Live Updates: Finance Magnates Tweets from #ifxexpo Asia 2017

Catch up on the latest industry buzz and chatter from the iFX EXPO in Hong Kong.

The 2017 iFX EXPO in Asia is officially underway at the iconic Hong Kong Convention & Exhibition Centre. The event is jointly organized by Finance Magnates and Conversion Pros, and is hosting over 3,200 registered attendees.

The event features an assortment of local brokers and service providers, as well as industry experts and professionals from all corners of the globe. The annual EXPO has proven to be one of the biggest events of the year, helping bridge the East and West – furthermore, the conference features a robust agenda that entails a variety of unique workshops, panels, and networking opportunities, which can be read in full below.

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15:15 – BTCC CEO Bobby Lee starts to get the audience excited about Bitcoin as the price hits $1111.

“Bitcoin is not a source for capital flight in China – it is trade neutral!”

15:50 – many people are lined up to ask Bitcoin-related questions including about how to use it to move money out of China…

 

14:00 – we came back from the lunch break with a bang, straight to the CEO panel, featuring CEOs of eToro, CFH, AETOS, Fullerton Markets and Gold-i. As you can see, we are ready for a colorful panel.

Addressing regulatory changes, the panellists has provided varied opinions. Christian Frahm (CFH Group) has alluded to the Japanese example and stated that the time to prepare for future stipulations is today.

Yoni Assia has alluded to the cultural difference which affects regulatory regimes. In Asia, the regulation defines what you can do, whereas in the West it prohibits activities and anything undefined is legitimate.

Singapore-headquartered Mario Singh has expressed his doubts. “We need to embrace the upcoming regulation, adopted from the Western book, but should not constrict the acting players,” he says. Otherwise, an outcome of capital outflows will be inevitable.

 

A heated, almost inevitable debate about the FXCM conundrum ensued, being an ongoing hot topic with constant developments. While Assia has lamented an “unfortunate chain of events”, Frahm and Higgins have pointed out that it is not logical that FXCM would have pulled out without a fight had it a strong case.

That being said, all participants, in one way or another FXCM’s partners, have attested to their own positive relationship with the US broker.

11:45 – Off we go with the marketing panel, with a host of experts from various industry segments. Ryan Lew from Call Levels, a local marketing in Hong Kong, has stressed the importance of nuanced KYC aspects in acquiring Chinese clients, as “neither Asia nor even China are one single bloc”.

This drills down to the city and region of traders, which should affect the quality of clients.

Interestingly, the bitcoin representative in the discussion, Gatecoin’s Head of Marketing Thomas Glucksmann, has stressed the importance of education amid growing regulatory concerns, a perspective that the FX industry can relate to.

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10:45 – the first panel of the day started with the heads of top firms who are developing and utilizing trading technology for the Asian markets

Paul G Smith: “We are now operating in markets where people don’t use laptops or desktops – its all mobile!”

Maor Lahav: “We are now seeing a big wave of binary options firms expanding to forex and the technology needs to adapt.”

 

 

 

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