More Filipinos now engage in forex trading

Global foreign currency trading amounts to a whopping $1.2 trillion daily, but the Philippines’ minimal participation in the biggest financial market in the world precludes its benefiting from it.

That is about to change though as the groundwork that would enable more and more Filipinos to engage in spot foreign currency trading has already been laid by a company called Performance Foreign Exchange Corp. (PFEC).

PFEC will inaugurate on April 2, 2003 its Makati City office at the Enterprise Center.

"Performance gives you all the information you’ll need to make sound decisions on what currencies to trade and when. But what I find attractive is that they leave the decision-making to you," enthused Herbert Chan, an importer who avails himself of PFEC’s market expertise and technology advanced market tools.

"Whether you want to go with what they recommend or not, it’s up to you. If you want to proceed, they’ll even advise you to go with caution," added Chan.

Another PFEC client, Nico Cando, stressed that the edge of PFEC clients is the Internet platform that the company provides to make currency tracking, risk assessment and the trading itself instantaneous "at the touch of an Internet button."

This is in contrast with traditional foreign currency trading that is circuitous and time-consuming since trades are made through brokers, he averred.

"Benson," a Filipino-Chinese who works in a financial institution, explained that in foreign currency trading, time is of great importance since decisions have to be made fast before prices change and opportunities for making profits are lost.

"Using brokers to conduct trades, the value of a given currency may have already changed before it can even be completed," Benson said. "But with the FX2003 program available to PFEC clients, a trader gets to see currency positions in real-time, how broker banks are trading, and finally, trade himself or herself based on data and analysis-backed decisions."

PFEC was established in 1998 with expertise in financial services. It provides innovative services, quality investments and market expertise to clients.

But what sets PFEC apart from other similar corporations is its sophisticated Internet foreign currency trading platform that opens the world to its clients. This on top of market experts that are just a phone call away 24 hours a day whenever a client wants to sound off on a position he or she is interested in taking.