The biggest FX broker in Russia and the entire CIS, Alpari Russia, has just reported that its trading volumes for 2016 saw a rebound as the second half figures helped snap early declines that had enveloped the broker in the first and second quarters.
During the last year, Alpari disclosed that a total of more than $1 trillion was traded, which represents a move higher over a yearly timeframe. A major factor that contributed to the paring of 2016’s early decline and a subsequent rebound was interest in the EUR/USD, GB/PUSD and USD/JPY currency pairs which accounted for 68.5% of total trades.
In addition, the last year showed a heightened interest across GBP/JPY (+ 102%), EUR/CHF (+ 50%) and EUR/GBP (+ 40%) pairings. By extension, XAU/USD trading also swelled by 63% year-on-year compared to 2015 figures.
In connection with the increased volatility of the Japanese yen and the pound sterling in recent weeks, trading on these instruments enjoyed far greater popularity among Alpari’s clients.
The continued rebound highlights the fact that the broker has been able to capitalise on the healthy bouts of volatility that have been rocking financial markets.
Alpari also highlighted that one of the impetuses for rising volumes in 2016 was strong demand for PAMM accounts, which saw steady flow from customers across both of its offerings, namely PAMM accounts and the PAMM-portfolios.
Earlier in November, Finance Magnates reported on Alpari after its Russian subsidiary, Alpari Forex LTD, received regulatory approval from the nation’s central bank to be officially authorized to operate in Russia pending some legislative requirements.