FOREX CLUB announces the acquisition of 100% stake of the oldest Russian FOREX broker «Akmos Trade»
Moscow - October 28th, 2010 - FOREX CLUB announced its acquisition of 100% stake of the oldest Russian FOREX broker «Akmos Trade». As a result of this acquisition, FOREX CLUB has increased its market share in the Russian-speaking market by 40%, earning the Company a position as the unconditional leader in Russia and CIS with high gap from competitors. In addition to growth, the acquisition of Akmos Trade will allow FOREX CLUB to expand their products and services.
The acquisition of 100% stake of Akmos Trade is a logical step in FOREX CLUB's expansion strategy. FOREX CLUB is planning to enter in a top-list of 5 world-leading companies of Internet-trading. The Company was able to achieve current global position by expanding their services, such as the 2010 release of ActTraderTM platform, starting work with Contracts for difference (CFD), constant global expansion (currently in Russian, English, Chinese and Portuguese speaking directions), and acquisitioning of companies that have strong positions in the local markets.
Besides increasing its market share of total number of Russian clients by 40% acquisition of Akmos Trade will expand FOREX CLUB range of products and services. FOREX CLUB traders will have an opportunity to trade with the popular MetaTrader4 platform, access investment accounts, work with the St. Petersburg Stock exchange (license FCSM №1173), and to have the deposits insurance.
Previously FOREX CLUB and Akmos Trade have been collaborating with one another since November 26th, 2008 with the purpose to create a comprehensive proposal for the clients of both companies. The Alliance was established through the exchange of shares of both companies.
Akmos Trade is the oldest FOREX broker in Russia (since 1995). The company has managed to win a good reputation among traders. FOREX CLUB Group of companies intends to keep the Akmos Trade brand, having included it in the FOREX CLUB Group structure.
"The acquisition of the oldest FOREX broker will not only allow us to expand company product lines and services and increase our market share but also this action reflects our strong intentions to build the leading international company of Internet trading," - said Viacheslav Taran, the Chairman of board of directors FOREX CLUB.
"FOREX CLUB Group of companies is the leader in the Russian-speaking retail FOREX market. The merger of Akmos Trade and FOREX CLUB will have a significant synergy effect for the further business development of the Group of companies and Russian Internet-trading industry as well," - declared Evgeny Sokolinsky, the President of Akmos Trade.
About the companies:
FOREX CLUB was founded in 1997 and is now the leader in Internet trading in Russia, and the CIS countries. FOREX CLUB provides effective access to Internet trading to a hundred thousand clients from more than 120 countries around world. The branches of FOREX CLUB are constantly expanding. Today, the company has more than 100 offices in 12 countries, including Russia, the CIS countries and Europe, the USA, Brazil, China and the EU countries.
FOREX CLUB has international awards: Forex Club became a leader in Europe by winning Best Forex Broker (Dow Jones Newswires), Best Educational FX Website, Best Trade Forex System (Forex Expo), Best Broker for Beginners (forex-ratings.com), among other awards. In 2007, FOREX CLUB's quality of client services was confirmed by the international certificate of quality under standard ISO 9001. In 2010, the American broker FOREX CLUB Financial Company was named 6th fastest growing financial branches in the U.S.A. by Inc. 500 (on materials www.fxclub.com). According to Inc. 500, FOREX CLUB Financial Company is one of the most fast-growing companies of the USA with rate of increase of incomes more than 2,456 % for last three years.
Akmos Trade was founded in 1995 and became the first Russian broker in the international currency market.
In 1998, Akmos Trade was the first company in Russia to offer its clients access to the forex market through the Internet. In 1999, Akmos Trade held the first trader competition, setting a trend that became highly popular in the international currency market.
In 2002, Akmos Trade became the first Russian broker that worked with streaming quotes. In 2003, it launched the first mobile trading terminal. In 2005, Akmos Trade obtained the License of exchange intermediary and became a market-maker in the "St.-Petersburg" Stock exchange.
In 2010, Akmos Trade introduced a new service that insured client deposits (to 100 thousand dollars), paid a percent for the deposit sum according to the national rate of refinancing, and is ready to discuss with the potential client the Contract on rendering of services. Akmos Trade is the only Russia company that delivers the CQG and DBC quotes.
The president of the company «Akmos Trade» - Evgeny Sokolinsky - is one of the key figures of FOREX retail market in Russia.
