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The Portrait of Russia's Typical Forex Trader is Ready

CRFIN, or the Center for regulating OTC financial instruments and technologies, has revealed the results of a survey of 1,140 Russian traders, which depicts the characteristics of a typical Russian trader seeking to profit on the Forex market. Thanks to a report in newspaper Kommersant, we can offer you a glimpse into these characteristics. 

 
- To begin with, we look at the gender of the Russian trader. There is a clear domination of male traders, who account for 94% of all traders on the Russian FX market, with female participants accounting for modest 6%.
 
- The age of 50% of Russian Forex traders is between 25 and 40 years, while 30% are between 18 and 25 years of age.
 
- The typical Russian FX Trader works in an office or is a business entrepreneur.  At least these are 19% of the participants in the survey.
 
- Regarding experience, 61% of those surveyed had experience of less than 3 years on the FX market, while 19% had expertise of 3-5 years.
 
- The preferred trading instruments of 72% of Russian Forex traders are currency pairs (the USD pairs being at the top), while 11% stick to trading with precious metals.
 
 
How many Forex traders are there in Russia?
 
CRFIN says that there are between 400,000 and 500,000 active participants in the Russian Forex market at this point. Annually, the growth is of about 20%, despite the fact that many get disappointed and quit – the organization says that roughly 10% of all FX traders in Russia exit this market in a year, while 30% enter.
 
Why is regulation necessary? 
 
Let's remind you that the Forex bill which passed its first reading in June this year is still stuck in the Russian parliament. The new Russian Megaregulator is among the fiercest opponents of the proposed legislation citing the lack of rigid protection for clients of Forex brokers. 
For that matter, it's worth noting some of the main complaints that Russian FX traders have about the work of their dealers. These include scarce transparency regarding quotes, as well as difficulties when withdrawing money. Hopefully, the pending regulation will manage to solve these issues. 
TAGS: russia  russia forex  typical russian forex trader  forex trading  russian trader age  russian trader job  russian trader gender  currency pairs  forex market  crfin  crfin survey 
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