Broctagon FinTech Group, a leading FinTech solutions provider, was proud to be part of this year’s Shanghai International Money Fair, China’s largest finance and investment exhibition. Situated at the city’s historical landmark, the Shanghai Exhibition Centre, the 3-day event, held from Dec 1 to Dec 3 2017, spanned across a colossal exhibition area of 20,000 square meters.
Commanding an impressive turnout exceeding 85,000 traders, investors, and business owners, the Money Fair attracted numerous global leading finance companies from different sectors including banking, insurance, mutual funds, securities, futures, trust, foreign exchange, precious metals and independent finance advisory.
The event created an open platform for investors to connect with major industry players. The massive interflow of expert insights and business opportunities over the course of the three days played an important role in elevating the overall awareness and consumer demand within China’s finance and capital markets.
The Proliferation of Forex in China
Across the 185 exhibitions held at the Shanghai Money Fair, a chief proportion belonged to Forex firms (46.74 percent), with Internet Finance businesses (20.87 percent) positioned next in line. These figures correlated with attendee interest categories, where the top interest levels were garnered for Forex (57.29 percent) and Internet Finance (42.51 percent) exhibits. Based on expo survey results, there has been a steady growth in the number of forex investors in China, with up to 70.81 percent fully aware of the latest trading regulations and trends.
These impressive percentages derived from the Money Fair are highly indicative of the accelerating momentum of forex trading in China. A study by KPMG has shown that since 2013, average Asian FX trading capacities have risen by over 20 percent to a staggering $1.6 trillion.
Renminbi (RMB) trading volumes have doubled in the past 3 years, with SWIFT’s monthly RMB tracker placing it as the world’s 8th most active currency for global payments. In September 2017, China’s forex reserves increased for the 8th consecutive month to accommodate up to $3.109 trillion.
When asked about the expo, Shelly, a Broctagon representative, said: “The ascent of forex in China has been unprecedented and there’s no better time to get into the market than now.”
Despite the growing interest in cryptocurrencies around the world, China remains Asia’s dominant stronghold for forex and commodities trading. Maintaining a steadfast forex expertise on national grounds, the Broctagon booth saw noticeably larger streams of interested participants as compared to the previous years, with many visitors enquiring about their forex product offerings. Over the years of exceeding market expectations, Broctagon has greatly expanded its offerings of currency pairs to suit a vast range of trading strategies.
For new brokerages at the Money Fair, Broctagon had created opportunities to build a solid foundation by providing trusted licensing providers, reputable liquidity streams and robust trading technologies, all within a lightning-fast 20-day brokerage conceptualization to execution period. Existing brokers could also count on the brand’s wealth of FX experience and work towards expanding their businesses as well as incorporating more of their trading innovations.
It was clearly evident, as the three-day event drew to a close, that Broctagon FinTech Group still remains a dominant force in the world of forex trading.