Offshore Regulation Will See Tightened Rules, PRCBroker’s Account Director Speaks

Performance Ronnaru Company (Seychelle), named PRC Group, holds 100% of the following subsidiaries: Performance Ronnaru Company Ltd(Cyprus), regulated by CySEC, and Performance Ronnaru Capital Ltd (Vanuatu), regulated by VFSC. PRCBroker brand is an international brand regulated in various jurisdictions.

Doris Yao, the Account Director of PRC Group, joined Fazzaco to share her insights on online exhibitions and potential trends in offshore regulation.

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Fazzaco: Hi Doris, thank you for joining Fazzaco today. Let us know more about PRCBroker and the team behind it.

Doris: Thanks, it is my pleasure to join Fazzaco.

PRCBroker is a global brokerage that offers trading services in Forex, precious metals, CFDs and other financial derivatives for individual and institutional clients.

The PRC management team consists of multi-national elites who have worked in the field of foreign exchange and finance for nearly 20 years, with rich experience and professional knowledge both for individual clients and institutional clients to help them tap the maximum trading potential.

PRCBroker has a mature Asian customer service team to provide customers throughout Asia with 24- hour multilingual service, from account opening to trading. Its Japanese, Chinese, English and Korean online consulting services has enhanced customer experience via a variety of interactive ways, which has been praised by mainstream media and many traders.

And PRCBroker has a professional IT team and exclusive technology to create the new MAM account management system Kings Mam, with easy setting, multiple functions and integration speed and reliability, which is a necessary tools for traders.

Fazzaco: Fazzaco has learned that PRCBroker has become the silver sponsor of BrokersShow. What motivated you to participate in this virtual expo?

Doris: Thanks to the invitation of BrokersShow, we are honored to be silver sponsor of the exhibition.

Actually, we also joined the BrokersShow Taiwan in April as a Silver Sponsor. Having been attracted by its lively, informative and productive features, we decide to continue to engage in.

Since the outbreak of COVID-19 in 2020, face-to-face social meetings have been greatly reduced, and offline exhibitions and seminars canceled. As a result, we use online exhibition as a channel to introduce our newly launched trading software and instruments to new and old customers, making more forex investment investors have chance to experience our safe and stable trading environment and fast deposit & withdrawal services. The online exhibition provided by BrokersShow is such a good choice.

Fazzaco: In your opinion, what are the advantages of virtual expo? Will it become a premium choice for brokerage companies to marketing in the context of COVID-19?

Doris: Besides reducing face-to-face meeting and being convenient to participation, the greater advantage I think is the big data operation and secondary dissemination of content after expo.

In routine offline exhibitions, it is often tedious and inaccurate for exhibitors to collect and count the data such as traffic flow, interaction, retention time and other information.

However, this could be achieved via the virtual expo, because Its back-end system can systematically collect multi-dimensional data such as information of potential customers who have interacted with brokers, interaction time, video viewing duration, etc.so as to quantify the effect of brand exposure and transformation and help brokers review and tracking after the expo.

In addition, the live broadcast of the exhibition can be recorded, and then distributed to mainstream video content platforms to easily achieve secondary dissemination and exposure, which solve the problems such as inconvenient attendance at offline venues and missing the content of the exhibition at that time, and the video can be reused many times with little marginal cost.

For a online exhibition, the organizer's abilities in traffic flow marketing before expo and data operation after the event play a crucial roles, and I believe BrokersShow is an expert in this.

I think online exhibition will become one of the optimal marketing choices for brokers not only in the special context of COVID-19, but even after the epidemic in the future.

Fazzaco: Holding Multiple licenses has become a routine for brokers, how about PRCBroker?

Doris: Yes, I think multi-licensing is the way to go for brokers who want to expand their client layer towards globalization.

PRCBroker brand is an international brand regulated in various jurisdictions :

Performance Ronnaru Company Ltd (Cyprus) is regulated by CySEC, with licence no. 253/14

Performance Ronnaru Capital Ltd (Vanuatu) is regulated by VFSC, with licence no. 14788

The PRCBroker brand is an international brand authorized and regulated by the PRC Group in different jurisdictions around the world.

Fazzaco: How do you see the pros and cons of operating brokerage business in offshore jurisdiction?

Doris: The pros and cons of offshore regulation are actually quite clear.

There may be some inherent views that offshore license means loose regulation and little security for clients' funds. However, one point should be taken into consideration, that is, if the broker has great reputation and holds multi-licenses, then the credibility and authority of its offshore license will be enhanced accordingly.

Fazzaco: What's the usual ratio of retail clients under offshore and mainstream (like FCA, ASIC etc) jurisdictions?

Doris: In my understanding, for most of multi-regulated forex brokers, the number of client accounts under offshore jurisdictions is usually more than those under mainstream jurisdictions.

Fazzaco: Recently, the CFD rules from the Securities Commission of The Bahamas came into effect. Will offshore regulation be the next stop following Europe and Australia?

Doris: I am also concerned about the new CFD rules, including a leverage limit of 200:1, ban on binary options trading and restrictions on marketing following the measures of European regulators. And its license application fees have jumped to one of the most expensive regions.

Tighter regulations and policies may create a better investment environment, but the dramatic increase in license fees is a dangerous move, which could help prevent some illegal brokers from applying licence to some extent, but may also result in some honest broker giving up.

With Bahamas Securities Commission has made no small change to improve its image of offshore regulation, it is worth looking forward to the effect. It will be a trend for offshore jurisdiction to tighten regulation in order to improve credibility and trustworthiness of their licenses.

Fazzaco: In your opinion, besides the regulatory framework, what upcoming trends do you see emerging in FX industry?

Doris: This topic is well worth exploring.

I believe that the products diversification is an irreversible trend in the filed. With the influence of new wave of globalization and change of investment concept, investors tend to seek diversified investment and make own portfolio more reasonable, so it is not enough to meet the demanding needs of investors with only CFDs on Forex, Gold, Silver and Oil.

At PRCBroker, we provide our clients with a wide range of instruments, including forex,  metals, energy, indices, stocks and futures, etc. to meet their diversified needs in a one-stop manner.