The Blackwell Global broker opens a branch in Cambodia

Blackwell Global, a retail broker offering access to the broad market, announced the opening of an office in the Cambodian capital, Phnom Penh. Thus, it is the ninth office in the world of this company. Thus, Blackwell Global is the first investment firm to obtain a derivatives broker license from the Cambodian Securities and Exchange Commission (SECC).

Blackwell hits the niche?

Entering the Khmer market is food for thought, because Cambodia is considered one of the poorest countries in the world, and 1 million inhabitants from the 15-million population work in the clothing industry. This means a very limited target group (although on the other hand, we also have low operating costs). So where did the idea of ​​obtaining a local license for conducting brokerage activities and the opening of a branch come from? The company explains this primarily with the desire to increase its presence in Asia and continue expansion into niche markets. A landing on the Forex market in Cambodia is another incision on the company's belt. Blackwell Global has licenses in such countries as United Kingdom, Cyprus, New Zealand and Hong Kong.

Safe like… in Cambodia?

Entrance to the Blackwell Global office in Cambodia

In recent years, the Khmer investment market has been covered by a number of new regulations, which led to increased trade security and the building up of a better reputation for the local derivatives market. The changes in the law have mainly gained consumers, obtaining more effective protection against unethical practices of brokers.

Avis Wang, managing director of Blackwell Global Cambodia said:

"The general population in Cambodia has experienced an increase in prosperity and the demand for sophisticated standards that Blackwell Global is able to deliver, both in technology and education, with access to the latest technologies and services on the B2B website, is gradually increasing, which translates into better trading conditions. for our clients. "

SECC regulates the securities market in Cambodia and is responsible for the socio-economic development of the country. The issuing of permits includes close supervision of the company and its policy in order to ensure compliance with the legal requirements. Company representatives must also pass an additional exam to get business licenses.