With a 400-million euro deal size per month, and a startup capital of 3 million euros, X-Trade Brokers is set to storm the Romanian market. The broker comes with an online forex trading platform, CFDs, commodities and stocks, without any trading fee, and will organize seminars for clients across the country.
Target for 2009: Monthly deal size, 400 million euros
The Polish broker, that holds subsidiaries in seven European countries, has been officially launched yesterday in Romania. Its core business target is a minimum monthly deal size of 400 million euros by yearend, after a 3 million euros initial investment, said Victor Safta (photo), managing director of X-Trade Brokers Romania.
As for earnings, he said the company aims at achieving the profitability threshold this year.
The company provides trading services for various vehicles via two online platforms on international Forex market, commodities, and stocks. Furthermore, investors can trade CFDs (Contracts for Difference) for currency pairs, commodities, stocks or indices of all large stock markets of the world.
The lion’s share of investment will be used in organizing chargeless seminars for clients. “We have identified a narrow expertise in Romanian financial field, and this is why we intend to organize seminars, in order to ‘train’ the market”, Safta explained.
Furthermore, the company plans to draw Romanian importers and exporters to minimize the currency exchange risk through currency-pair CFD deals, this practice being very popular in Europe. “As of January, we have three Romanian importers who adopt three month-positions for euro-leu pair”, said the director of X-Trade Brokers.
The representative of the company said they would put off their entry in the BSE arena due to the shaky market conditions, as the extremely low flows are not even covering the costs.
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