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Russian investment services group Finam saw the number of its active clients on the Moscow stock exchange growing to 16,296 in March from 15,020 in the previous month, the group said earlier this week.
The total number of on-exchange client account the broker handled also grew over the month to 150,269 in March, maintaining its leader position as a futures and options broker with the largest number of registered and active clients. The broker was also the top performer in terms of customer growth in the futures and options segment.
Finam is a well-known brand in Russia. It is among the top ten retail forex brokers with an average monthly trading volume of $6 billion in 2015 and 7,000 active forex clients. 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.