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Forex broker Armada Markets reports record trading volume of USD23.3bn in October

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Armada Markets, a global spot forex broker, has reported a record USD23.3 billion trading volume for October, which is 103 per cent higher compared to October 2013 and 14 per cent higher compared to the previous month.

The company sees the growth being supported by continued elevated volatility on all financial markets and strong growth in client numbers from Asia Pacific region.
 
Armada Markets also continues to show strong profitability with Q3 net profit coming in at USD0.68 million on top of USD1.10 million earned in H1 of 2014. The company expects the annual 2014 net profit to reach USD2.4 million to USD2.7 million.

The company also shed some light on the mix of clients reporting that in October 2014 its top 100 clients accounted for 64.9 per cent of the total trading volume whereas the most active Client accounted for 3.3 per cent of total trading volume. Armada Markets has mostly attracted smart retail and institutional clients who demand very low spreads, low commissions and a trading environment with fast execution and no broker-imposed restrictions on profitability.
 
October was an unusually eventful month in financial markets with the Federal Reserve completing its Quantitative Easing programme while the European Central Bank started its ABS purchasing programme and the Bank of Japan increased its stimulus efforts. During the month, Armada Markets Clients were actively using the opportunities presented by the collapse of Japanese Yen, Russian Ruble and the breach of USD1,180 support level in gold. As a result of increased volatility and growing client numbers the company expects to reach a monthly trading volume of USD25 billion to USD35 billion within the next six to nine months.
 
Ingmar Mattus, CEO of Armada Markets, says: “Our clients and the whole team are delighted to see that volatility has finally returned to the spot FX markets and as the Fed has completed its QE programme then I believe the volatility is here to stay. As with higher volatility the clients on average trade more then I believe they can discover first hand how important it is to trade with low spreads and commissions and how it positively affects profitability.”

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