AxiTrader becomes first Australian FX broker to introduce USDCNH trading


AxiTrader launches 16 new currency pairs

AxiTrader, Australia’s largest domestic FX broker, has announced in a press release that it is starting to offer 16 new currency pairs available for trading. Notably the most engaging addition is trading of the Chinese Yuan against the US dollar (USDCNH). This is a first time that an Australia based brokerage is offering the pair for its customers and it is coming at a time of rising interest towards the trading opportunities that this pair offers.

According to the AxiTrader’s CEO Goran Drapac the company is pleased to offer additional trading opportunities to its customers and the offering of Chinese Yutn is just a confirmation for already existing demand from the side of the firm’s customers.

While Chinese officials are aiming to see the Yuan as a globally traded currency, recent developments in emerging markets are reminding us that the process is going to be quite lengthy. With the establishment of the Shanghai Free Trade Zone and the extension of swap facilities with Australia, the UK, EU, Russia, Singapore, etc. Yuan convertibility will be gaining traction fast.

The bulk of other new currency pairs that the company has started offering to its customers includes other emerging markets currencies like the Turkish Lira, which is easily the most volatile around since the start of the year, the Mexican Peso and South African Rand. Traders love volatility and AxiTrader delivers as demanded.

Here is a full list of all new AxiTrader currency pairs:

Symbol

Base Currency

Counter Currency

SGDJPY

Singapore Dollar

Japanese Yen

EURZAR

Euro

South African Rand

ZARJPY

South African Rand

Japanese Yen

CADSGD

Canadian Dollar

Singapore Dollar

CHFSGD

Swiss Franc

Singapore Dollar

EURSGD

Euro

Singapore Dollar

GBPSGD

Great British Pound

Singapore Dollar

NOKJPY

Norwegian Krone

Japanese Yen

NZDCHF

New Zealand Dollar

Swiss Franc

NZDCAD

New Zealand Dollar

Canadian Dollar

EURTRY

Euro

Turkish Lira

MXNJPY

Mexican Peso

Japanese Yen

TRYJPY

Turkish Lira

Japanese Yen

USDCNH

United States Dollar

Chinese Yuan

USDMXN

United States Dollar

Mexican Peso

USDTRY

United States Dollar

Turkish Lira

 

For more on the global Forex industry see the LeapRate-Dow Jones Forex Industry Report.

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AxiTrader becomes first Australian FX broker to introduce USDCNH trading

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