Alpari RU Sees January Volumes Hit $136.6 Billion, up 4.1% from 2013 Monthly Average

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 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 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.

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.

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