This new blockchain verification technology basically allows potential clients to verify through blockchain whether an introducing broker (IB) is registered with and authorised by the broker. The system is based on a proprietary blockchain network, and it also enables IBs to verify the status of the referred accounts.
By implementing blockchain technologies in its operations, ATFX is able to ensure that malicious parties are unable to alter records due to the very nature of blockchain transactions. Furthermore, transparency and trust are obtained by opening the records to prospective and current clients.
According to financemagnates.com, despite the advantages it can bring to the trading sector, blockchain has generally seen slow adoption in the Forex and CFDs trading industry, as many brokers are still hesitant to adopt these technologies.
In January 2023, SmarTrade, a financial consulting firm, has partnered ATFX in order to introduce a series of activities aimed at bringing free financial education to more Filipino citizens. SmarTrade offers free learning sessions and one-on-one coaching and consulting on online trading aimed at all knowledge levels. According to mb.com.ph, these online and face-to-face events have reached more than 40,000 Filipinos across the country.
ATFX has joined the initiative by offering its platform for new investors looking to trade online on a trusted platform. SmarTrade and ATFX also collaborate in several nation-building programs aimed at helping Filipino communities. These initiatives include disaster relief programs and environmental conservation efforts.
ATFX is a fintech broker that is licensed by the Financial Services Commission (FSC) in Mauritius and registered by the Financial Services Authority (FSA) in Saint Vincent and the Grenadines. The company has previously introduced other technologies such as an automated facial recognition verification system for new client accounts, as well as an electronic signing of documents system that aimed to minimise its carbon footprint.
ATFX offers customer support in over 15 languages, and it works with more than 300 tradable financial assets, including currency pairs, commodities, energy, indices, stocks CFDs, and ETF CFDs. ATFX is regulated by the UK’s Financial Conduct Authority (FCA), and the Cyprus Securities and Exchange Commission (CySEC) in Cyprus.
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