China Forex market continues to be a focus for the world’s leading Forex brokers.
Breaking news…. Forex industry leader FXCM has announced a new partnership with CITIC Newegde Futures, a key player in the China Futures market, to to open a new gateway for FXCM’s forex platform in China. The agreement includes the formation of an investor-oriented educational platform for Chinese traders.
Forex brokers around the world have been very active looking at different ways to penetrate the China forex market, and to target Chinese traders both in the mainland and without. Strategies have included opening offices in Hong Kong and Australia, and signing lucrative deals with IBs. With its larger capital base and resources, FXCM is able to take a large leap such as the CITIC partnership to directly target Chinese traders.
FXCM is a member of LeapRate’s Approved List of regulated global forex brokers.
To see the FXCM press release click here, or see the full text below.
FXCM Partners with CITIC Newedge Futures to Open New Gateway for Distinguished Forex Resources in China
July 15, 2013–NEW YORK & HONG KONG–(BUSINESS WIRE)– FXCM Inc. (NYSE:FXCM) (“FXCM”), a leading online provider of foreign exchange trading, today announced it will join forces with CITIC Newedge Futures Co., Ltd. (“CITIC Newedge Futures”, previously known as “CITIC Futures Brokerage Co., Ltd.”), in a strategic partnership to open a new gateway for first-class forex platform in China. Starting July 12, the partnership will further FXCM’s footprints into China, allowing more traders to experience the wide spectrum of resources FXCM has to offer.
FXCM has chosen CITIC Newedge Futures as a partner based on their status as a key player in the Chinese futures market, their size and their massive business coverage. With this partnership, FXCM and CITIC Newedge Futures can seek strategic synergies in various aspects of their respective businesses. The partnership will fully leverage the industry expertise and business resources of FXCM and CITIC Newedge Futures, being one of the premiere futures companies in China (founded in 1993). A subsidiary of the NYSE-listed FXCM Inc. (NYSE: FXCM), one of the largest retail forex brokers in the world, will directly cooperate with CITIC Newedge Futures.
The partnership will lead to the formation of an investor-oriented educational platform, which will be of great benefit to CITIC Newedge Futures’ clients. Once the partnership begins, their clients will be able to take advantage of FXCM’s acclaimed resources in the foreign exchange industry, including trading seminars, training and professional-grade report. FXCM’s clients will also benefit from the partnership, thanks to CITIC Newedge Futures’ leadership in the Chinese futures market and its superior regional network and infrastructure.
“We are extremely delighted about our partnership with one of the largest and most well-established futures companies in China, a significant partnership that is mutually beneficial to both FXCM and CITIC Newedge Futures,” said Siju Daniel, managing director of FXCM’s Asia office. “FXCM is dedicated to helping investors learn forex and the foreign exchange market, and takes pride in offering a suite of award-winning educational resources to them—FXCM was recognized by Investment Trends as the broker with the best Online Education Materials in 2012. We believe that FXCM’s wealth of resources will create enormous value for CITIC Newedge Futures’ clients as well as all potential investors in mainland China.”
FXCM and CITIC Newedge Futures will officially sign a strategic partnership agreement on July 19 at CITIC Newedge Futures’ Shanghai headquarters. With Chinese investors driving increasing demand for knowledge on forex trading, the partnership between FXCM and CITIC Newedge Futures will turn a new page for investors on the mainland, giving Chinese traders exposure to a high standard of investor information resources.
For more information about CITIC Newedge Futures, please visit:
https://futures.ecitic.com/aboutus_en.php?tbaboutid=15
Key Dates:
Official Partnership Date of FXCM and CITIC Newedge Futures: July 12, 2013
Agreement Signing with Media Presence: July 19, 2013
For more on the global Forex industry see the LeapRate-Dow Jones Forex Industry Report.