Financial services provider, Alpari Russia, has reported that it will be expanding its institutional product offering. The Russian-based brokerage firm will be rolling-out the changes on the eighteenth of August on its ECN and Pro account types. The enhancements will offer users more functionality with cost advantages.
Alpari Russia will be launching new account types on its ECN solution. On the Pro account set-up, users will benefit from key advantages including; additional liquidity providers, no restrictions on the number of open orders, lower trading fees and higher minimum deposits for activating new accounts.
The firm will be replacing its current ECN offering, in the official notification* it stated: “Alpari launches a new selection of ECN account types. Instead of the current ecn.mt4 and ecn-new.mt4 our customers now will have access to two new accounts: pro.mt4 and ecn.mt4 with improved terms of trade.”
Alpari’s new trading facilities highlight the firm’s strong positioning in the sector. The new changes are useful for automated and algorithmic traders. Traders commonly use Expert Advisors on the popular MetaTrader 4 platform under the reduced transaction size; traders can open positions with lower margin requirements. In addition, traders who build up smaller positions into large positions have no restrictions, as the broker confirmed: “There is no limit on the maximum number of open orders.”
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The new changes will also be reflected in the firm’s allocation solutions for fund managers. Traders who use the firm’s PAMM service will experience similar changes with the accounts having different product codes, for example, pamm.ecn.mt4 will be amended to pamm.pro.mt4 and the pamm.ecn-new.mt4 will be altered to pamm.ecn.mt4.
Alpari Russia has been gradually enhancing its overall client offering and recently the firm launched a new information service providing traders with investment ideas. The new service aims to bridge the gap novice traders face when entering the complex margin derivatives markets. The firm’s idea solution differs from investment advice, Alpari issued a disclaimer stating that it does not provide users with guidance or advice on what instruments to trade.
The global brokerage firm has been on the receiving end of declining trading activity, like its peers. In June, the firm saw volumes decline by 5% at $88.5 billion in average monthly** trading volumes.
*The notification was translated from Russian into English.
**This has been corrected since initial publication.