George Pantzis thinks competition was tougher ten years ago but offshore brokers will keep getting squeezed
One of the companies that are bucking the industry consolidation trend in Cyprus is OctaFX. The firm recently announced the acquisition of a brand new license from the CySEC and is firmly committed to expanding its business in Europe.
Finance Magnates spoke with the CEO of the company, George Pantzis, about the state of the industry and the plans of OctaFX for the coming quarters. Pantzis is very upbeat and shared with Finance Magnates that the company’s move to get licensed by the regulatory authority is in line with the firm’s transparency commitment.
“The CySEC is a great EU regulator and it has a great professional reputation across the world. Given the uncertainty of the Brexit situation, we didn’t consider the FCA as a sufficient option at this point. Yet we monitor the situation,” Pantzis elaborated.
Competition Was Tighter 10 Years Ago
With the main focus of the company in the APAC region so far, it is now looking to solidify its presence in Europe at a critical time. Pantzis thinks that the market still shows potential.
“Competition was much tighter ten years ago than it is now. Big players with reputation and regulation survive, small offshore ones go up in smoke,” the CEO of OctaFX shared.
The company is aiming to leverage transparency, fairness, client-orientation, reliability, and exceptional trading conditions to stand out. Pantzis thinks that the clients of the firm are themselves voting for the company, by choosing its services over competitors.
While the new regulatory environment under ESMA has been a challenge for the industry, the CEO of OctaFX thinks that the new regulatory framework is reasonable. “We understand where the restrictions come from, and why they were implemented. Investors do require more awareness and less exposure to the risks involved in trading,” Pantzis elaborated.
Onshore vs. Offshore
Adding to the debate on the offshore against onshore operations, Pantzis shared that the industry and businesses overall are being directed to become less involved with offshore dealings. Despite the sharp increase in the number of offshore brokers and subsidiaries in recent quarters, he thinks the market will be getting less offshore-oriented.
The policies of VISA and MasterCard are in line with the trend mentioned above, and brokers will have to be regulated/licensed in every market of their presence according to Pantzis.
“It should be realized that the licensing does not happen overnight. It's a complex procedure, and it may take several years and a lot of resources to carry through. Companies that will not be able to bear that will not survive,” the CEO of OctaFX concluded.
One of the companies that are bucking the industry consolidation trend in Cyprus is OctaFX. The firm recently announced the acquisition of a brand new license from the CySEC and is firmly committed to expanding its business in Europe.
Finance Magnates spoke with the CEO of the company, George Pantzis, about the state of the industry and the plans of OctaFX for the coming quarters. Pantzis is very upbeat and shared with Finance Magnates that the company’s move to get licensed by the regulatory authority is in line with the firm’s transparency commitment.
“The CySEC is a great EU regulator and it has a great professional reputation across the world. Given the uncertainty of the Brexit situation, we didn’t consider the FCA as a sufficient option at this point. Yet we monitor the situation,” Pantzis elaborated.
Competition Was Tighter 10 Years Ago
With the main focus of the company in the APAC region so far, it is now looking to solidify its presence in Europe at a critical time. Pantzis thinks that the market still shows potential.
“Competition was much tighter ten years ago than it is now. Big players with reputation and regulation survive, small offshore ones go up in smoke,” the CEO of OctaFX shared.
The company is aiming to leverage transparency, fairness, client-orientation, reliability, and exceptional trading conditions to stand out. Pantzis thinks that the clients of the firm are themselves voting for the company, by choosing its services over competitors.
While the new regulatory environment under ESMA has been a challenge for the industry, the CEO of OctaFX thinks that the new regulatory framework is reasonable. “We understand where the restrictions come from, and why they were implemented. Investors do require more awareness and less exposure to the risks involved in trading,” Pantzis elaborated.
Onshore vs. Offshore
Adding to the debate on the offshore against onshore operations, Pantzis shared that the industry and businesses overall are being directed to become less involved with offshore dealings. Despite the sharp increase in the number of offshore brokers and subsidiaries in recent quarters, he thinks the market will be getting less offshore-oriented.
The policies of VISA and MasterCard are in line with the trend mentioned above, and brokers will have to be regulated/licensed in every market of their presence according to Pantzis.
“It should be realized that the licensing does not happen overnight. It's a complex procedure, and it may take several years and a lot of resources to carry through. Companies that will not be able to bear that will not survive,” the CEO of OctaFX concluded.
58% of UK Investors Choose Professional Guidance over 'Finfluencers’
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.
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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!
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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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
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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
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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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
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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
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#fmas #fmas24 #fmevents #networking #finance #africa
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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.
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