ATFX, an online trading broker, has opened a new office in Thailand. The broker made the announcement this week after participating in the iFinexpo, which took place in Bangkok earlier in August.
The firm launched its new office amidst some fanfare. It held a series of seminars that were attended by over 100 retail traders and intermediary brokers.
The office may be new, but it has likely been some time in the making. ATFX already has a reasonably large presence in the South East Asian country. Its Thailand-specific Facebook page, for instance, has over 20,000 followers.
Commenting on the opening of the new office, Arthiphant Thongchandr, General Manager of ATFX Thailand, said: “Thailand is one of the most vibrant countries in Southeast Asia. It is a country that offers many advantages as a trading destination and is backed by sound economic fundamentals with promising prospects.”
Separating Yourself From the Pack in a Mature FX IndustryGo to article >>
5th Office in Less Than Two Years
The new office is another step in a large-scale expansion project, focused on South East Asia, that ATFX has undertaken over the past twelve months. If one includes the Thai office, the broker has opened five offices in the region since 2017.
Two of these offices are in Malaysia, with one in Kuala Lumpur and another in Johor Bahru. Aside from Thailand, the firm also has offices in the Philippines and Taiwan.
South East Asia is fast becoming an attractive prospect for retail brokers. Light regulatory regimes combined with tech-savvy populations with growing amounts of disposable income mean brokers stand to make good money from the region.
Evidence of this came earlier in the year when Finance Magnates spoke to AvaTrade CEO, Daire Ferguson, who highlighted the potential of the region. Noting government initiatives to boost the use of online financial services, he said that the region has become an area of “increased focus” for his firm.