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Russia-oriented forex brokerage Alpari reported on Thursday its trading turnover stood at $89.4 billion in November 2016, posting an increase of 3.8% from the preceding month. This is the second highest monthly value in 2016 after April.
The figures were mainly driven by the notable growth in the trading volume of the EUR/USD and USD/JPY currency pairs, the broker noted without providing figures.
Following are the monthly trading turnover of Alpari since the beginning of the year:
Month in 2016:
During the month, Alpari Forex, part of Alpari group, obtained forex broker license from the Central Bank of Russia (CBR), a long-awaited license which the broker was initially denied. Alpari is the largest retail forex broker in the country by trading volume and number of customers. It also launched operations in Belarus, where it was authorized earlier in the year.
Under the Russian jurisdiction, locally-based forex brokers are allowed to operate only if they obtain CBR’s authorization. No such requirements apply for foreign brokers, though. As a result of the newly-obtained license, Alpari can offer clients to choose whether to operate via the Russia-regulated unit or any other entity of the rest of the group.
The Alpari group is headquartered in Russia and consists of companies regulated in Belize, Murititus, St. Vincent and the Grenadines, Belarus, and Russia. It offers trading in forex, metals, and contracts for difference (CFDs), and binary options. It is focused on Russia and the Commonwealth of Independent States (CIS), or the former Soviet countries.