AxiTrader Approves Access to Chinese Yuan, 15 Other Pairs

Australian FX broker, AxiTrader has announced it will release a total of 16 new currency pairs to traders, including access to the Chinese yuan via the USD/CNH, according to a company statement.

Yuan Demand a Driving Factor

AxiTrader maintains a robust fx trading platform, now bolstered by the inclusion of the yuan – ultimately, the yuan’s importance, worth and volumes towards traders serve as an indicator for macro trends and other various economic measures in China. According to Goran Drapac, CEO at AxiTrader, “We are always excited to add additional opportunities for our clients, particularly the yuan, which will be especially popular among our growing number of clients interested in the Chinese markets.”

Formerly Rigid Regulation Regulation Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Read this Term Gives Way

Chinese officials, who invariably seek to have the currency begin to mount a challenge against the US dollar as the world’s paramount reserve currency, also should favorably meet the increased attention of the yuan by AxiTrader. The path towards legitimacy by the yuan has certainly been hard fought relative to other currency mainstays – more than five years ago several trading restrictions existed for yuan.

Australia represents one of four other countries that deals extensively with the yuan, the others including Singapore, China, Hong Kong and Germany.