Chinese tech giant, Tencent QQ has partnered with the leading financial data terminal in the Asian market to run a Binary Options trading contest which could be its first step to entering the FX field.
Forex Magnates has learned that one of the biggest players on the Chinese internet market, Tencent, has been running a binary options demo contest in what can be the first step toward launching its own FX brokerage brand. As China is the biggest growth market for brokers, such a move can have immense impact on the industry.
Tencent is a massive holding company with subsidiaries that offer social media, entertainment, Internet and mobile phone services, and operate online advertising services and e-Commerce transactions services (payments) in China. The group is best known for its QQ instant messenger that has about 800 million active accounts, its web portal QQ.com is one of the largest in China and its mobile chat app, WeChat, has over 640 million users. Tencent is traded on the Hong Kong Stock Exchange with a valuation of over HKD 1.1 trillion (about 150.8 billion USD) and has the ability to quickly dominate any market in China.
Tencent QQ has recently launched an online simulated trading competition and FX binary options were included, as was noticed by Forex Magnates. The QQ Binary Options competition lasted from April 8 to June, with the stated goal of making Chinese people learn more about trading the financial market. While they claim their only purpose is to educate the Chinese market by offering the contest, it is more than likely to be a first step before they can offer real money binary options trading. A competition with live market data allows Tencent to attract future sales leads while testing the technology.
Tencent is heavily promoting the online competition on its QQ Finance portal (equivalent to Yahoo! Finance). The website that actually hosts the training materials and demo Trading Platform is called Cloud-Trader and uses the domain top500.cn where users can only login with a QQ login ID. From the website it appears QQ is working on this project with Da Zhi Hui, which rightfully claims to be the leading multi-asset platform in China, providing stocks, currencies and futures information including analysis and real-time data.
Da Zhi Hui can be understood as being China’s answer to Bloomberg, after in 2013 it had to change certain “distinctive aspects” of its platform following a lawsuit in which the American firm accused it of being copied from its Bloomberg terminal. In the online retail stocks trading industry in China, Da Zhi Hui reigns supreme with 85% share of the market, according to its official numbers.
A large and increasing number of FX and binary options brokers have been targeting the Chinese market in recent years. The industry is having an impact on the way financial trading is being done in the giant country, so much so that the official state television channel, CCTV decided to recently run a story warning viewers about the dangers of margin FX trading. If a giant such as Tencent is stepping into the field it will be impossible to ignore. It might lead to government attempts to squeeze out global brokers to protect the local player as they have done in other industries, or it might increase awareness of binary options on a level from which all brokers will benefit.
Forex Magnates has learned that one of the biggest players on the Chinese internet market, Tencent, has been running a binary options demo contest in what can be the first step toward launching its own FX brokerage brand. As China is the biggest growth market for brokers, such a move can have immense impact on the industry.
Tencent is a massive holding company with subsidiaries that offer social media, entertainment, Internet and mobile phone services, and operate online advertising services and e-Commerce transactions services (payments) in China. The group is best known for its QQ instant messenger that has about 800 million active accounts, its web portal QQ.com is one of the largest in China and its mobile chat app, WeChat, has over 640 million users. Tencent is traded on the Hong Kong Stock Exchange with a valuation of over HKD 1.1 trillion (about 150.8 billion USD) and has the ability to quickly dominate any market in China.
Tencent QQ has recently launched an online simulated trading competition and FX binary options were included, as was noticed by Forex Magnates. The QQ Binary Options competition lasted from April 8 to June, with the stated goal of making Chinese people learn more about trading the financial market. While they claim their only purpose is to educate the Chinese market by offering the contest, it is more than likely to be a first step before they can offer real money binary options trading. A competition with live market data allows Tencent to attract future sales leads while testing the technology.
Tencent is heavily promoting the online competition on its QQ Finance portal (equivalent to Yahoo! Finance). The website that actually hosts the training materials and demo Trading Platform is called Cloud-Trader and uses the domain top500.cn where users can only login with a QQ login ID. From the website it appears QQ is working on this project with Da Zhi Hui, which rightfully claims to be the leading multi-asset platform in China, providing stocks, currencies and futures information including analysis and real-time data.
Da Zhi Hui can be understood as being China’s answer to Bloomberg, after in 2013 it had to change certain “distinctive aspects” of its platform following a lawsuit in which the American firm accused it of being copied from its Bloomberg terminal. In the online retail stocks trading industry in China, Da Zhi Hui reigns supreme with 85% share of the market, according to its official numbers.
A large and increasing number of FX and binary options brokers have been targeting the Chinese market in recent years. The industry is having an impact on the way financial trading is being done in the giant country, so much so that the official state television channel, CCTV decided to recently run a story warning viewers about the dangers of margin FX trading. If a giant such as Tencent is stepping into the field it will be impossible to ignore. It might lead to government attempts to squeeze out global brokers to protect the local player as they have done in other industries, or it might increase awareness of binary options on a level from which all brokers will benefit.
52% Acknowledge Parental Influence: Financial Legacies in Hong Kong
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.
Don't miss out on this 5-second invite packed with energy and urgency!
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#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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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
📣 Stay updated with the latest in finance and trading!
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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
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
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
📣 Stay updated with the latest in finance and trading!
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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
📣 Stay updated with the latest in finance and trading!
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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
Register now to secure your spot: https://bit.ly/3JbUpCK
#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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