Alpari Unable to Capitalise on Market Volatility, August Turnover Dips
Volumes at Alpari for the month of August 2015 declined once again, down 6.7% MoM to $87.5 billion.
Alpari has reported its volumes in Russia and the Commonwealth of Independent States (CIS) for the month ending August 2015. The figures show the broker’s volumes still stagnant, with trading volume again registering another consecutive month of decline from July.
Indeed, last month saw Alpari Russian and CIS volumes wane marginally to $93.6 billion in July 2015, having incurred a slight decline of 0.8% MoM from $94.4 billion in June 2015.
For the month of August, the drop cannot be described as marginal. Rather, the broker has announced that its monthly trading turnover came in at $87.5 billion, which represents a 6.7% decline MoM.
The continued weakness highlights the fact that the broker has not been able to capitalise on the healthy bouts of volatility that have been rocking financial markets. In contrast, trading volumes in August have picked up almost universally across all major brokers in the industry as traders have rushed to take advantage of the volatility.
Indeed, the 24th of August, the day dubbed as “Black Monday” for the Chinese market, saw many brokers register their best trading day since the SNB debacle. Therefore, Alpari’s monthly figures are out of sync with competitor brokers such as FXCM, Saxo Bank and GAIN Capital, all of which posted healthy volumes during the month of August 2015.