Retail broker Vantage FX has opened a new office in Malaysia.
A source with knowledge of the matter told Finance Magnates that the broker opened the office last month but only announced its launch over the weekend.
Malaysia is becoming an attractive jurisdiction for the retail brokerage industry.
That’s because Labuan, a small island off the coast of eastern Malaysia, offers a more lenient regulatory regime than many other countries.
Separate from mainland regulations, capital requirements are low, and executives do not have to live on the island.
Surprisingly then, it seems that Vantage FX has not set up operations there.
The firm lists its new office in the southeast Asian country as being in Kuala Lumpur, Malaysia’s capital city.
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And that new office was officially launched on Sunday.
Heading to Asia
The broker held an event at the Dorsett Hartamas Kuala Lumpur, a hotel and event space in the city, to mark the opening of the new office.
That event was held in conjunction with WikiFX – a Chinese website that gauges whether or not a broker has a regulatory license.
Aside from its offshore regulatory regime, mainland Malaysia is becoming an appealing place for foreign exchange brokers to do business.
With European regulations clamping down on the retail trading industry, firms are looking to emerging markets for new customers and lighter regulations.
Southeast Asia is particularly attractive as people in the region are tech savvy and have increasing levels of disposable income.
Over the past couple of years brokers, notably AvaTrade, have expressed interest in expanding into the region.