The recent FMPS in Australia was a notable event for professionals in the FX and Crypto industries. Over two packed days, attendees had the opportunity to network, attend insightful panels, and gain valuable takeaways relevant to the current market landscape.

Gold-i sent our Head of APAC, Joy, to FMPS and these are her takeaways:

 Networking and Engagement

“One of the standout aspects of the event was the opportunity for attendees to finally meet face-to-face with people they had previously only interacted with online as this was their first event in Australia. The networking opportunities were abundant, allowing for meaningful connections and collaborations. The organisers also made a conscious effort to include Mandarin sessions, aiming to engage the local Mandarin-speaking community, which added a valuable dimension to the event.”

Location and Venue

“Held at the International Convention Centre (ICC) in Sydney, the event's location was ideal. The ICC is recognised as one of the top exhibition centres globally, and its proximity to Sydney’s Central Business District (CBD) made it easily accessible for attendees. The venue provided an excellent experience, with top-notch facilities, impressive lighting, and high-quality catering. However, there was a sense that the event could have attracted more local attendees, even though it was primarily focused on business-to-business (B2B) interactions.”

Market Focus: FX, CFDs, and the Growing Interest in Crypto

“The event maintained a strong focus on FX, which remain central to many LP’s offerings. However, there was noticeable interest in cryptocurrencies, reflecting the evolving market trends. Despite this interest, Australia's regulatory environment, particularly the Australian Securities and Investments Commission (ASIC), continues to view cryptocurrencies as high-risk assets, limiting their availability to all investors.”

“Interestingly, the local market in Australia shows a higher preference for metals, energy securities, and stocks from other regions, compared to cryptocurrencies. This contrasts with markets like Singapore, where cryptocurrency ownership is more widespread.”

Joy’s Key Learnings

Cryptocurrency Interest vs. Regulatory Challenges:

“While there is growing interest in cryptocurrencies within the local market, regulatory constraints and the lack of leverage in crypto trading present challenges. The target audience for cryptocurrencies remains distinct from the broader local market, indicating a need for further education and local events to foster greater interest and understanding.”

Evolving Competitiveness Among LPs and Brokers:

“The event highlighted the increasing competition between LPs and brokers, with brokers making moves into the retail space and vice versa. Eventually, it benefits the traders by providing a better trading environment, with tighter spreads, lower costs, and better service/resources. However, the risks associated with B2B and B2C operations differ significantly, necessitating more dynamic tools that can meet diverse client needs.”

Flexibility in Technology and Service Offerings:

“The shifting market climate underscores the need for technology providers to be more adaptable than ever. This flexibility should extend beyond just products to include the services offered, ultimately aiming to create a better trading environment for all participants.”

The first FMPS successfully brought together key players in the financial market, offering valuable insights into the current trends and challenges. As the market continues to evolve, particularly with the growing interest in cryptocurrencies, ongoing adaptation and education will be crucial for staying ahead in this dynamic industry.