Retail Forex broker Alpari has reported that FX trading volumes in its system hit $121.6 billion in October 2017, its best monthly result of the year and 6% above September’s $114 billion.
Alpari stated that the mid-Autumn month saw trading increases in all the major currency pairs. The biggest increase in turnover came from the EURUSD pair (+10%), which experienced higher demand from traders due an increase in the instrument’s volatility. A high level of trading activity was also witnessed on the GBPUSD and USDJPY instruments, as well as in the company’s PAMM account and portfolio services.
Achieving the 2017-best result was made possible by increased trading activity from existing clients as well as the company brand’s international expansion, including across South Asian markets and countries in the Indian-Oceanic region.
Alpari is now in its fifth year of working in Mauritius. A year ago, in Eben, the country’s business capital, Alpari opened its regional headquarters.
And, as was exclusively reported by LeapRate in late October, the Alpari Group initiated its return to the EU by securing a license for a newly-established subsidiary in Latvia. Preparations are now underway at the company’s Riga, Latvia office to start operations, which will allow Alpari to expand elsewhere in Europe. This marks a return of the Alpari Group to the EU, following the 2015 bankruptcy of London based, FCA regulated Alpari UK. Alpari UK filed for bankruptcy protection following heavy losses taken in the January 2015 spike in the value of the Swiss Franc.
Late last year Alpari became just the sixth retail forex broker to get a Bank of Russia FX license.