armada Markets noted in the update that these pairs are subject to shortened trading hours, including the USDCNH, from 04:00 until 24:00, server time (GMT+3), and for the USDRUB from 09:00 until 23:00. Also noted was how Leverage on the Chinese yuan and Russian ruble is a 1/5 of the account leverage (e.g. Leverage on the yuan and ruble is 1:100 when account leverage is 1:500.)
Polands KNF Warns, and News that Company is Close to MiFID Approval
Recently, the Polish KNF issued a warning after it thought that Armada Markets was mainly targeting Polish clients, or residents in its jurisdiction (Poland), and alerted the public how the company is not authorized by KNF for the time being.
However, this limitation of not being regulated with the Estonian FSA prevents it from offering CFDs, and thus is something that it looks to change by obtaining full MiFID authorization, which would also passport it through Europe to avoid issues such as those which arose with the KNF.
Forex Magnates asked Mr. Mattus about the development which was announced by KNF weeks ago, and he said, “We are currently working with Polish KNF to clarify the matter at hand. We are in the final stage of getting the MiFID license so I don't see any issue as we will shortly start offering CFDs on stocks and futures. Currently we provide trading in spot FX and metals only.”
Although we could not yet confirm the jurisdiction that Armada Markets chose for its EU regulatory application, the company said it would make the announcement soon, after the expected approval is granted.
CFI Obtains Regulatory Approval for South African Operations
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
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!
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
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
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!
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
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
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
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
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
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/company/financemagnates/
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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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
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
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.
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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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.
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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