Alpari has emerged as the leader in the Russian retail Forex market in 2014, according to the latest comprehensive study provided by Interfax-CEA.
The broker has managed to win the first place amid all retail Forex companies active in the Russian market both in terms of clients and in terms of volumes. According to the research, in 2014, the average monthly volumes Alpari recorded in Russia amounted at USD 107 billion, a result which sets the broker apart from its competitors. The number of active clients is also rather impressive at 120,000.
The second place in terms of volumes and clients goes to Forex Club, a company that is well known as a retail FX place and a network of educational centers. The broker recorded average monthly volumes of USD 63.3 billion in 2014, whereas the number of its active clients reached 71,800.
The third place is occupied by Teletrade with average monthly volumes of USD 54.3 billion, whereas the number of active clients amounted to 61,500.
Several things to be noted:
The average monthly volumes are lower than the ones reported in 2013. Interfax analysts attribute this to a great extent to the tougher economic situation in Russia that has prompted many people to reconsider their way of investing.
The bulk of Russia’s retail FX market is concentrated within a handful of companies. The top three brokers – Alpari, Forex Club and TeleTrade, account for massive 64% of the Forex turnover and for 60% of the active clients. The top 10 brokers have an 80% stake in the market in terms of clients and volumes.
The situation is shaped by the high leverage that most FX companies in Russia offer. This will change markedly in October 2015, as the biggest part of the Forex law becomes effective, including the rule for a maximum leverage of 50:1.
Below is a table of the ranking of FX brokers in Russia according to monthly volumes. The data is in USD billion and refers to 2014. All of the data has been supplied by the companies themselves on a voluntary basis.
The text of the full report can be downloaded here (pdf).