FXPRIMUS is one of the more established brokers operating in Mauritius, seemingly defying what has been an otherwise lackluster quarter for FX retail brokerage firms – the firm deals in FX, commodities and global equities. September 2014 volumes jumped 130% YoY, processing $40.02bln notional in client transactions. Across a quarterly interval, Q3 volumes are still up 25% YoY, despite industry headwinds that have left several brokers reeling.
According to Terry Thompson, President of FXPRIMUS, in a recent statement on the volumes, “I’m obviously pleased by the significant increase in volumes, specifically in September. Throughout 2014 we have consistently established new benchmarks in terms of client deposits, new funded accounts, and active traders on our platform just to name a few. Its nice to see that volatility is creeping back into the market, and our clients are able to put their money to work, and the new participants have a reason to be active.”
The FX Global Code – Is Self-Regulation the Future of the Industry?Go to article >>
“In just Q3 alone we averaged roughly $10M in monthly deposits and 1,300 new funded accounts per month. As our focus historically has been South Eastern Asia, we’re starting to make some very nice progress in other countries in the East as well and this is being displayed by our metrics going through the roof,” Thompson added.
“We’ve secured new key relationships with some sizable introducing brokers (IBs) and money managers. We have always treated our IBs and money managers very well, and have never taken them for granted. We have IBs & money managers that have been with us the entire 5+ years we have existed, because they know we compensate them well and we don’t play games which unfortunately hurt IBs elsewhere in the industry.”
Finally, “In addition, we’ve signed on a few vendors such as Leverate to utilize their Sirix social trading platform and have invested a great deal in improving our infrastructure in order to give our clients the best trading experience possible regardless of where they are trading. So all in all, I’m very bullish both on the FX market as a whole going forward and of course FXPRIMUS. We feel we’ve worked very hard as a company to be able to provide our clients the very best of the best in all facets of this business, and consider ourselves very fortunate to be in the position we are in right now,” Thompson reiterated.