ATFX has revealed exclusively to Finance Magnates that despite the current challenging global environment it will continue to expand its operations and product suite, aided by a recent boost in funds.
In particular, the foreign exchange (forex) broker has recently raised funds by increasing its share capital by £1.5 million, which the company received regulatory approval to do so on the 30th of April 2020.
Following on from this, the FX broker will be expanding its operations in Europe, which will include growing its market reach by hiring additional native speakers of European countries as well as countries it is yet to expand to.
In addition, ATFX will also be establishing a new office hub for its operations, in which funding will be put towards for initial start-up costs of a new office and recruitment in that area.
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ATFX to expand its product suite
Alongside expanding its presence in Europe, the multi-regulated broker also aims to strengthen its product suite, with products targeted at both retail and institutional investors, such as its recently-launched ATFX Connect product, which will receive funding to provide more instruments and services to institutional investors.
The broker also plans on investing in trader education, with the firm planning on dedicating more to create online events for traders, as well as education courses for clients.
Expansion plans to benefit in the long run
Commenting on the business direction, ATFX (UK) Managing Director, Wei Qiang Zhang, said in the statement provided exclusively to Finance Magnates: “Our values underpin the successes achieved by the company and therefore we see no need to change our model but to instead press ahead with our strategy.
“With overwhelming support from our shareholder and clear leadership, we’ve built a great culture that ensures confidence in our team. That confidence drives us to continue our investment and expansion plans to better serve our clients. We will deliver on this because our values are reflected in the attitudes and behaviours of our staff without whom the achievement of our vision would not be possible.
“This is an exciting time for us, despite the current economic climate, we’re confident our expansion plan will bear fruits in the long term. Putting our clients at the forefront of all decisions will help us create relationships and loyalty with them for years to come. We endeavour to be proactive in identifying and meeting the ever-changing needs of our customers and plan to continue improving our processes, services and products to cater to clients…”