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Russian Factor Weighs on Alpari's Forex Trading Volumes in Feb'14

Alpari, the global Forex broker, has just reported subdued Forex trading volumes for February 2014, blaming what it dubbed “the Russian factor” for the dismal result. 
 
The company said the Forex volumes in Russia and the Commonwealth of Independent States (CIS) for last month amounted to USD 110.8 billion, which is 19% lower than in January 2014, when the company recorded volumes of USD 136.6 billion in the region. Of course, it is not very wise to dig deep into comparisons between February and January metrics – we've said numerous times that the months are of different length and that January results are often spurred by the enthusiasm surrounding the start of any new year. We don't have the exact metrics for February 2013 to provide you with an apt comparison. But you may recall that the first half of 2013 was especially strong for Alpari with the group registering a number of records in monthly volumes. The picture is obviously rather different now.
 
Amid the reasons the group cited for the subdued operational result is the Russian factor, we've just mentioned. It concerns, as you may guess, the Ukrainian crisis, which leads to overall uncertainty amid investors. The situation affects the trading with the Ruble, the pricing of the Russian currency, as well as the overall political landscape. Latest reports say that Ukraine is about to exit the CIS. Adding to the pressure for the company, there is the fact that it has several offices in Ukraine, including ones in the eastern parts of the country where the tensions are high.
 
Another factor for the subdued February volumes is the low dynamic of the US macroeconomic stats. 
 
For those interested in the details of the results, we should mention that the three most traded currency pairs were the same as those in January 2014: EUR/USD, GBP/USD and USD/JPY. The euro led the way, accounting for $46.3 billion of the trading turnover.
 
 

About Alpari

 
Founded in 1998, the international Alpari brand is one of the leading names in online Forex trading and was recently listed as the world's third largest broker in a 2012 report from online financial portal Forex Magnates, with an average monthly trading volume of more than 200 billion US dollars. Alpari has earned the trust of hundreds of thousands of clients in more than 150 countries across the world, thanks in large part to its reputation for delivering high-quality products and top-notch customer support. The Alpari brand is represented in many of the world's leading centers of commerce, with offices in New York, London, Tokyo, Dubai, Frankfurt and Moscow.
 
TAGS: alpari  alpari russia  alpari forex broker  forex volumes  trading volumes  february  february metrics  2014  forex trading  russia  commonwealth of independent states  cis 

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