Alpari launches forex trading platform in India

Foreign exchange trading services provider, Alpari today launched its Indian operations by offering its forex trading platform for institutional and retail customers.        

The company, which will initially operate from Mumbai, has targeted to acquire at least 1,000 clients in the next six months, Alpari's Head of Global Sales, Andreas Wigstrom told reporters here.        

"Alpari India will create a new investment medium, provide an institution level trading experience for retail investors and present hedging opportunities for the corporates at a lower cost," Wigstrom said.        

Indian forex market has grown from $2 billion in April 1998 to over $34 billion by April 2007 and is expected to grow at a faster pace in the period ahead, he said.        

Globally, forex market has a daily turn over of $3.8 trillion currently, which is expected to surpass $5 trillion by 2010, Wigstrom said.

Alpari has targeted an annual volume in excess of $3.5 billion in the retail investor segment and plans to open new offices in Japan, Singapore, Hong Kong, Germany, France, Canada, British Columbia, Brazil and Mexico in the coming days, he said.        

The company has also plans to offer free training to customers to help investors make informed and responsible trading decisions.        

At present, Alpari group has 26 offices in seven countries and has around 300 employees worldwide.