Armada Markets, a leading spot Forex and spot metals ECN broker in Northern Europe introduced the Chinese yuan (USD/CNH) and the Russian ruble (USD/RUB) currency pairs to its MetaTader 4 platform. This makes Armada Markets one of the first spot Forex brokers in Northern Europe to launch trading in the Chinese yuan and the Russian ruble.
The demand for the new products has come primarily from Asia and Eastern Europe where the company is one of the fastest growing spot Forex brokers. With the trading volumes reaching 15 billion USD a month the company has seen its client base expand to over 135 countries.
The recent political tensions between Russia and the Ukraine over the status of Crimea have introduced a lot of volatility to the Russian ruble and the currency markets in general. The same has happened with the Chinese yuan which is pressured by the slowing economy and the first signs of an emerging liquidity crisis. The higher volatility and also the ambitions of both the Russian and the Chinese governments to promote their national currencies as alternative reserve currencies to US dollar has resulted in a significant increase of interest from the trading community.
Ingmar Mattus, Armada Markets CEO said: “We are pleased to launch trading in the Russian ruble and the Chinese Yuan and I believe this offering will be very attractive to our global client base, especially in Russia, China and in countries which do a lot of export-import with them”.
Illimar Mattus, Armada Markets CFO said: “We are really excited about the pace of our development in 2014. Just this week we introduced our new responsive homepage and launched the new currency pairs. To facilitate our growing Asia-Pacific client base we have set up also new trading servers in Hong Kong. One of the major plans for Armada Markets group over the next couple of months will be the launch of trading in commodity and index CFDs through our soon to be disclosed newly regulated entities in two global financial centers.”