The Philippines' emerging industrialized
economy has been tipped as being among the most promising in the world, but
doing a Forex brokerage business can be a tricky task without the help of local
experts.
With the 12th largest population and the
43rd largest economy in the world, the Philippines is certainly has the scope
for development. However, there is one main challenge that potential entrants
must overcome – and it is to provide the local market with awareness for
finance and investment.
You see, trading and investment was
never a part of the Filipino culture and these were not being taught to schools
and most educational institutions as it was not a part of any school
curriculum. To better learn about it, interested people must
enroll in special program with expensive tuition fees. And those who offer free seminars cater into selling trading
platforms or insurance.
A typical Filipino facebook user has more than 20 groups with more
than 20,000 members each, these groups were mostly focusing on financial
literacy alone. Another good potential factor is about the increasing number of
Filipino bloggers, who write subjects about financial and investment opportunities,
and published articles that are mostly written in the local language.
Identified target market includes social media users with of
course the capacity to fund trading accounts. Millennials and young
professionals nowadays are entrepneurial and are looking for other ways of
earning through the use of internet. Also with the Overseas Filipino Workers
(OFW) actively looking for nontraditional business which will eventually give
them a good source of extra income. And of course, to those fund-capable people
who are specifically seeking knowledge about Forex trading where they can make
use of their spare money as an initial investment.
It’s not surprising that a lot of Forex brokerages are now
entering the Philippines for the past 2 years for its clear growth potential. As
the top performing economy in the South East Asia today, with people all
scattered around the globe, there’s no doubt that when you tap the Philippine
market you also tap the rest of the world.
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For more free PSE trading signals like and follow our facebook page @thetradeproject01.
You can also join our fbgroup discussions at The Trade Project Community.
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