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About 460,000 investors use the services of Forex brokers in Russia, with cumulative average trading volumes per month around $330 billion, according to the Interfax annual study of the Russian Forex market for 2015.
The total size of deposits reached meager $0.5 billion.
The amount of FX transactions fell 5% from 2014 levels, with the drop attributed to the economic crisis in Russia.
At the same time, the number of clients of Forex brokers in Russia rose 15% from 2014 levels, which underlines the growing interest in this sort of investments.
The leaders from 2014 continued to dominate the Russian Forex market in 2015. Alpari, Forex Club and TeleTRADE have 60% of all FX clients in Russia and accounted for 57% of the overall trading volumes.
- Alpari had 137,000 clients in 2015, whereas average monthly volumes amounted to $90 billion.
- Forex Club had 80,000 clients in 2015, whereas average monthly volumes amounted to $54 billion.
- TeleTRADE had 61,000 clients in 2015, whereas average monthly volumes amounted to $45 billion.
Let’s note that the three Russian FX market leaders are still waiting for the Bank of Russia to decide on their Forex dealer licenses. The single Forex broker in Russia that has obtained the necessary license is FINAM. FINAM is present in the ranking at number 10 according to volumes.
Other companies showing decent achievements are: FxPro (at #13 according to trading volumes), Dukascopy (#18), Oanda (#21), Exness (#24) and eToro (#25).
The study is critical of the Russian Forex law, given the strict requirements for Forex companies. But a particular point of discontent is the maximum leverage restriction, which the law puts at 1:50.
Below is the full table from Interfax’s study which ranks the Forex brokers active in Russia according to their average monthly trading volume ($ billion) in 2015.
For the full Interfax study, click here.