This is a Guest Post from Stanislav Galandzovsky. Stanislav was Head of User Acquisition at NAGA and has grown the paid ad operations of seven prop trading firms. You can find him on LinkedIn here.
As more prop firms launch and competition rises, one question keeps coming up: where is the next phase of growth going to come from?
The answer, increasingly, is outside of North America and Western Europe. Firms that want to scale efficiently are looking to the Global South – not just because of lower costs, but because of stronger engagement, rising demand, and communities that are maturing fast.
But not all markets are created equal. In this article, we’ll explore where the strongest opportunities lie, what to consider before entering, and how to tailor your channel strategy to local conditions – based on my experience from paid campaigns across 120+ markets.
Why Emerging Markets Are Attracting Attention
Many established regions now face two major challenges: high acquisition costs and increasing regulatory scrutiny. Emerging markets, by contrast, offer lower media costs, growing trader ecosystems, and fewer structural barriers.
What I’ve seen in practice:
- CPMs can be 3–5x lower than in the US or EU.
- Local communities on Telegram, YouTube, and Discord are driving real engagement.
- Traders often view prop accounts as a path to financial independence, especially when paid in USD.
But success doesn’t come just from entering the market. It comes from adapting – to local expectations, payment flows, and communication styles.
Let’s break it down by region.
Asia: Responsive Audiences, But Localization Is Critical
Some Asian countries offer one of the best cost-efficiencies among geographies – but only if campaigns are fully localized. Traders in markets like Bangladesh, Pakistan, and Indonesia are highly active, but expect experiences in their own language, currency, and payment method.
Let’s take Indonesia. You’ll need Bahasa creatives, local wallet integrations, and ideally a team that understands how payments like Dana and OVO work. If you ignore this, even the best offer will burn budget without results.
| Country | Average CAC | Average challenge purchase price | Notes |
| Bangladesh | $3.40 | $41 | Familiar with prop trading; CPCs from $0.12; bKash and crypto used. |
| Pakistan | $2.40 | $26 | Very low CAC; strong YouTube and Telegram activity. |
| Indonesia | $4.00 | $52 | Rapid growth; Bahasa localization and OVO/Dana payment options needed. |
Key takeaway: The potential is strong, but generic campaigns won’t work. Everything – from language to payments – needs to be local-first.
Latin America: Scale Comes Through Education and Trust
Latin America’s trading culture is expanding fast, especially in Brazil, Mexico, and Chile. But this is a content-driven region. Firms that invest in local creators, education-first messaging, and strong support systems tend to perform best.
Brazil is the largest audience and offers scale, but only if your creatives are in native Portuguese and your checkout process supports instant payment systems like PIX. Mexico, meanwhile, demands price transparency and native support. Across the board, the strongest results come when firms partner with local educators or influencers.
| Country | Average CAC | Average challenge purchase price | Notes |
| Brazil | $11 | $114 | Requires native Portuguese content and support for PIX/boleto. |
| Mexico | $8 | $84 | Price-sensitive; local payment methods like OXXO/SPEI essential. |
| Chile & Peru | $6 | $84 | Lower saturation; early-mover advantage with education-focused offers. |
Key takeaway: This is a relationship-first region. Build credibility through relevant creators and make payment simple.
CIS: Skilled Traders, Crypto-Ready Infrastructure
The CIS region has a long history with forex and crypto trading, so traders here are very skilful. But infrastructure is key. Many users rely on crypto to fund accounts due to banking limitations – so if you don’t offer USDT, they may simply move on.
Take Ukraine, for example. Even during wartime, the trading community remains extremely active, but they expect flexibility: Telegram support, quick payouts, and, in some cases, direct communication via personal Telegram or Viber chats to clarify payout processes or confirm account status. This kind of accessibility builds trust and helps reduce drop-off during onboarding.
| Country | Average CAC | Average challenge purchase price | Notes |
| Kazakhstan / Uzbekistan | $8.00 | $83 | Strong trading interest; users often rely on crypto and expect fast mobile-first onboarding. |
| Ukraine | $7.00 | $83 | Highly engaged audience; payout flexibility and local support matter. |
Key takeaway: Community integration is key. These traders are experienced and value credibility, flexibility, and clear communication.
Markets to Watch in 2025
While the above markets are already active, several other geographies are emerging – and offer early-mover advantage. These markets aren’t yet saturated but show rising search intent, growing communities, and lower CPCs than mature regions.
For example, I’ve seen early wins in the Philippines where local creators are building trading audiences without a dominant prop firm present. Or in Kenya, where USD-denominated payouts are especially valued due to local currency volatility.
| Country | Strategic Opportunity |
| Vietnam | Fast-growing search interest; local communities emerging rapidly. |
| South Africa | Africa’s largest trading base; strong social engagement and payment options. |
| India | High demand with regulatory constraints; Wise and crypto commonly used for funding. |
| Kenya | High engagement on Telegram; strong preference for USD payouts. |
| Philippines | Rapid organic growth; no dominant prop firm yet. |
| Colombia | Consistent growth; good entry point for educational models. |
| Turkey | Saturated, but high motivation and affordable traffic. |
| Egypt | Demand is rising; payment infrastructure still a challenge (crypto/local wallets help). |
The Channels That Drive Performance – And Where They Shine
After running paid campaigns across 120+ markets, one pattern is clear: different regions respond best to different channels. And matching your media mix to the market often makes the difference between scaling and stalling.
Google Search Ads remain the most efficient for direct acquisition – especially in markets where intent is already high. Users actively searching for terms like “prop trading firms” or “get funded account” tend to convert at a lower CAC. In places like Portugal, Slovenia, and Vietnam, where users are more familiar with the model, Search is a reliable base layer – even if the volume is limited.
Meta (Facebook & Instagram) is the go-to for reach and early-stage engagement, especially in LATAM, South Asia, and Africa. In countries like Brazil, Mexico, and Kenya, these platforms help drive awareness and retarget future depositors – even if users don’t convert immediately. CAC is higher than Search, but the upside is visibility and brand lift.
YouTube continues to perform well in video-first cultures. In regions like Pakistan, Indonesia, and South Africa, short-form videos – especially UGC-style content with hooks in the first 3 seconds – drive strong results. It’s not just a top-funnel channel: when paired with proper retargeting, it becomes a key trust-builder.
Other channels also show promising signs in specific regions:
- Taboola and Outbrain often work well in India, Philippines, and parts of LATAM, where native content still gets high engagement at low cost.
- Adroll is a strong DSP for reinforcing and expanding your retargeting efforts.
- Moloco is a younger ad network worth testing, as it can sometimes deliver unexpectedly strong results.
The key takeaway: no channel works in isolation, and there’s no universal winner. But when media strategy is aligned with regional behavior, the results are consistently stronger – lower CAC, better retention, and more efficient scaling.
What to Evaluate Before Entering a New Market
Not every new country is worth launching into right away. Use this framework to evaluate potential:
- What’s the real CAC to get a funded user?
- Can you legally advertise there?
- Are preferred local methods available and easy to integrate?
- Are there active trader communities (Telegram, Discord, YouTube)?
- Do you have local support or partners?
Final Thought: Expansion Is Strategic, Not Opportunistic
Entering new markets isn’t just about chasing lower costs, it’s about finding the right match between your offer and the market’s readiness.
If a market is too early, you’ll spend time educating with little return. If it’s too mature, you’ll be outspent by larger players. The goal is to identify regions where intent is rising, competition is still low, and your firm can build a meaningful presence.
Bio
Stanislav Galandzovskyi is an Acquisition & Growth Expert specializing in trading and fintech markets. Over the past 8 years, he has helped scale user acquisition across 120+ markets – including as Head of Acquisition at NAGA and as a growth consultant for seven proprietary trading firms. He also played a key role in building the paid acquisition function at Zilch, a UK-based fintech unicorn.
