Volumes averaged $131.2B per month in trading volume in 2013.
Russian brokerage powerhouse Alpari has revealed its key performance indicators for 2013. It is claiming to be the only company in the country to release internal figures to the public. The latest batch is rather impressive – Alpari Russia has announced in a press conference yesterday that the number of accounts opened at the firm has reached 1.08 million. Key figures that management has reported included the average volumes per month which totaled $131 billion.
According to the press release by the company its revenues per million dollars traded amounted to $66.5. That totals to about $105 million in revenues for 2013 and marks a substantial increase from a year ago. The company’s CEO Boris Shilov has stated that the considerable leap forward in the company’s performance in 2013 has been mainly attributed to continued improvement in the trading environment that the firm offers and introduction of new types of accounts and services.
The company is actively involved in the regulatory efforts that the Russian government is aiming at the forex industry. We could argue that some conflicts of interest might come to the surface, since the biggest brokerage heavyweight is actively lobbying for legislation by the Russian Duma. We will know more about that when regulation is finalized and we are certainly hoping that smaller FX firms won’t be cornered out of the forex market.
Intensive competition results in better quality and ultimately more and growing customer loyalty of aficionados about FX trading in Russia. Stay tuned to LeapRate for the latest news surrounding the Russian forex market.
For a link to the full press release visit Alpari Russia’s website.
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