Total Deposits Reach an All-Time High at FXPRIMUS in November, but Volumes Drop 19% Month-over-Month

FX Primus Ltd. released today its trading metrics for the month of November 2014. The Mauritius-based broker reported client transaction volume during the month of $30.27 billion, a 19% decrease from October’s volumes. This represented a second month of month-over-month declines for FX Primus from September's $40.02 billion, but still up over 30% compared to November of 2013.

On the positive side, total client deposits reached an all-time high of $11,475,327 in November and newly funded accounts came in at 1,315, which represented year-over-year growth of 101% and 111% respectively.

President of FX Primus Mr. Terry Thompson commented on November’s results, “Our FX volume remained solid in November. However, despite a strong second half of the month, our CFD volume slacked off a bit this month. In looking at some of our peers' figures for November, it appears there were lower volumes reported across the board, so I’m not overly concerned especially after the dramatic rise in volumes we experienced the past 2-plus months. Our deposits and newly funded accounts remained buoyant as we continue to expand in new markets and previously unexplored regions."

Thompson indicated that a few key developments are on the horizon for the broker, “We’re looking to wrap up quite a few initiatives our team has been working diligently on in the weeks to come, and we feel these projects will greatly enhance the FX Primus brand. We’re committed 100% in providing clients and prospective clients with a world class product." It is likely that part of what he has hinted at is related to the acquisition of CMS Forex, taking the broker into the institutional space.