For foreign exchange (forex) volumes, June has historically been a slow month, kicking off the summer lull for trading providers. However, during these unique COVID-19 times, June has seen a resurgence in volumes for many brokers, and GMO Click appears to be no exception.
According to data sent to Finance Magnates this Friday, GMO Click has reported a total over the counter (OTC) foreign exchange (forex) margin trading volume of $1.23 trillion for the month of June.
As , in March of this year, when volatility driven by the coronavirus pandemic was at its peak, the Japanese retail broker saw its trading volumes reach $1.85 trillion – a historical record for the broker.
Although June’s trading volume hasn’t reached what was achieved in March, the volumes reported today is still higher than April’s volume of $1.06 trillion and of $903.4 billion, as lessening volatility weighed on volumes.
Besides March, the OTX FX margin trading volume noted in June is the best monthly result since January of 2017. On a yearly comparison, last month’s volume has more than doubled, as June of 2019 posted a monthly volume of $544.4 billion. This translates to a growth of 126.5 per cent.
GMO Click reports solid on-exchange trading volumes
Taking a look at on-exchange trading volumes, June has yet again proven to be a good month from GMO Click, with the retail broker recording a monthly volume of $3.4 billion. This represents an increase of 21.4 per cent from the $2.8 billion achieved in the previous month.
Not only is June’s on-exchange trading volume the second strongest volume achieved in 2020, tied in second place with February and behind March’s record volume of $8.5 billion, it has also increased by 41.7 per cent from the $2.4 billion recorded in June of 2019.
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