Magic Compass Debuts at Dubai Forex Traders Summit with the Latest Financial Technology Solutions

The Hong Kong subsidiary of Magic Compass Group, is a Hong Kong Securities and Futures Commission (SFC) licensed corporation and a member of Hong Kong Exchanges and Clearing Limited (HKEX). Moreover, Magic Compass Group also holds multiple licenses covering securities, futures, forex, digital currency exchange and wallet services, and TCSP across multiple regions. Its business capabilities span across Europe, Asia-Pacific, Southeast Asia, Africa, with offices in Singapore, Hong Kong, Cyprus, Mauritius, Lithuania and Seychelles, boasting a global financial licensing system.

Singapore, 21st May 2024 – On May 19th to May 20th local time, Magic Compass Group (hereinafter referred to as Magic Compass) was invited to showcase at the 2024 Dubai Forex Traders Summit. The event took place at the main exhibition area of the Forex Traders Summit, where the summit’s main forum also invited Magic Compass to meet with global partners and users, aiming to discuss and explore new trends and opportunities in the financial industry through collaboration with industry partners.

Integrating comprehensive user scenarios with global licenses

It is reported that Magic Compass Group’s subsidiary currently holds licenses including Hong Kong SFC licenses 1,2,3,4,5 and 9, Hong Kong TCSP license, full licenses in Cyprus and Seychelles, Lithuania’s digital currency exchange and wallet services license, Mauritius investment dealer license and more. “We aim to create a safe and integrated product experience for users, in the hope that our users don’t have to operate multiple accounts when they want to use different products. Our global licensing system can provide users with an all-in-one financial service platform,” shared by Alex Zhou, Head of Marketing of Magic Compass Group, during the main forum of the event.

At the exhibition, Magic Compass staff showcased their trading interface, real-time quote, user flows, and other value-added services to users. According to their staff, Magic Compass can provide services for both retail and institutional clients. For retail clients, users can choose between standard accounts and ECN accounts; As for institutional clients, services such as white labels and CRM solutions are also available. Currently, in addition to offering over 200 top trading instruments, Magic Compass can also provide customized services based on user needs.

Developing proprietary products to improve the experience of services

Despite the vast market opportunities, industry challenges such as trading costs and risk control compliance persist. In response to the above issues, Alex Zhou stated, “Differing from traditional trading service providers, Magic Compass invests heavily in R&D to develop its own product capabilities matrix, including trading systems, CRM systems, risk control systems, payments, smart contract wallets and more. The goal is to provide users with a seamless trading experience from the user’s perspective.”

In addition to the mainstream trading platform like MT5, Magic Compass also offers its proprietary trading system Cats and MC Payment as derivative service to satisfy more diversified need by users. This allows users to complete the entire process from account opening, KYC, trading, fund deposits and withdrawals under one account system, catering to different users’ preferences for various bridges and trading systems. Furthermore, Magic Compass revealed that its Hong Kong TCSP business is rapidly advancing, aiming to provide wealth management service based on the demands of high-net-worth clients, in addition to securities, futures, forex, and other businesses.