Forex and contracts for difference (CFDs) brokerage group Forex Club saw 26% of its clients ending March 2016 with a positive trade balance, the broker said on Friday. Holders of deposits over $10,000 made up 52% of all successful traders.
A trader from China generated the largest profit of $35,000 last month, while the maximum loss a single Forex Club client made last month was $183,000. The loosing client was a trader who has been holding partially locked positions in GBP/USD since mid-2014.
Forex Club is a collective brand of several entities that provide trading in forex and contrast for difference (CFDs). The group companies serve clients in more than 120 countries. It is the second largest retail forex broker in Russia in terms of trading volume and active clients, according to the latest annual report of Interfax-Center for Economic Analysis (Interfax-CEA).
The brokerage’s Russian arm is a founding member of CRFIN, a Russian self-regulatory organisation. The broker supports MetaTrader 4 (MT4), Rumus, and StartFX trading platforms.
Forex Club is one of the entities that are awaiting to receive a license from the Central Bank of Russia (CBR) for a Russian forex broker. Last month, the broker also applied, through its Belarusian unit Financial Company Forex Club, to be included into the Belarusian central bank’s register with companies that provide forex services in the country.
Following regulatory amendments, forex brokers based in Russia are required to hold a CBR license as of 1 January, 2016, while in Belarus they need to be registered with the National Bank of the Republic of Belarus (NBRB).
Source: Forex Club