Mengxi Guo on the changing landscape of forex | OctaFX
World Finance interviews Mengxi Guo, Head of Asia-Pacific Region Development Department, on overcoming changes in the forex trading sector
OctaFX provides forex brokerage services to its clients in over 100 countries around the world. Talking about the current market realities and some of the latest developments at OctaFX is Mengxi Guo, Head of the Asia Pacific Region Development Department at OctaFX.
World Finance: The European crisis has obviously had an impact on the forex industry, what challenges has it presented for you?
Mengxi Guo: Well, more liquidity and more volatility, and also prices involved both for brokers and traders. It might also cause some kind of panic attack, especially when things were not that good in Spain, Greece and Cyprus. So our challenge was, and remains, to let our customers know that things are eventually going to be all right.
“The STP broker models that we implemented make our clients risk-covered”
World Finance: And how do you plan to overcome these challenges?
Mengxi Guo: When we talk about the crisis, actually it’s not a big problem, because the STP broker models that we implemented make our clients risk-covered and also off-setting the interim bad market, so we have our clients completely backed up. And also, when we talk about risks for one it might be threatened, but for others it might be the great opportunities, and there are lots of success stories in the market.
World Finance: Opportunities you mentioned there, so tell us about the opportunity for the Asian financial market.
Mengxi Guo: Well, I can talk for ages about that, and we know that the world has become indeed global, and more and more people are interested in investment, including the forex trading, so now we are getting huge demand from the Asian market, and we expect rapidly to fulfil this market.
“It’s no longer the world of single traders”
World Finance: Tell us about some of the ways that you think the foreign exchange industry and market has changed over the last few years.
Mengxi Guo: There is a remarkable trend for networking betraying traders, and now it’s possible for them to communicate and also learn from each other, with mobile and also some stationary devices, at any time and at anywhere and also at high speed. And this really changes the whole picture because now the interaction becomes truly instant and the time of grosses has gone. So it has never been so easy to share the trading signals and also even some particular trades.
So now we are in 2013, and it’s no longer the world of single traders. It’s an immense global community, so we are actually doing our best to make sure that all the opportunities are explored and offered to our clients. And I can’t tell you how excited I am about the future of forex trading in general.
World Finance: So what do you say to those who doubt the viability of forex as an investment option?
Mengxi Guo: We need that indeed, the forex trading is quite risky, so there’s no doubt that it must be taken very seriously and responsibly. But on the other hand, we know the forex market is the most volatile market in the world, and lots of success stories speak for themselves. So we think that reasonable, responsible, and rational forex trading might be one of the best investment options that our clients ever had. So actually, I can’t hardly imagine some other investment approaches are as global or as easily accessible to our clients as forex trading.
“In general customer services are becoming better and better”
World Finance: Finally then, what are some of the latest developments at OctaFX?
Mengxi Guo: The industry is growing rapidly and now we see the customer service levels has reached its height, which is really hard to imagine five years ago. In general the customer services are becoming better and better, and also more easily accessible to our clients. So I’m really proud to work in brokerage which is at the cutting edge of these changes.
World Finance: Mengxi, thank you.
Mengxi Guo: Thank you Nick.