XM.com Gains ASIC Authorization Under a Subsidiary in Its Parent Company Structure

Operating under the XM.com brand, with international locations in Cyprus and New Zealand, and headquarters in Limassol, the Cypriot-owned group of companies under the parent holding company Trading Point Holdings Limited has gained authorization from the Australian Securities & Investment Commission (ASIC) for one of its regulated Australian registered entities.

The new ASIC license was said to be for Trading Point of Financial Instruments Pty. Ltd., under license number 443760, and adds to the group's ownership of 4 licenses in total, across New Zealand, the United Kingdom, Cyprus and now an Australia regulated entity.

In the update posted on its corporate xm.com website, the company said that the license granted is a significant milestone in its global expansion strategy after the firm reached over 100 million trades, as per updated information on a different section of its website, counting since January 2013 to date.

In addition, the company published that it has paid out some $10 million in IB fees to Affiliates Affiliates Affiliates serve as an essential component of a broker’s client acquisition tactics and marketing. One of the most important functions of affiliate marketers is the sending of leads to the broker, which are directly opening an account or visiting the broker’s website. There are several ways in which brokers are compensating affiliates based on the number and type of clients they refer to the company and whether or not or how much they end up depositing.Understanding CPA or Cost Per Acquisition T Affiliates serve as an essential component of a broker’s client acquisition tactics and marketing. One of the most important functions of affiliate marketers is the sending of leads to the broker, which are directly opening an account or visiting the broker’s website. There are several ways in which brokers are compensating affiliates based on the number and type of clients they refer to the company and whether or not or how much they end up depositing.Understanding CPA or Cost Per Acquisition T Read this Term and introducing brokers, as it drives its sales efforts through partnerships, a method typical to most retail Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term brokerages for growing the number of accounts acquired, in addition to in-house online marketing and sales efforts.

The ASIC registration appears to have been submitted in June 2013 based on data on the regulator's website, and the go-ahead given by ASIC around the end of December 2013, as told to Forex Magnates' reporters by people close to the company.

Forex Magnates' reporters spoke with Chris Zacharia, Marketing Director at XM.com's Cyprus Office, in charge of corporate marketing communications, and who explained that one of the drivers for pursuing the ASIC license, in addition to being part of the company's strategy as noted in the press release, was the expectation that it would help the firm focus within Asia-Pacific, as Australia is thought to be a more familiar regulatory hub/trading partner within Asian countries, in comparison to other locations (such as in Europe,etc.).

Thus the firm is putting a high value on Asia as brokers continue to look East for growth opportunities.