Distributor updates

gsmExchange’s strict security policies have always been unpopular with the majority of traders trying to enter the trading platform but this month has really given us good insight into why these measures are necessary. We have heard of an dramatic increase in bogus traders and this month alone was forced to reject and incredible 93% of applications for the good of the gsmExchange community. The majority of those rejected are legitimate businesses but their trading volumes were not in line with those already in the network. These measures always prove unpopular with those who have been unsuccessful in their application but as always stressed by the gsmExchange team, it is important to only invite businesses that can trade on the same level as those already using the platform.

On a plus side, we have been aggressively developing business in new and emerging markets and have successfully signed up a number of leading distributors in South America and Africa. On a whole, the community grew by nearly 30% in Q1 and we are happy to welcome the new members.

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