New Taipei, Taiwan – In 2020, private brokerage Axion Trade’s announced its move to serve the retail markets. Tsai Wang, Axion Trade’s CEO explains why.
Question: Axion Trade has been serving private corporations such as fund management and financial technology companies since 2015, so why the shift?
Tsai Wang: That’s a great question – and I get that a lot. Axion Trade services companies where their main activities are that of investment management.
In recent years, the financial industry has seen an explosive growth in use of technology in financial markets. However, such proprietary technologies are largely limited to high-net-worth and private investors.
This led us to explore how Axion Trade can make such technologies available to the retail market to leverage on, and benefit from the technological and financial expertise provided by these companies. Additionally, the move will also allow Axion Trade to grow additional business lines to expand its foothold across Asia.
Question: Why did Axion Trade decide to remain in a less regulated environment, such as the St. Vincent and the Grenadines?
Tsai Wang: It is important to note that the financial realm moves at a very fast pace. While regulation has its purposes, I do find that regulations tend to be – to a certain extent – restrictive and reactionary, which may negatively impact our ability to scale and maintain a competitive edge.
However, by strategically placing the firm in a jurisdiction that is only slightly more relaxed enables our business to remain agile in the face of ever-changing market conditions, allowing us to remain competitive and continuously innovate to serve our clients better.
Question: Where do you see Axion Trade in the next few years?
Tsai Wang: Axion Trade’s blueprint in the years ahead largely involves growing its foothold across Asia.
Asia, alongside its emerging markets present vast opportunities for the business. Despite the recent impact on the global economy due to the COVID-19 pandemic, we can certainly expect to see the growth of Asia getting back on track as markets recover, which would in turn bring about higher disposable income.
The rise in disposable income would mean two things.
First, the growth of fund management companies to serve the growing number of wealthy individuals seeking wealth management solutions.
Second, the growth of retail clients seeking innovative products and solutions to park and grow their money in – like how we are enabling retail clients to tap onto and benefit from expertise of companies with the know-how.
Axion Trade is dedicated to innovating and improving its product offerings to cater to the growing needs of both retail and corporate clients.
Question: What can Axion Trade’s clients, both corporate and retail, expect from the company?
Tsai Wang: Axion Trade understands that the clients’ needs are always changing for the better, and we aim to cater to these needs as best possible. Moving forward, the company is working towards leveraging on technological advancements and big data to continuously innovate on revolutionary ideas and tools that will improve the overall experience of clients.
Additionally, we understand that fund safety is of utmost importance to our clients. While Axion Trade already has a fund safety mechanism in place via segregated bank accounts to differentiate client deposits from company funds, we intend to take it a notch higher. I am pleased to share that we are currently in talks with various insurance brokers to take up a Professional Indemnity & Crime Insurance to protect clients’ funds from instances of fraudulent mismanagement. The best part of it is that all our clients will be able to enjoy the added fund safety features at no additional cost. The insurance policy is set to be taken up late 2020, so do look out for our announcement.