Mengxi Guo from OctaFX discusses what trends and developments we can expect for the forex market over the coming year
Forex Report interviews Mengxi Guo from OctaFX to find out what world events will shape the forex market, whether a financial crisis in the near future is likely, and if social trading is an inevitable prospect.
Forex Report: Well Mengxi, there’s obviously a myriad of factors that affect the rise and fall of financial institutions. So what do you see to be the major world events for 2014 that will affect the forex market?
Mengxi Guo: Well, the first thing to look ahead for is strengthening of Euro as the time of unexpected and unwanted downturn in the economy turns to give way to the more outlined recovers throughout the world. The recession is over for some European countries, such as Greece, Portugal and Cyprus, and so the developed countries will sustain their positions, and if you ask me if there will be any crisis in the near future I would say it’s most unlikely.
[I]f you ask me if there will be any crisis in the near future I would say it’s most unlikely
Forex Report: Well how receptive is OctaFX to these economic factors and how do you respond to them in real time?
Mengxi Guo: As a reliable broker, we provide high quality service as the response to the change, because change can be also considered as the opportunity for traders to profit. So since the first day of establishing OctaFX, we made sure that nothing escapes our attention. The market execution remains flawlessly fast, and the requotes have been abolished, besides the spread is extremely low. Also besides that, financial transaction is the priority for us, thanks to our skilled personnel in financial department, as well as the up to date technology we use. As a result, our client database is growing, so we are inspired to create more promotions to sustain the comfort of the trading experience of our customers, and the overall positive image of OctaFX.
Forex Report: Now you pride yourself on being very customer based, what does this entail?
Mengxi Guo: We prefer our customers to perceive us as a partner, as a personal assistant, and we put a great effort into building international customer support team. Besides that, we create a range of promotions to keep our customers entertained and motivated. The most anticipated development of the year was the finish line of the real contest, King of the Road. Lately we have already rewarded our customers with the Apple devices, and the main prize was the Porsche Panamera. We have developed our Facebook community and are constantly working on a built-in social platform to allow our clients to share their every thought and strategy.
Forex Report: Well looking to the future now, and what do you see to be the manor trends or developments for the forex market?
Whether bitcoin will revolutionise the world of finance remains to be seen
Mengxi Guo: Well many argue that the bitcoin is the future of currency, and now we are on the verge of revolution, but the crucial point is whether the government will embrace the trend and adapt the regulation, or it will fight against it.
Whether bitcoin will revolutionise the world of finance remains to be seen, and personally we consider it as a short term investment, and the globalisation process brings the social trading, the point of views expressed followed by the immediate feedback, not only the positive and negative opinions on brokers take place, but at some online workshops it’s possible to share the trading strategies.
Nowadays, many brokers tend to provide more and more to Copytrade, and it becomes brokers’ responsibility to provide not only the social trading solutions, but also sufficient and reliable traders for investors to follow. It’s a great challenge, and for those who succeed in this challenge will lead the industry and we’re prepared for this.
Forex Report: Well finally, OctaFX is growing from strength to strength, so what do you have in the pipeline for the future?
Mengxi Guo: Social trading is an inevitable future, and all we want to do is create an environment which customers will not abandon. The environment is so integral, that includes all the essential information, such as the real time quote, the commentaries, and the tools for sharing the trading strategies, and besides the environment allows traders not only to copy the trade, but also they can create a decent portfolio, and in the coming year we will present our customers with a vanguard platform, including all the latest features, and user friendly design.
Forex Report: Mengxi, thank you.
Mengxi Guo: Thank you.