Forex and contracts for difference (CFDs) brokerage group Forex Club said on Thursday the share of profitable trading accounts with balance of more than $10,000 was 55% in May, compared to 44% a month earlier. Overall, successful accounts accounted for 28% of all last month, while in April they were 24% of all.
Full 72% of its clients ended May with a profit or loss of up to $100, which is three percentage points higher than in the previous month.
The maximum profit generated by a single trader jumped some 85% on the month to $96,000 in May, while the largest loss was $200,000, down from $341,000 in April.
May was marked by low volatility, according to the brokerage, but many investors followed its advice and traded in NVIDIA Corporation shares, which saw a growth in price of 31%, resulting in many successful trades.
Forex Club is a collective brand of several entities that provide trading in forex and CFDs on shares, metals, indices, and other instruments. The brokerage has clients in more than 120 countries.
In Russia, Forex Club is the second largest retail forex broker in terms of trading volume and active clients, according to the latest annual report of Interfax-Center for Economic Analysis (Interfax-CEA). The broker had a monthly trading volume of an average $54 billion in 2015 and about 80,000 active clients in Russia.
Forex Club aims to expand its presence within the Commonwealth of Independent States (CIS), or the former Soviet countries. Through its subsidiary Financial Company Forex Club, the group recently became one of the first two to obtain a status as a registered forex brokerage in Belarus (the equivalent of obtaining an authorization). It is also awaiting to receive a license from the Central Bank of Russia (CBR) for a Russian forex broker. The brokerage’s Russian arm is a founding member of CRFIN, a Russian self-regulatory organization (SRO).
Recently, Forex Club announced the upcoming release of Polkvadrata, its latest proprietary trading platform. In addition, it offers trading via Libertex, Rumus, and StartFX, all in-house products, as well as the industry leader MetaTrader 4 (MT4).
Source: Forex Club