FX and binary options technology developer, Leverate, has announced today it is expanding its market presence in China. The trading platform provider will start offering training seminars for Chinese brokers in an effort to help increase their business.
According to the announcement, Leverate has completed the acquisition of three Chinese brokers as its clients during the past month and that level of demand is the reason for the new Chinese focus. Speaking with Forex Magnates, Remy Rosenbaum, Leverate Head of Marketing, said that the company already has over twenty Chinese brokers as its clients, including BocaFX and FXBP. As the company only began offering a binary options platform last month, most of the Chinese brokers who signed up with Leverate are still FX focused.
Leverate will hold seminars aimed at educating Chinese brokers on increasing their client base and trading volumes by capitalizing on emerging industry trends. Two seminars have been scheduled for March, one in Shanghai and another in Beijing. Each seminar will feature sessions covering Bitcoin, social trading, Forex technology trends, binary options, and their impact on the successful operation of Chinese brokerages.
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Leverate started to offer support for the digital currency in December of 2013, and as Bitcoin trading has recently become a very popular instrument for Chinese speculators, this move now seems a part of a larger play on China. Bitcoin exchanges in China have the largest volumes by far compared to the rest of the world, and the central bank of the country has tried to limit payments to them, therefore trading on a CFD with an online broker can be more accessible to the Chinese clients.
The announcement additionally stated that in order to keep pace with the rising number of inquiries from potential clients based in Asia, Leverate’s Hong Kong office has recently increased its manpower, and plans are now in place for a major marketing drive centered on Chinese brokers.
China appears to be in the sights of every player in the global FX industry for a number of years now due to its sheer market size. As the country’s growth rate keeps beating all other major regions of the world, the trend to target Chinese clients seems to only intensify. Furthermore, the Chinese government has recently pledged to intensify progress with FX reforms in 2014. In our Q4 2013 Quarterly Industry Report, Forex Magnates focused on the Shanghai Free Trade Zone that will be the center of those reforms and its impact on the Forex industry.
Mr. Rosenbaum commented on the announcement: “Since opening our Hong Kong office last year, we have seen a huge interest in our Forex and binary options solutions. In response we expanded the team in our Hong Kong office and in March we will start holding on-site education sessions in mainland China.”