After a welcome uptick in foreign exchange (forex) trading in May, the retail brokerage unit of Japanese IT giant GMO Internet, GMO Click, has yet again reported a drop in volumes for the month of June.
As , May brought signs of life back into GMO Click’s FX trading volumes. So far this year, volumes have been lacklustre and this was particularly .
However, it appears the June is not continuing on from May’s recovery. Taking a look at FX Neo, where clients trade over-the-counter foreign exchange margin, although the number of accounts increased, the monthly turnover fell.
Specifically, the number of accounts increased by 6,010 during the month, but monthly turnover for June 2019 fell by 10.1 per cent from ¥615.51 billion ($5.7 billion) in May down to ¥553.3 billion. Nonetheless, June’s value is the third strongest achieved so far this year – behind January and May.
When weighing this against the same month of the previous year – June 2018 – the decline is more pronounced. In fact, last year, June noted a turnover of ¥743.1 billion, meaning last month’s value is lower by 25.5 per cent.
FX Margin Trading Drops on Click 365
On Click 365, which facilitates on-exchange forex margin trading, the volumes follow a similar pattern, ie., they have fallen on a month-on-month comparison despite an uptick in the number of accounts.
During the month of June, the number of accounts increased by 6,287 to reach 513,957 total accounts. The monthly transaction volume, however, did not increase. Instead, it fell by 23.5 per cent, falling from 463,951 contracts in May down to 354,811 contracts in June.
The transaction volume for June is the second lowest value achieved this year, behind February. When measuring June’s value on a year-on-year comparison, it is down by 31.6 per cent as 518,489 contracts were traded in June 2018.
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