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Pepperstone Sets Foot in Shanghai

After last year it relocated its headquarters to Melbourne's Central Business District to get in tune with the firm's rapid growth, the global forex broker Pepperstone is now continuing its gradual expansion into Asia with a brand new office in Shanghai. 

 
Although the company was established only three years ago, it's managed to build itself quite an enviable reputation. As an Australian brokerage, Pepperstone are monitored by ASIC, offering the full spectrum of currency pairs to a vast clientele of international and domestic traders. In accord with the regulator's rules, customers' assets are kept in segregated accounts in what are mostly well-known and respected institutions like National Australia Bank or HSBC, for example. Being well capitalized, the broker faces no trouble complying with ASIC's new requirement for a minimum net capital of $500,000. 
 
So what does this new venture into the heart of China bring to the table? Simply put, it allows Pepperstone to strengthen their connections with local clients and better integrate themselves on the Chinese market by providing trades, technical support and training sessions. Or as Daniel Poon, Managing Director of the new office, explains it: “The office will support existing Mandarin and Cantonese speaking clients whilst also further expanding our client base in China. With already a considerable number of Chinese clients trading with Pepperstone the demand for dedicated support for this client segment was well overdue.”
 
Running a brokerage in China, however, can be somewhat of a challenge. One reason is the restriction posed on individual traders, concerning the amount of Renminbi you can convert in a single month – no more than 50,000. Further, spread betting on the domestic market is punishable by law. The list of potential obstacles is, in fact, extensive. Nonetheless, other big forex brokers are also thinking about setting foot in China, as we recently told you is the case of the giant FXCM.
 
Challenging or not, Pepperstone is convinced they it has made just the right decision. Boasting an office in Shanghai's Pudong district, China's financial and commercial core, the Australian broker seems to be preparing for a long and fruitful cooperation with forex traders in the area. “We look forward to many years of service and success with our valued clients and partners in the People’s Republic of China,” says the firm's CEO, Owen Karr. His resoluteness clearly allows for no possibility of it turning otherwise.
 
 
About Pepperstone Financial
 
Pepperstone Financial Pty Ltd provides Forex trading capabilities to retail, high-net worth and institutional clients around the world. The company provides access to fair, competitive and transparent pricing across all major currency pairs by equipping traders with best-in-class trading technology and customer service. The company is headquartered in Melbourne, Australia. Here is a list of more Australian forex brokers. 
 
Pepperstone Financial Pty Ltd is a corporate authorised representative, CAR No. 389931 of CDM Pacific Pty Ltd which holds an Australian Financial Services License (AFSL 223682) issued and regulated by the Australian Securities and Investment Commission (ASIC).
TAGS: pepperstone  shanghai  new office  asic  australian broker  forex 
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