Finance Magnates examines two interesting and promising destinations of Asia – Thailand and Vietnam.
Since the first signs of market saturation in the West and growing global competition, FX/CFD brokers have been looking to conquer new, distant markets. Emerging economies have always been a natural destination for retail brokers for such an expansion. However, the less untapped a given market was, the more difficult it has been to succeed there.
One of the typical problems in emerging markets has always been a lack of proper regulation; or in some cases, far too restrictive laws. For the past ten years, many different brokers have tried to conquer China. This, however, never ended up with significant success for any of the firms trying to get a foothold in this market.
For this reason, Finance Magnates examined two interesting and promising destinations of this area – Thailand and Vietnam – to see if and how FX/CFD and crypto businesses can succeed there. As in the majority of South Asian countries, also in Thailand, Forex trading is popular among clients, and yet, the regulatory framework leaves much to be desired. The situation is even more demanding in Vietnam. One could consider Vietnam as the place with no chances of doing any FX/CFD business. Contrary to this impression, a lot of retail brokers try to approach Vietnamese customers.
According to research by Finance Magnates Intelligence, 34 percent of brokers covered in the Finance Magnates Volume Ranking are trying to approach the Thai market with a version of their website translated into Thai. From the same research, we know that 38 percent of brokers covered in the Finance Magnates Volume ranking are trying to approach the Vietnamese market with a local language version of their websites.
What retail brokers may expect in Thailand and Vietnam?
Local traders also have their specific requirements, Kuekul Srisirivilai, from Tan Trader, reveals what he thinks is the most important thing when choosing a broker in Thailand: „A broker must prove its reliability and have positive customer feedback. These are the requirements I based my choice of the company on.”
Finance Magnates asked about the opinion of one of the most known figures in the Vietnamese forex scene - Duong Nguyen Huy, the founder and CEO of TraderViet, the most popular website for traders. He described the local market in the following way: “The FX/ CFD market is a potential market in Vietnam. The population characteristics of Vietnam are a young population with higher incomes. They pay more attention to researching and looking for new, suitable investment channels for themselves. Although it has been in Vietnam for more than ten years, FX/ CFD is still not too popular here.”
Is it worth it?
From the perspective of brokers used to the European or Australian markets and their regulations, both Thailand and Vietnam must seem like slightly risky and exotic markets. At the same time, the majority of brokers, especially the smaller ones, must look for new growth opportunities outside of the already saturated EU/Australian markets.
Demographic and economy play an important role here. Both Thailand and Vietnam have a young population that is yearning for financial success. This creates a solid base for a bet on these markets.
To get the full article and the bigger-picture perspective on the Thailand and Vietnam, get our latest Quarterly Industry Report.
Since the first signs of market saturation in the West and growing global competition, FX/CFD brokers have been looking to conquer new, distant markets. Emerging economies have always been a natural destination for retail brokers for such an expansion. However, the less untapped a given market was, the more difficult it has been to succeed there.
One of the typical problems in emerging markets has always been a lack of proper regulation; or in some cases, far too restrictive laws. For the past ten years, many different brokers have tried to conquer China. This, however, never ended up with significant success for any of the firms trying to get a foothold in this market.
For this reason, Finance Magnates examined two interesting and promising destinations of this area – Thailand and Vietnam – to see if and how FX/CFD and crypto businesses can succeed there. As in the majority of South Asian countries, also in Thailand, Forex trading is popular among clients, and yet, the regulatory framework leaves much to be desired. The situation is even more demanding in Vietnam. One could consider Vietnam as the place with no chances of doing any FX/CFD business. Contrary to this impression, a lot of retail brokers try to approach Vietnamese customers.
According to research by Finance Magnates Intelligence, 34 percent of brokers covered in the Finance Magnates Volume Ranking are trying to approach the Thai market with a version of their website translated into Thai. From the same research, we know that 38 percent of brokers covered in the Finance Magnates Volume ranking are trying to approach the Vietnamese market with a local language version of their websites.
What retail brokers may expect in Thailand and Vietnam?
Local traders also have their specific requirements, Kuekul Srisirivilai, from Tan Trader, reveals what he thinks is the most important thing when choosing a broker in Thailand: „A broker must prove its reliability and have positive customer feedback. These are the requirements I based my choice of the company on.”
Finance Magnates asked about the opinion of one of the most known figures in the Vietnamese forex scene - Duong Nguyen Huy, the founder and CEO of TraderViet, the most popular website for traders. He described the local market in the following way: “The FX/ CFD market is a potential market in Vietnam. The population characteristics of Vietnam are a young population with higher incomes. They pay more attention to researching and looking for new, suitable investment channels for themselves. Although it has been in Vietnam for more than ten years, FX/ CFD is still not too popular here.”
Is it worth it?
From the perspective of brokers used to the European or Australian markets and their regulations, both Thailand and Vietnam must seem like slightly risky and exotic markets. At the same time, the majority of brokers, especially the smaller ones, must look for new growth opportunities outside of the already saturated EU/Australian markets.
Demographic and economy play an important role here. Both Thailand and Vietnam have a young population that is yearning for financial success. This creates a solid base for a bet on these markets.
To get the full article and the bigger-picture perspective on the Thailand and Vietnam, get our latest Quarterly Industry Report.
A graduate of the Warsaw School of Economics, Sylwester received an MA specializing in finance and banking. As Finance Magnates' research associate and STA certified analyst, he leaves no stone unturned. Sylwester is the previous minority partner of an NFA registered US forex broker, and since 2003, has participated in many forex projects.
AvaTrade Jumps into Futures Trading with the Launch of a New Platform
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!
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
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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!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
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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:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
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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!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
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!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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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
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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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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Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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