Armada Markets, a global spot Forex broker reported a record monthly trading volume of $23.3 billion in October and a net profit of $0.68 million in Q3 2014. The Company estimates to reach a net profit of $2.4 – $2.7 million for the 2014 financial year.
Armada Markets reported a record $23.3 billion trading volume for October which is 103% higher compared to October 2013 and 14% higher compared to the previous month. The Company sees the growth being supported by continued elevated volatility on all financial markets and strong growth in client numbers from the Asia Pacific region. Armada Markets also continues to show strong profitability with Q3 net profit coming in at $0.68 million on top of $1.10 million earned in H1 of 2014. The Company expects the annual 2014 net profit to reach $2.4 – $2.7 million.
The Company also shed some light on the mix of Clients reporting that in October 2014 its top 100 Clients accounted for 64.9% of the total trading volume whereas the most active Client accounted for 3.3% of total trading volume. Armada Markets has mostly attracted smart retail and institutional Clients who demand very low spreads, low commissions and a trading environment with fast execution and no broker-imposed restrictions on profitability. The Company calls its Clients “Smart Traders”.