Korea’s ‘first online FX platform’ set to grow

Choi’s projection is based on the platform’s uptake since its launch in March -- it now has around 5,000 users, he said.

The platform traded US$250,000 on its first day, but daily volumes are now between US$50 million and US$80 million, according to Choi. "We hope to achieve US$200 million by the end of the year," he said.

Choi founded the company under the name Nforex in April 2000 with the purpose of developing what he claims is South Korea’s first online FX platform. "IBS provides a 24-hour