Increasing its slate of available trading instruments, Alpari RU has announced the launch of six new forex pairs. Heading the list is the USD/CNH which is rapidly becoming a mini-major with most large brokers beginning to offer the yuan over the last two years. In addition, they are adding coverage in the Israel shekel with the launch of USD/ILS and EUR/ILS trading. Other pairs are the EUR/ZAR, GBP/TRY and EUR/RUB, of which the currencies aren’t new, but are expansions of denomination pairs being offered.
Of the new listings, the yuan and shekel represent the most interesting pairs as they provide new currencies into Alpari’s mix of instruments. Among retail brokers, the addition of minor currencies often coincides with an expansion of a local office or representative branch in a new country.
How Will Zero-Fee Investment Platforms Impact Traditional Stock Brokers?Go to article >>
In the case of the yuan, Alpari currently services China via their UK regulated entity which has already offered trading in the USD/CNH. As such, the launch of the product with the RU unit could indicate a pivot of their Chinese support from the UK entity to the West Indies offshore operation. About such a change, we reached out to Alpari RU for comment, who responded that at this time they don’t have plans for the opening of an office in either China or Israel. However, affiliate sources who are partners with the UK entity broker have reported to Forex Magnates that the broker has been more particular in its onboarding process over the past six months.
In regards to its shekel offering, as stated abovAlpari doesn’t provide local support via a regional office in Israel or a Hebrew language site. In the past Alpari has been linked with opening an Israeli office, but those plans have never materialized.