Editorial & Advertiser disclosure

Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

Trading

ARMADA MARKETS LAUNCHES CHINESE YUAN AND RUSSIAN RUBLE TRADING

Published by Gbaf News

Posted on April 2, 2014

Featured image for article about Trading

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.

Armada Markets Shanghai

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.”