FXPrimus a leading FX broker has expanded its foothold and opened the first international FX brokerage in Peru, as part of their ongoing expansion in the South American markets. As the developed markets are reaching maturity and cost of client acquisition is growing, brokers are searching new virgin markets.
FXPRIMUS currently serves clients from 155 countries across 6 continents. This investment in South America in the next five years will expand to USD6 million.
FXPRIMUS will promote, educate, provide support 24/5 and offer various Forex and Commodities services throughout Peru and other South American markets. The brokerage will also have a dedicated SMS trade alert/signal service, the first in Peru which will be managed by CNBC Market Analyst Mario Sant Singh, also the FXPRIMUS Director of Training & Education, who will be appearing in Lima to run various seminars in the near future.
Terry Thompson, President of FXPRIMUS said, “We view our expansion into South America and particularly Peru, as a big step for our company in terms of reaching out to a key emerging market.” “Peru is an untapped market, full of knowledgeable, savvy investors who have a demand for an alternative asset class such as Foreign Exchange, and we are pleased to be the first to provide this to them.”
Mario Singh said, “While Foreign Exchange trading may be a newer asset class in Peru, I feel that their experience in other financial markets, will assist them in greatly in understanding the nuances of the ‘Forex’ market. I welcome the opportunity to educate and to demonstrate to people in Peru about how to trade Forex profitably and responsibly.”
The new FXPRIMUS Peru offices will open in mid-February/March at Manuel Olgiun 215-217 (Omega Building) Office 704.
FXPrimus recently partnered with Malaysian Grand Prix team.
Peru is one of LATAM’s leading economies with strong economic growth and modest inflation. Its GDP per capita is near the $10,000 mark and thus the investor community is growing. The local bourse had upsetting volumes as the government increased taxes.
The Peruvian Sol is trading at 2.691 aginst the greenback.
(Photo: Wikimedia Commons)