Representing the largest contributor of fx volumes from the Alpari group of companies, Alpari Russia, today announced its January 2014 trading volumes for Russia and the CIS regions, totaling $136.6 billion, as January continues to see industry-wide increases in FX volumes, compared to the prior month.
For clients across Russia and the CIS, Alpari RU’s total trading volume in January was 4.1% higher than its 2013 monthly average total of $131.2 billion, representing an increase of $5.4 billion for the first month of 2014, after the company finished off 2013 with a record total.
Forex Magnates covered its previous volumes release, after Alpari held a press conference to discuss the year in review.
In addition, the number of trades in January surpassed the 1 million mark, and the number of open accounts stood at 1.1 million, according to the official press release from Alpari RU.
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The single largest increase in turnover for Alpari in January was $9.1 bln, seen in the GBP/USD currency pair, an increase of 40%, according to a description in the announcement.
There was also a noticeable increase in the volume of trades in the EUR/USD currency pair with trading volume growing by $8.9 bln, a rise of 17% over the prior month. The distribution of volumes across the three most traded currency pairs in January included EUR/USD taking 45%, GBP/USD at 24% and USD/JPY receiving 7% of all trades, according to the broker’s findings.
The news follows after Alpari US was fined $50,000 by the NFA for administrative compliance reporting, as well as the subsequent withdrawal of Alpari UK from its Binary Options offering, citing regulatory concerns.