Russian forex brokerage group Alpari said on Wednesday it has launched a new type of trading account for binary options, alpari.binary. The new account can be opened in EUR and can be used for trading binary options in EUR and USD.
The new account type is available on Alpari’s BinaryTrader platform and can be used by traders in Europe and the Commonwealth of Independent States (CIS).
There is no minimum deposit requirement for the new binary options account and contracts can be made for amounts in the range EUR/USD 5-5,000. The accounts allow binary options trading with an expiration time from 1 minute to 24 hours and have payout level of up to 100%. Investors can use this type of account to trade 17 currency pairs, and two spot metals – silver and gold.
In addition to the new binary options account, Alpari also offers four types of forex trading accounts – nano.mt4, standard.mt4, ecn.mt4, and pro.ecn.mt4, using the MetaTrade 4 trading platform. The forex accounts minimum deposit requirements range from no deposit for nano accounts to EUR/USD 500 for pro accounts.
Earlier today, Alpari said it has applied, through its Russia-registered unit Alpari Forex, to obtain a forex broker license in Russia. The news comes just a day after the Central Bank of Russia (CBR) said it granted the first forex broker licens to Finam Forex. Another two brokers – TeleTrade and Forex Club, are in line to obtain a license in the country.
Russia adopted earlier this year regulatory amendments, requiring all forex brokers operating in the country to obtain a license from the CBR, which is in charge of the regulation of the forex market in the country, or else they will cease operations after 1 January, 2016.
The Alpari group has offices in Russia, Saint Vincent and the Grenadines, Mauritius, and the UAE. The group’s companies are registered and regulated in Mauritius and Saint Vincent and the Grenadines. Alpari is a member of the Russian self-regulatory organization Centre for Regulation in OTC Financial Instruments and Technologies (CRFIN).
The group consists of the companies Alpari-Broker (Russia), Alpari Ltd (Saint Vincent and the Grenadines), Alpari International Ltd (Mauritius), Alpari Ltd (Belize). In January 2015, Alpari’s UK branch went insolvent after it saw exceptional volatility and extreme lack of liquidity as a result of the EUR/CHF collapse.
The Alpari brand serves more than one million customers in 150 countries. The total global turnover of Alpari in 2014 exceeded $ 2.5 trillion.