Retail Forex broker Alpari has released its trading volumes for the entire group for the month of July. This follows the recent publication of the trading metrics of its Russian business, which rose 9 percent in July compared to the previous month.
Combined trading volumes totaled more than $177 billion; hence rough calculations indicate that its UK units recorded volumes of $80 billion. The overall results indicate that the company has put its weak performance early this year behind. The company’s Russian operations saw volumes plunge below $100 billion, the first time in nearly two years.
Alpari disclosed that the revenue earned by its British operations in July was attributed to Alpari UK’s cashback incentive that gave dealers the opportunity to get a cashback of up to $250 if they traded using a Market account. The promotion was rolled out after Alpari UK successfully launched its new education center, where traders can access sophisticated FX courses that cover everything from the basics of trading all the way to advanced technical analysis.
“Traditionally summer can be a quiet time for trading, with a perceived lack of market volatility. We wanted to change this perception with an integrated marketing campaign that highlighted opportunities in the marketplace. We are very pleased with the campaign’s performance and traders can expect to see similar initiatives from us in the future,†said Hannah Hill, Alpari’s Global Head of Marketing, in a news release.
Meanwhile, UK’s Financial Conduct Authority (FCA) has warned investors against a clone website that impersonates AMT Markets. The name of the clone firm is AMT Markets and has a website www.amt-markets.co.uk. FCA noted that the fraudsters, who are mostly from the Far East, tend to use the name of a genuine firm, cold call potential clients and use the firm reference number (FRN) belonging to the genuine company. To register for a free 2-week subscription to ForexMinute Premium Plan, visit www.forexminute.com/newsletter.
To contact the reporter of this story; Yashu Gola at yashu@forexminute.com
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