Forex remains popular among Romanians, says ETX Capital

Ishaq Siddiqi, market strategist at ETX Capital, the UK-based financial company, said forex remains the most attractive market for clients in Romania, due to its availability 24/7 and the fact that is constantly presents new opportunities.

The company, which provides CFD (contract for difference) products, has launched last October a retail trading platform in Romania. Siddiqi said the first months of activity in Romania “have confirmed the existing interest for trading activities despite some hesitation due to lack of understanding of financial products.”

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Research by ETX Capital has also shown the bad reputation some companies have. The country is grappling with flat-based firms that are loosely regulated and promise hefty returns of forex.

“Our objective is to have an organic growth, based on clients which are very well educated in the field or wiling to receive education and understand that this type of investment has long term results and needs to be based on trusting the partners. Our long history in the UK market and the first efforts in terms of education via dedicated training programs have already built a strong base of clients for future development in the first months of operation,” he told BR.

The strategist pointed out that the company is “closely observing the timeline” on Romania’s pipeline of IPOs in state-owned enterprises.

“Ahead of the IPO debut of a company, we are able to create greymarket listings which allow our clients the opportunity to trade the spread of stock before it is actually on float in the stock market,” said the strategist.

The company has launched greymarkets in Facebook and Manchester United in 2012 and those in Royal Mail and Twitter one year later.

Siddiqi said the company is currently “in advanced discussion” on expanding in other CEE countries.

Ovidiu Posirca