Alpari Emirates will provide professional consultancy covering online trading and services offered by Alpari (UK). The mission is to expand Alpari (UK)'s business in the Gulf region serving individual traders, fund managers and institutional customers with innovative and proprietary currency trading technology combined with quality execution, competitive spreads and margins, and helpful customer support with a highly professional team in the United Arab Emirates.
Andrey Vedikhin, Co-Founder and Chief Executive Officer of Alpari (UK) and Co-Founder of Alpari Emirates, said:
"Alpari's decision to open its regional office in Dubai underlines the strategic importance we attach to the Middle East FOREX trading market, and is equally a demonstration of confidence in the ability of Dubai to continue to remain the financial nerve centre of the region."
"The Alpari office in Dubai will serve our existing and potential retail and institutional customers in the UAE and the wider Middle East, a market which we have seen expand exponentially in 2008," Vedikhin added.
Alpari is one of the world's fastest growing providers of online forex trading services, with 100,000 live accounts worldwide and daily trading volumes in excess of $2bn. In 2008, the company was able to record a 543% increase in individual traders, money managers and institutional customers worldwide, in spite of the uncertain financial climate.
Alpari's foray into the Middle East comes at a time when forex trading volumes in the region are soaring dramatically on account of ongoing volatility. Alpari has already seen a 319% surge in its UAE consumer base this year, and the company expects to increase its live accounts growth rate in the Middle East to 500% in 2009.
"With growth prospects for the equity and bond markets flagging, retail investors in the Middle East have increasingly been turning to the FOREX market," Vedikhin said. "Alpari aims to capitalize on this favorable situation by providing clients with a comprehensive suite of foreign exchange trading services."
"With our offering of a prime brokerage model combined with MetaTrader 4, one of world's most stable and reliable online forex trading platforms, our clients will benefit from low cost trading and best execution to make the most of their online forex trading experience," Vedikhin added.
The foreign exchange market is the largest market in the world, with $4 trillion trading hands every day; the forex market is estimated to be more than 3 times larger than the equities market and 5 times larger than the futures market.
"What we believe differentiates Alpari among foreign exchange services providers is our commitment to bringing institutional-level trading services to retail customers," commented Vedikhin. "Our mission is to ensure that our clients have an informed and responsible online forex trading experience through advanced and proprietary trading technology and dedicated customer service. With explicit trader support and education such as online tutorials or webinars with reputed partners like Learning Markets and Schneider Trading Associates, we constantly endeavour to set new standards. Furthermore, Alpari has also partnered with Trading Central to provide timely trading information, with daily, weekly and monthly FX reports, daily web TV reports, as well as real time trading signals. All of these services, as well as our online trading platform MetaTrader 4, will be available in Arabic for our customers in the Middle East."
"Dubai has become the world's fastest growing financial center and serves a vast region of 2.1 billion people with a combined economy worth $1.8 trillion in terms of GDP and an annual growth rate in excess of 5%. Our goal is to become a major financial player is this vibrant region and set Alpari Emirates as a center of excellence for professional consultancy in the emerging online trading markets," Vedikhin added.
Alpari (UK) Ltd is authorized and regulated by the Financial Services Authority (FSA Register number 448002). Alpari Emirates is duly licensed by the Department of Economic Development, Dubai (DED License number 615466).