AxiTrader becomes first Australian FX broker to introduce USDCNH trading

AxiTrader launches 16 new currency pairs

AxiTrader, Australia’s largest domestic FX broker, has announced in a press release that it is starting to offer 16 new currency pairs available for trading. Notably the most engaging addition is trading of the Chinese Yuan against the US dollar (USDCNH). This is a first time that an Australia based brokerage is offering the pair for its customers and it is coming at a time of rising interest towards the trading opportunities that this pair offers.

According to the AxiTrader’s CEO Goran Drapac the company is pleased to offer additional trading opportunities to its customers and the offering of Chinese Yutn is just a confirmation for already existing demand from the side of the firm’s customers.

While Chinese officials are aiming to see the Yuan as a globally traded currency, recent developments in emerging markets are reminding us that the process is going to be quite lengthy. With the establishment of the Shanghai Free Trade Zone and the extension of swap facilities with Australia, the UK, EU, Russia, Singapore, etc. Yuan convertibility will be gaining traction fast.

The bulk of other new currency pairs that the company has started offering to its customers includes other emerging markets currencies like the Turkish Lira, which is easily the most volatile around since the start of the year, the Mexican Peso and South African Rand. Traders love volatility and AxiTrader delivers as demanded.

Here is a full list of all new AxiTrader currency pairs:

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