Forex and contracts for difference (CFDs) brokerage group Forex Club said on Wednesday the share of successful clients who closed the month at a profit was 30% in September 2016. Full 60% of holders of accounts with more than $10,000 ended last month in the black. Meanwhile, those with a profit or loss of up to $100 accounted to 70% of all traders, slightly down from 72% in August.
A month earlier, profitable Forex Club clients made up 28% of all, and those with deposits of more than $10,000 and a positive result were 57%.
The largest profit generated in September by a single trader amounted to $127,000 and was the result of actively trading in majors and gold. The highest loss was in the amount of $252,000, resulting from closing long positions on crude oil that were opened for too long.
Forex Club is a collective brand of several entities that provide trading in forex and contracts for difference (CFDs) on shares, metals, indices, and other instruments. The brokerage has clients in more than 120 countries. In Russia, Forex Club was the second largest retail forex broker in 2015 with monthly trading volume of an average $54 billion in 2015 and about 80,000 active clients, according to an annual report of Interfax-Center for Economic Analysis (Interfax-CEA).
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 entities to obtain a status as a registered forex broker in Belarus (the equivalent of obtaining an authorization). It was, however, denied license in Russia without explanation. The brokerage’s Russian arm is a founding member of CRFIN, a Russian self-regulatory organization (SRO).