The annual Asian Forex Championship is back, now with total prize fund of USD 12000. Sponsored by renowned forex broker FXOpen, the championship will enthrone the winner with the title of Best Asian Trader and grant him (or her!) USD 3000.
No one can say that forex industry crowd are not innovative enough. Presumably inspired by Facebook acquisition of WhatsApp, forex broker Dukascopy releases free instant messaging service Dukascopy Connect.
Forex industry interest have met legal challenges in Vietnam, Malaysia, and Indonesia, but Australia, New Zealand, and Singapore, are prepared to welcome global forex trade expansion to the East.
Back in December 2013, People's Bank of China has ruled that financial institutions are forbidden to handle any transaction using Bitcoin. Worlwide bitcoin price tumbled for a while afterward. However, they still leave bitcoin exchanges and related service providers alone. Still, it seems that the rule poses a challenge for China-based Bitcoin exchanges and Bitcoin itself in China.
Within the last month, more and more brokers offer Chinese Yuan as instrument for forex trading, both in spot and option. The currency is not floated as it is with advanced countries currencies and has been under controlled trading by People's Bank of China (PBOC) for a long time. It has just recently emerged as a new favorite in forex industry.
Amendment of forex regulations were going to be talked in Russian lower house assembly (State Duma) on 19th March. However, a day before the hearing scheduled, it was suspended to unspecified later date. Yesterday (7/4) forexmagnates reported that the bill has reentered State Duma's calendar for a second hearing on April 23. Another tidbit has been included on the report, that is brokers based on certain offshore financial centres might not be welcomed by the new bill.
Apparently, there is another trend in forex industry apart from binary option, bitcoin boosting, and social trading. We've missed it before, but now spotted it for you. On April 5, several broker news presses reported that US institutional forex broker and liquidity provider Institutional Liquidity LLC (ILQ) have announced their decision to drop out of US forex retail scene.
The Auckland-headquartered broker has announced the introduction of 24/7 Swap-free Cryptocurrency Trading. Did you heard that right? yes, now people can trade cryptocurrency, including bitcoin, everyday of the week without swap charges. That sounds wonderful. Even after all that happened in the world of cryptocurrency, it remains a hot stuff that many people can't wait to get their hands on.
This part of the world is famous for its abundant productive age population which constructs an exciting field for retail forex brokers. However, they may face a unique market where maneuvers are needed.
