GMO Click, a Japanese forex broker, has published its monthly trading volume, showing a correction in the demand for foreign exchanges among traders.
For July 2020, the FX Neo platform recorded a total exchange volume of 105 trillion yen in foreign currencies, compared to 124 trillion yen in total volume in the – a decline of over 15.3 percent month-over-month.
The platform hit its when trading activities all across surged significantly, and it recorded 189 trillion yen in volumes. Since then, however, the volumes dropped sharply only with a monthly surge of 36 percent in June.
Despite the sharp drop in July volume, the figure is still bullish when compared with the reported figure from the same month a year earlier. In July 2019, the total over-the-counter (OTC) forex margin trading volume on the platform was only 52 trillion, meaning it surged almost 102 percent in a year.
Meanwhile, the number of accounts on the platform regularly maintained an uprise, and last month it added 3,455 new traders.
A similar trend for on-exchange trades
Coming to the on-exchange trading volume, the broker is witnessing a sharp decrease of 32 percent month-over-month in July.
The trend almost followed the over-the-counter market, however, the uptick in June remained marginal.
If compared with the peak volume in March, the volume dropped over 72 percent. Notably, the exchange’s peak in March was due to the surge in demand due to the increased market volatility.
In fact, the last March’s on GMO Click is the highest on the platform at least since mid-2014.
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