Russian forex broker Finam clients near 149K in Feb 2016

Russian forex broker Finam clients near 149K in Feb 2016

Finam

Russian investment service group Finam said on Friday it had 148,922 registered clients at the end of February 2016, of which 15,020 were active traders.

The company retained its leading position on the Moscow stock exchange as the futures and options broker with the largest number of registered clients. The company outperformed its closest competitor by nearly 250%. Finam is also the leader in terms of total active clients and customer growth.

Finam is a well-known brand in Russia. The Finam group consists of companies that offer trading in forex, binary options, futures, stock exchange-traded fund, as well as securities management and other investment services.

One of the group companies, Finam Forex, became the first and so far only forex broker licensed and regulated in Russia. The Russian central bank granted it a forex broker license mid-December 2015. Non-licensed Russian brokers are not allowed to operate in the country. However, foreign brokers can still target local citizens.

Finam, through its international brand WhoTrades, is licensed by the Cyprus Securities and Exchange Commission (CySEC), which allows it to operate in all EU member states, and US’s National Futures Association (NFA).

The broker offers trading services on major world stock and currency markets via the MetaTrader 4 (MT4) and the Whotrades FxWeb Trader trading platforms.

Source: Finam

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