Alpari just reported on the outcome of the first two months of 2017 in terms of trading volumes. The brokerage is countering industry-wide trends and reports increased activity in a back-to-back monthly increase.
The company has also become the latest member of the only Bank of Russia approved self-regulatory organization (SRO), the Association of Forex Dealers (AFD).
After years of preparation, the Russian regulatory regime is set to become active in May. In compliance with the current regulatory framework, companies that are operating in the country cannot legally advertise their products.
Commenting on the news, the Managing Director of the Bank of Russia licensed Russian subsidiary of the company, Guzel Myrzeeva, said: “The SRO membership is one of the most important steps for Alpari Forex on it’s way to become a regulated forex dealer in Russia. After the acceptance into the AFD, we can more efficiently direct the industry in a positive direction.”
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“There is a long way ahead of us to make the Russian regulatory jurisdiction demanded and competitive,” she concludes.
Alpari states in an official announcement that it also launched a new mobile trading platform in the beginning of the year. The app supports Russian, English, Portuguese, Spanish, Vietnamese, Chinese, Indonesian, Farsi, Hindi and Arabic.
Strong January and February Volumes
Alpari reports that its total trading volume for the first two months of the year amounted to $185.2 billion. In January, the firm marked a monthly increase when compared to December that totaled 4 percent for a month-end result of $90.9 billion.
February has proven to be even more active for the brokerage, with $94.3 billion transacted by clients of the company. Alpari is bucking the industry trend of declining trading volumes across all major brokerages that reported their figures.
Trading was driven primarily by the EUR/USD and the GBP/USD pairs. Overall, Alpari reports to have registered a broad based increase in trading volumes across a multitude of instruments.