ACCM Establishes Physical Presence in Vietnam with Local Support Hubs
ACCM, a contracts-for-difference (CFD) broker, has launched two local support hubs in Vietnam’s major cities, strengthening its footprint in one of its fastest-growing markets.
These hubs will serve as operational centres to support local introducing brokers (IBs) and partners more effectively. The move comes as Vietnam continues to generate the highest traffic to ACCM’s website.
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The expansion was marked by a series of grand opening events last week, attended by the broker’s regional partners.
Trading Demand Is At Its Peak
The expansion came at a time when the broker was experiencing a massive increase in trading volume.
FinanceMagnates.com earlier reported that January trading volume on the platform reached $285 billion, marking a record after an almost 33.5 per cent month-on-month increase and a 102.8 per cent year-on-year rise. The rally was supported by gold trading demand, which accounted for over 67 per cent of its total January volume, while silver trading made up 4.26 per cent.
Although the broker did not reveal the March numbers, they are expected to be higher due to increased trading demand across the industry following market volatility induced by the Iran war.
Expansion Continues
ACCM holds regulatory licences in Australia and South Africa, but most of its business is conducted under offshore licences in Seychelles and Vanuatu. The broker, meanwhile, is planning to expand in the Middle East and North Africa (MENA) region and Europe within the next two years.
Notably, several CFD brokers have established a presence in the UAE, particularly through an IB-style licence from the country’s mainland regulator. Only a few big players have obtained the full brokerage licence there.
ACCM, meanwhile, appears to be stepping up its marketing game with a sports sponsorship deal. Interestingly, while most brokers opt for football or Formula One sponsorships, it became the first to put its brand on the assets of a MotoGP team, the top two-wheeler racing event.
This article was written by Arnab Shome at www.financemagnates.com.
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