Changes within the Alpari Group are bearing fruit.
Alpari Russia has reported that Jaunary FX trading volumes came in at a record $110 billion, which the company attributed to “a well-thought-out marketing strategy, … new technological solutions … and a favorable situation in the market.”
Based on the figures reported, we estimate that Alpari has indeed increased its market share in the Russia/CIS retail FX market to nearly 50%; and Russia now represents about half of the Alpari Group’s overall volumes.
Alpari has undergone some changes of late, which seem to be bearing fruit. The Group used to consist of four distinct fiefdoms — Russia, London, USA, and Cyprus (as well as a “stealth” brand ForexTime for other regions and for testing new products and campaigns) — which didn’t always mesh well together or get along, especially when in came to deciding which entity could or should go after new markets, such as the rapidly growing Arab Forex market, or the Far East.
With the move of Alpari USA head Daniel Skowronski to the UK as CEO of the London-based operation, and the splitoff of Alpari FS Cyprus with Alpari co-founder Andrey Dashin along with the ForexTime brand, Alpari seems to be much leaner and focused, with Alpari Russia doing well growing the Russian-language brand, and Skowronski and his team in London covering Europe and essentially the rest of the world.
For the complete press release from Alpari Russia click here.
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