The largest retail FX broker in the world by trading volume, GMO CLICK, has announced today its plan to establish a new subsidiary company in Hong Kong offering margin trading on precious metals.
GMO CLICK Group, based in Japan, already has a local subsidiary in Hong Kong called GMO CLICK HONG KONG LIMITED, which was established in June, 2011 and started offering retail FX services in August, 2012 as part of the company’s overseas expansion plan to other locations in Asia.
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The CEO of GMO Click Holdings, Inc., Hideyuki Takashima, is quoted in the announcement as saying that launching the new firm for margin trading on gold and silver comes in response to client needs in Hong Kong where bullion trading is very active.
Speculation on the price of precious metals, especially gold, is much more popular in Asian markets such as India and China than in the West. This is leading to some brokers in Asia opening separate bullion trading subsidiaries focused on, and branded to attract gold traders.
GMO CLICK Bullion Limited is scheduled to start offering financial services to traders in Hong Kong at the end of December, 2013.