"They Want to See Your Face": Inside ATFX Cambodia's Rise

In one year, ATFX Cambodia went from new entrant to the top-ranked derivatives broker by trading volume in the country. Behind that rise is a market that runs on a simple rule: clients want to look you in the eye before they hand over their money.

“They want to see your face. They want to come to your office. They want to get to know the company,” Alexander Lessells, CEO of ATFX Cambodia, told Finance Magnates in an interview published on 3 August 2026.

Contents

01

A Market Built on Personal Trust

02

The Licensing Gauntlet

03

Gold, FX and Controlled Growth

04

Building from Scratch, Looking Ahead

A Market Built on Personal Trust

Cambodia's trading market is small, young, and almost entirely retail. Deposits range from $20 or $50 up to around $1,000. Trust is built in person.

ATFX Cambodia holds seminars two to three times a week and hosts around 20 clients at its Phnom Penh office twice weekly. Webinars draw 25 to 60 prospective clients. Lessells encourages staff to meet clients face to face. “We have nothing to hide,” he said.

The broker recently marked its first anniversary by opening a new Phnom Penh branch, attended by H.E. Sou Socheat, Director General of the Securities and Exchange Regulator of Cambodia, and Seav Koaw Ing, Chairman of ATFX Cambodia.

The Licensing Gauntlet

A derivatives licence from SERC took ATFX through a rigorous process, with the National Bank of Cambodia adding its own strict guidelines. The minimum investment is approximately one million dollars, excluding compliance, finance, HR, and sales staff. “You'd be very lucky to hit six months to get up and running,” Lessells said.

Every product requires SERC approval. Marketing must carry clear risk warnings, and guaranteed returns are prohibited. Cambodian clients actively ask about local licensing, making the licence the firm's strongest marketing asset against offshore operators.

Gold, FX and Controlled Growth

FX and gold dominate trading, with indices a distant third among experienced traders. Gold carries cultural weight as a store of value woven into daily life from shops to weddings.

ATFX Cambodia imposes no aggressive monthly targets. The priority is education and controlled growth. The broker was ranked number one by trading volume for May 2026 in SERC's Derivatives Trading Report. The parent group, founded in 2017 and headquartered in Hong Kong, reported USD 1.09 trillion in total trading volume in Q1 2026 across 24 offices worldwide.

Building from Scratch, Looking Ahead

ATFX Cambodia employs around 50 staff in a standalone operation covering licensing, compliance, risk management, dealing, operations, IT, marketing, and 24/7 customer service. Lessells, half British and half Caribbean, has lived in China, London, and the US before settling in Cambodia.

The group is finishing an AI-driven platform called the AT Hub for lead management, client inquiries, and live chat across all regions. It is roughly 80 percent built. ATFX is working with SERC on bringing ATFX Connect, its institutional liquidity arm, into Cambodia. A new financial service not previously available locally is planned.