Finam remains Russian leader by on-exchange investment, futures, options clients in Apr 2016

Finam remains Russian leader by on-exchange investment, futures, options clients in Apr 2016

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Finam

Russian investment services group Finam said on Thursday it kept in April 2016 its leader position as the broker with the highest number of registered individual investment accounts, as well as with the most futures and options accounts on the Moscow stock exchange.  

The broker was also first in terms of highest number of active futures and options. It handled 151,497 client accounts last month, while active clients were 16,608 in total. Meanwhile, individual investment accounts amounted to 27,563, which is 7,000 more than these of its closest competitor.

Finam is also leader by the highest growth in April in futures and options accounts, the broker noted.

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.

Source: Finam

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