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Forex multi-account manager Z-X-N
Accepts global forex account operation, investment, and trading
Assists family office investment and autonomous management

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In the Japanese financial market system, the popularity of foreign exchange multi-account management services (including PAMM, MAM and copy trading) is at a low level.

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In-depth analysis shows that this phenomenon is mainly due to Japan's strict regulatory framework, investors' unique preference system and unique cultural background. The specific causes are as follows:
1. FSA's strict regulatory framework.
The Financial Services Agency (FSA) of Japan has established and implemented a strict regulatory mechanism in the field of foreign exchange trading and investment services. From the perspective of regulatory classification, PAMM/MAM services are clearly defined as discretionary investment management. Based on this, it is necessary to obtain advanced licenses to carry out such services. Most foreign brokers lack such licenses because they fail to meet the relevant requirements in terms of compliance, operating qualifications and other aspects. This directly leads to many international foreign exchange brokers that provide PAMM/MAM services being prohibited from operating in Japan, which restricts the promotion of such services in the Japanese market from the supply side.
2. Strict restrictions on leverage ratios.
Based on the principles of financial risk control and investor protection, the FSA strictly limits the leverage limit for retail forex traders to 25:1. Compared with the 100:1 or higher leverage ratio commonly used in PAMM/MAM accounts in offshore jurisdictions, the leverage level in the Japanese market is significantly lower. This leverage restriction has greatly changed the risk-return structure of investors in forex trading, making the PAMM/MAM service model that relies on high leverage to obtain high returns unattractive in the Japanese market, inhibiting its popularity.
3. Local broker preference and market access barriers.
In terms of broker selection, Japanese traders prefer local domestic brokers based on multiple factors such as familiarity with the local market, language communication convenience, cultural identity and long-established trust relationships. However, local brokers usually do not provide PAMM/MAM services due to their own business strategies, compliance costs and market positioning. At the same time, foreign forex brokers face multiple market access barriers such as language barriers, cultural differences and complex legal restrictions when entering the Japanese market. These factors work together from both the supply and demand sides to limit the development space of PAMM/MAM services in the Japanese market.
4. The influence of risk-averse investment culture.
In the long-term practice of the financial market, Japanese investors have formed an investment culture with risk aversion as the core. In terms of investment product selection, they generally prefer low-risk investment products with relatively stable returns and low market risks, such as savings accounts, government bonds and stocks. Foreign exchange investment is contrary to the risk preference of Japanese investors because of its high market volatility and speculation. In addition, many Japanese traders adhere to the investment philosophy of independent decision-making and prefer to trade independently rather than entrusting funds to account managers for management, which further weakens the demand basis of PAMM/MAM services in the Japanese market.
5. The rise of automation and social trading.
With the development of financial technology, in the Japanese financial market, automated trading (such as EA/algorithmic trading) and social trading have gradually been favored by Japanese traders due to their efficiency, convenience and social interactivity. Compared with traditional PAMM/MAM services, automated trading can achieve rapid execution of trading strategies and precise risk control, while social trading meets the needs of information sharing and communication between traders. In the field of multi-account management services, copy trading platforms, as an emerging service model, have become a more popular alternative for Japanese traders with their advantages such as simple operation and strong reproducibility, further squeezing the market share of PAMM/MAM services.
6. Strict capital controls and tax regulations.
In Japan, foreign exchange investment profits are subject to tax at a rate of 20.315%. In addition, when investors hold foreign managed accounts, they may face additional reporting requirements based on Japan's capital control policies and tax regulations. These capital control measures and complex reporting rules increase the cost and compliance risks of investors using offshore foreign exchange account management services, which has substantially hindered Japanese traders from participating in offshore foreign exchange account management services and restricted the cross-border expansion of PAMM/MAM services in the Japanese market.

In Hong Kong's financial ecosystem, the popularity of foreign exchange multi-account management services (PAMM, MAM and copy trading) is at a low level.

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This phenomenon is mainly attributed to the strict regulatory framework, investor preferences and the dominance of traditional financial markets. The following is a specific analysis of the causes:
1. SFC's strict regulatory system.
Regulatory body functions: The Securities and Futures Commission (SFC) of Hong Kong has strict regulatory responsibilities in the field of foreign exchange transactions and related financial services. It aims to maintain the stability and fairness of the financial market and ensure that the legitimate rights and interests of market participants are fully protected by formulating comprehensive and detailed regulatory rules and implementing efficient regulatory measures.
License access mechanism: From the perspective of regulatory classification, PAMM/MAM services are clearly classified as asset management business. According to the regulatory requirements of the SFC, institutions or individuals that carry out such services must obtain a Category 9 (asset management) license in accordance with the law before they can legally carry out related operations. This strict licensing access mechanism has effectively raised the industry threshold and ensured the compliance and standardization of the market.
Access restrictions for foreign brokers: Many foreign forex brokers that provide PAMM/MAM services are unable to provide services to local investors in Hong Kong due to failure to meet the SFC's licensing conditions. This not only limits the supply of such services in the Hong Kong market, but also makes local investors less concerned about and less involved in them, greatly weakening the attractiveness and influence of such services in the local market.
2. Stock and real estate investment preferences.
Investment preference tendency: In the process of asset allocation, Hong Kong investors show a clear preference for stock trading, ETFs and real estate, while their interest in foreign exchange investment is relatively low. The Hong Kong Stock Exchange (HKEX) has become one of the most attractive securities trading markets in the world with its high market activity, perfect trading mechanism and rich investment products, which undoubtedly further strengthens the position of stock investment in the hearts of Hong Kong investors.
Wealth management market structure: In the Hong Kong financial market, wealth management and hedge funds occupy a dominant position with their professional investment management capabilities, diversified investment strategies and extensive market resources. This market structure has led to a relatively small market demand for foreign exchange multi-account services, limiting its development space in the Hong Kong market.
3. Capital preservation and risk aversion orientation.
Risk preference characteristics: Hong Kong investors generally show a risk-averse investment preference. In the investment decision-making process, they pay more attention to the security and stability of assets and tend to choose long-term and stable investment methods rather than high-risk speculative transactions. This risk preference makes high-net-worth individuals more inclined to choose the discretionary portfolio management services provided by private banks in terms of wealth management, and have less interest in foreign exchange PAMM accounts.
4. Strong local currency and global market access advantages.
Currency exchange rate stability mechanism: The linked exchange rate system of the Hong Kong dollar (HKD) and the US dollar provides a stable exchange rate environment for the Hong Kong financial market and effectively reduces the risk of foreign exchange fluctuations. This means that Hong Kong investors do not need to rely too much on foreign exchange transactions to avoid exchange rate risks when making cross-border investments and asset allocations, thereby reducing the demand for foreign exchange transactions.
Convenience of global market access: As an international financial center, Hong Kong has a sound financial infrastructure and an open market environment, and investors can easily enter the global financial market. This wide range of market access channels allows investors to diversify their asset allocations around the world, thereby reducing the relative importance of foreign exchange trading in their portfolios.
5. Action against unlicensed foreign exchange brokers.
Regulatory enforcement: The Hong Kong Securities Regulatory Commission has always maintained strict supervision of the financial market and actively carried out monitoring and crackdown actions on unlicensed foreign exchange brokers. By establishing an efficient monitoring mechanism, strengthening law enforcement and cooperating with other regulatory agencies, the Hong Kong Securities Regulatory Commission has effectively curbed the illegal operations of unlicensed foreign exchange brokers in the Hong Kong market and maintained market order and investor interests.
Regulatory dilemma of overseas brokers: Many foreign exchange brokers that provide PAMM/MAM accounts operate overseas. Due to regulatory differences, information asymmetry and difficulties in cross-border regulatory coordination, these brokers find it difficult to obtain regulatory approval in Hong Kong. This not only limits the supply of such services in the Hong Kong market, but also increases the risk and uncertainty of investors participating in such services.
6. The rise of alternative trading methods.
Changes in trading preferences: With the rapid development of financial technology, Hong Kong traders have shown a trend of diversification in trading methods, preferring autonomous trading, algorithmic trading and derivatives (such as CFDs, options) trading. These trading methods meet the needs of different investors with their efficiency, flexibility and rich investment strategies, which squeezes the market share of PAMM/MAM services.
The rise of cryptocurrency trading: In recent years, cryptocurrency trading has gradually emerged in the Hong Kong market. Compared with traditional foreign exchange multi-account services, cryptocurrency trading has attracted the attention of a large number of investors with its decentralization, high liquidity and potential high returns. Although the cryptocurrency market has high risks and uncertainties, its rapid development in the Hong Kong market has further diverted the potential customer base of foreign exchange multi-account services.

The number of American citizens participating in foreign exchange investment transactions is relatively small. In fact, the United States did not use foreign exchange to enhance the power of the US dollar and missed the opportunity.

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Compared to foreign exchange traders in other countries, the number of US citizens involved in foreign exchange trading is relatively small. This phenomenon can be mainly attributed to the following factors:
1. Strict regulatory environment.
Regulators: The United States has established the world's most stringent foreign exchange trading regulatory system, with the Commodity Futures Trading Commission (CFTC) and the National Futures Association (NFA) responsible for implementing regulatory responsibilities.
High capital requirements: The high capital requirements set for brokers undoubtedly increase the difficulty for new brokers to enter the market and to some extent limit the adequacy of market competition.
Leverage restrictions: The leverage limit set by the United States for major currency pairs is 1:50, and the leverage limit for minor currency pairs is 1:20. In other regions such as Europe and Asia, traders can use leverage up to 1:500. The lower leverage limit reduces the potential profit space of the transaction, thereby weakening the attractiveness of foreign exchange trading to US investors.
Hedging restrictions: The United States stipulates that traders cannot open long and short positions on the same currency pair at the same time. This restriction significantly reduces the flexibility of trading strategies.
FIFO rule: requires traders to close the oldest open position before opening a new one, which undoubtedly increases the complexity of transaction management.
2. Limited broker selection.
International broker restrictions: Due to strict regulatory requirements, many international foreign exchange brokers refuse to accept US clients, which directly leads to a significant reduction in the choice of US traders.
Dominance by local brokers: US traders are mostly limited to a few local foreign exchange brokers, which have certain limitations in terms of service types and product diversity.
3. Stock market preference.
Developed stock market: The United States has the most developed stock market in the world, and many traders prefer to participate in stock, ETF or option trading rather than foreign exchange trading. Markets such as the New York Stock Exchange (NYSE) and NASDAQ are well known to US investors and have relatively low transaction costs.
Diversity of investment tools: The stock market provides a rich variety of investment tools and strategies, which is more attractive to investors.
4. Higher foreign exchange transaction taxes.
Complex tax rules: Forex traders in the United States are subject to specific tax rules, such as Sections 988 and 1256 of the IRS tax code. These rules are complex and increase the tax burden of trading, which may discourage some potential traders.
V. Concerns about fraud and misunderstandings.
Fraud history: Due to the bad phenomena such as fraudulent signal providers, pyramid schemes and Ponzi schemes in the forex market, many Americans associate forex trading with fraudulent behavior. This bad reputation makes many potential investors cautious about participating in forex trading.
Lack of education: Forex-related knowledge is relatively scarce in the mainstream education system, causing many people to believe that forex trading is too risky or illegal, further reducing the appeal of forex trading.
Six. Lack of institutional attention.
Institutional dominance: Despite the large size of the forex market, most transactions are dominated by banks, hedge funds and large institutions. Unlike stocks and cryptocurrencies, retail forex trading has received less attention in the mainstream financial media in the United States and lacks sufficient exposure and promotion.
Low market attention: The complexity and high-risk nature of the foreign exchange market make it less popular among retail investors, further limiting its popularity.

Singapore, the world's third most popular foreign exchange investment and trading destination in 2022.

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As a popular area for foreign exchange trading, Singapore occupies an important hub position in the global foreign exchange market. In 2022, Singapore's share of global foreign exchange trading volume reached 9%, second only to the United Kingdom and the United States, ranking third in the world. The Monetary Authority of Singapore (MAS) is responsible for regulating foreign exchange transactions. By building a sound regulatory system, it has created a safe and stable trading environment for traders. This rigorous and powerful regulatory framework has not only strongly promoted the steady growth of the foreign exchange market, but also significantly increased the acceptance and participation enthusiasm of foreign exchange transactions among local residents.
However, recent market trends show that the retail trading landscape is undergoing profound changes. Active the number of foreign exchange and CFD traders has continued to decline and has gradually approached the pre-epidemic level. Despite this, CFD trading still attracts a large number of investors' attention and participation due to its unique trading characteristics. Currently, about 73,000 potential investors are still active in the CFD trading market.
In addition, the report released by the Singapore Exchange (SGX) shows that driven by the continued expansion of foreign exchange futures trading, the market activity of its currency and commodity sectors has increased significantly. In the past few years, the trading volume of currency and commodity derivatives has doubled, which fully reflects the market players' continued attention and strong interest in the field of foreign exchange trading.
Overall, although the retail foreign exchange trading sector has shown a certain degree of shrinkage, foreign exchange trading, as one of the important pillars of Singapore's financial market, still maintains a high level of activity and market influence, and occupies an indispensable position in Singapore's financial system.

Analysis report on the foreign exchange trading market and financial landscape in Taiwan, China.

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The foreign exchange market in Taiwan is active, attracting many financial institutions and individual investors. In December 2023, the total net trading volume of the Taipei foreign exchange market reached US$783.2 billion, with an average daily trading volume of US$37.3 billion. This data fully demonstrates that the foreign exchange market in Taiwan has a high trading activity and market depth.
At the same time, Taiwan has attracted several internationally renowned foreign exchange brokers to conduct business here, providing diversified services to local traders. These brokers are not only equipped with advanced trading platforms, but also provide traders with rich educational resources and professional customer service, which has effectively promoted the development of the foreign exchange market.
In addition to the active performance of the foreign exchange market, Taiwan also occupies an important position in the global bond market. Taiwan has made a large investment in US bonds, with a total of US$1.7 trillion in foreign exchange reserves and overseas fixed-income securities, which even exceeds the economic size of Taiwan, indicating that Taiwan has an influence and investment capacity in the global financial market that cannot be ignored.
Overall, foreign exchange trading is an important and active part of Taiwan's financial landscape. It not only has wide support from local and international brokers, but also plays an important role in the economic development and financial stability of Taiwan, China, with its diversified investment strategies and active participation in the global market.

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13711580480@139.com

+86 137 1158 0480

+86 137 1158 0480

+86 137 1158 0480

z.x.n@139.com

Mr. Z-X-N

China · Guangzhou

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