Alpari kicks off Indian operations

Alpari, a known provider of online foreign exchange (forex, FX) trading services formally launched its India operation. Alpari will be offering forex trading to Indian institutional and retail customers. Now Indian individual traders, fund managers and institutional customers will benefit from professional and innovative currency trading technology combined with quality execution, competitive spreads and margins. Alpari also provides expert and responsive customer support with a highly professional team.

Mr. Andrey Vedikhin, CEO of Alpari (UK) & Co-founder, Alpari said, “We believe that the Indian market offers healthy prospects for Alpari. India will be one of the first major global economies to emerge from today’s recession. India has a rapidly expanding middle class and a large technology and business-oriented population, which is hungry for online-trading solutions.”

“We already have many Indian clients and are confident that both our retail and institutional offerings will meet the expectations of the Indian Forex trading community. Alpari is delighted to shape and drive the Forex market in India,” added Mr. Vedikhin.

Mr. Pramit Brahmbhatt, CEO, Alpari India said, “Forex trading is a huge opportunity for the Indian Forex trading community. Our research shows that the Indian Forex market has grown rapidly in the recent years, presenting a great business opportunity for Alpari to offer its world-class services to Indian investors and traders. Alpari India will create a new investment medium, provide an institutional level trading experience for retail investors, present diversifying opportunities for the corporate at a lower cost and bring in opportunities to explore global currency and bullion markets for the Indian investors.”

“Indian investors are turning global after RBI’s LRS (Liberalised Remittance Scheme) for individual foreign investment by Indians. This has grown from $9.6 million in year 2004-05 to a sizeable figure of $440.50 million in year 2007-08. Of most interest is the fact that investment in the financial market alone was $144 million in 2007-08 (one third of the total investment abroad). At Alpari, we already have a sizeable base of Indian investors and are very happy to offer our services and support to their doorsteps. We have a long-term commitment towards the Indian investor community and are looking forward to undertaking a series of educational and research initiatives to complement their trading activities,” added Mr. Brahmbhatt.