EXECUTIVES of FBS Inc. sees sustained growth in the number of Filipino traders and their trading volume as they said these traders “continue to seek alternative or additional sources for financial support.”
The online forex brokerage firm saw exponential increase in terms of trading volume in the Philippines recently, putting the country in FBS’s top-five territories in terms of user activity.
According to FBS Strategic Marketing Director Ksenia Molodkina, they “have been witnessing a rising interest in trading among the users based in Southeast Asia.”
Molodkina cited as example that trading volume of traders with the Filipino Internet Protocol address had a 2.6-times increase since 2020.
She said the firm is “committed to providing our users with the most relevant educational resources and tools to enhance their trading skills.”
“By promoting financial literacy and education, FBS aims to empower every individual as they achieve their financial goals,” Molodkina added.
According to the firm, Philippine traders have been “showing growing interest in diversified investment opportunities” with “strong preference” for trading in forex and metals.
Based on its estimates, contracts for differences (CFDs) on metals that FBS offers constitute the second-most popular trading instrument in the region. Forex takes the first place, and the ratio between forex and metal CFDs is around 2:1, it added.
“We associate it with the relative accessibility and liquidity of metals as trading instruments,” a document issued by the firm read. “They are often chosen as a long-term investment to mitigate trading risks and diversify a trader’s portfolio, as metals remain comparatively stable in the context of volatility of the market.”
The FBS noted that the Covid-19 pandemic helped in making more Filipinos aware of the financial opportunities through forex trading.
“Over the past twelve months, the Philippines has made it to the top five territories in terms of user activity and trading volume,” the firm noted adding it expects this trend to continue.
According to FBS, its app is the 6th-most downloaded investment app in the Philippines with at least 110,000 downloads on Google Play. FBS added it has over 27 million clients with presence in at least 150 countries globally.
