Do not invest more money than you can afford to lose.
Russia’s largest forex broker, Alpari, announced latest trading volumes and statistics on its website. According to the statement, the broker saw its trading volumes fall by 11.6% MoM in June, coming down to $78.7 billion. In fact, one can see a downward trend, as the turnover for May registered a decline of 3% compared to April, when trading volumes reached $91.8 billion.
June started off on a bad note for Alpari indeed, as the Bank of Russia refused to give it a forex broker license, without providing any reasons. The good news is that Alpari Eurasia, the company`s unit in Belarus, got entered into the register of the National Bank of the Republic of Belarus (NBRB) as an authorized forex broker.
Тhe most popular currency pairs in June were once again GBP/USD and EUR/USD, the trading conditions for which were changed over UK referendum due to the high market volatility. Trading in USD/JPY, on the other hand, rose by 6% MoM, and in XAU/USD – by 34%, reaching its highest level since September 2014.
Meanwhile, many FX brokers registered higher trading volumes in June due to the Brexit-related market volatility: The Danish investment services and retail forex broker Saxo Bank posted a 2.4% rise in trading volumes from May, Gain Capital’s GTX June trading volumes jumped 24%, institutional forex broker Hotspot hit a record $59.5 bln for a single day in June, GMO Click Securities & FX Prime also saw their trading volumes from over-the-counter (OTC) forex activities on the rise in the first summer month.
Headquartered in Russia, Alpari has offices in Saint Vincent and the Grenadines (SVG), Mauritius, and the UAE. The group companies are registered with and regulated by the relevant authorities in Mauritius, SVG and Belarus. Alpari used to operate a UK-regulated branch, which went insolvent in January 2015 after it faced exceptional volatility and extreme lack of liquidity as a result of the EUR/CHF collapse.
