Forex dealers in Russia earned more than 1 billion rubles in 2020 

19-04-2021

Licensed forex dealers in Russia showed record profitability results in 2020. On April 19 the companies operating on the currency market published their financial reports for the last year. The total annual revenue of all forex dealers exceeded 1 billion rubles. 

Top three leaders

All of the companies listed below are licensed and regulated by the Central Bank of Russia. This explains the favorability of traders to such forex dealers. So, the top three in terms of financial results for 2020 are:

  1. Alfa-Forex. The broker, which is part of Alfa Group, showed record results among Russian forex dealers. The company managed to exceed last year’s figures by almost 10 times. Alfa-Forex earned about 397 million rubles in 2020.
  2. VTB Capital Forex. The broker has a large client base and many active traders. In 2020, the company has shown that it can remain profitable even during the crisis, which many businesses are now feeling because of the pandemic. The amount of revenue in the last annual report almost reached 112 million rubles. In 2019, the figure was 44 million rubles.
  3. Finam Forex. The company’s net profit for last year is about 17 million rubles. However, this result is lower than in 2019 (28 million rubles), so the broker should pay more attention to profitability. 

The cumulative income of the three leading brokers in 2020 was about 527 million rubles, compared with 65 million in 2019. Thus, we can conclude that the pandemic has increased the interest of traders in the foreign exchange market. Now forex dealers need to work hard in order to exceed the achieved result in the next reporting period.

Share article with friends


Technical Analysis

UP