Moscow Exchange Says Number of Registered FX Traders up Because of New Member Offering

The Moscow Exchange Group (MOEX) has just announced that in the last 11 days the number of registered FX traders jumped nearly 1.5 times from 65,000 as of January 31, 2014, to nearly 113,000 as of February 11, 2014, in the exchange's Foreign Exchange Market business line.

The increase of 48,000 more traders in just 11 days includes companies and individuals, and is representative of the total number of clients across all MOEX exchange member firms, as explained to Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term Magnates' reporters by the exchange's press office today.

This nearly 73% climb was said to have been achieved due to the brokerage Finam (Finamrus.com), which had just given access to all of its customer to the FX market of the Moscow Exchange, thus causing the sudden increase.

In its press release, the exchange stressed that such massive increases in the number of clients that were granted access to its fx market had similarly occurred in August 2014 by the brokerage house Otkritie, and in January 2014 by KIT Finance.

The news follows Forex Magnates' coverage earlier this month, when MOEX reported lower FX trading volumes for the start of the 2014, after a stronger December, and after the group sold a stake in its MICEX division last month.

Russia has gained the attention of FX Market participants recently for a number of attractive reasons, including the expected fully free-floated Russian ruble that is expected to be implemented as the currency moves from partially floated to a more freely priced currency alongside modernly priced ones. However, on the other hand, the Regulation Regulation Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Read this Term of off-exchange FX and OTC online FX providers still remains in doubt, following a postponement of key State DUMA meetings that were expected to take place in recent months.

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