Broctagon Group, a leading fintech business development, liquidity and technology provider, has unveiled a new strategic shift into Southeast Asia’s brokerage market. The new focus in the region will see the group extending rich expertise in turnkey solutions, following the region’s bullish economic growth and favorable conditions for brokerages.
Earlier this month, Broctagon Group launched a new Bitcoin offering in Southeast Asia, adding the digitcal currency to their existing range of FX products such as Forex Pairs, Forex Derivatives, Commodities, Precious Metals, and Multi-Asset Derivatives.
Southeast Asia in Focus
The region’s strong performance is accredited to strengthened world trade and robust domestic demand. Consequently, this has steadily transformed Southeast Asia into one of most important emerging markets and has underpinned Asia’s growth in the Q1 2017. The region has seen a healthy expansion of 4.7 percent year-on-year in Q1, with client demand on the uptick.
This performance has largely been driven by accelerating growth in Malaysia and Thailand, with some easing momentum in Singapore and Philippines. Some of the fastest expanding economies like the Philippines and Vietnam have also reported growth rates of more than 6 percent. The World Economic Forum predicts that by 2020, Southeast Asia will have the world’s fifth largest economy.
Over the last decade, China’s booming economy has been the location of choice for brokerages – Broctagon’s strong expertise in market knowledge and turnkey solutions has proven fundamental in the rapid development of many successful brokerage firms in the country.
With the rise of strong competition and market density, brokers have begun looking towards Southeast Asia. This trend is unlikely to stop anytime soon as one of the key advantages of conducting brokerage activities in Southeast Asia includes lower marketing expenditure as a result of lower Cost per Click (CPC) and Cost per Acquisition (CPA) in comparison to Europe, Africa or South America.
Broctagon’s move into the region marks an opportunity for Forex brokers planning to enter the region and expand their business. Brokers can also tap onto Broctagon’s wide reach within China to attract additional traders and generate more substantial trading volumes, and gain access to top tier liquidity providers, turnkey solutions and a wide range of products including cryptocurrencies like Ethereum, Litecoin, and Bitcoin, the last of which has been added to Broctagon’s latest product offerings.