GMO Click Reports MoM and YoY Uptick in FX Trading in August
The monthly volumes for August keep on coming, with Japanese securities brokerage GMO Click being one of the most recent companies to publish its figures. Unlike many other market participants, the broker actually saw an uptick in foreign exchange (forex) trading.
Via FX Neo, the monthly trading value for over the counter forex margin was ¥120.3 trillion for the month of August. This is stronger by 14.6 per cent when measured against the previous month which recorded a monthly trading value of ¥105.0 trillion.
The Most Diverse Audience to Date at FMLS 2020 – Where Finance Meets Innovation
GMO Click bucks the trend
Not only is the monthly trading value recorded in August stronger than the previous month, but it is also up on a yearly scale. Specifically, the trading value has increased by approximately 42.0 per cent, up from ¥84.8 trillion.
Throughout the month, GMO Click opened 3,359 more accounts on FX Neo, bringing the total number of accounts up to 689,394. Month on month, this is a growth of about 0.5 per cent.
Volumes fall on Click 365
Taking a look at exchange margin trading through Click 365, the broker has not performed as well in August. By the end of the month, the monthly trading volume was 285,928 contracts. This is less than the 309,606 contracts traded in July by 7.6 per cent.
Year on year, the decline in trading volume is even more pronounced, as August of 2019 had a monthly volume of 624,029 contracts. Therefore, volumes have fallen by 54.2 per cent from August of 2019, to last month.
Stock trading on GMO Click also dropped in August, falling from 913,304 contracts in July down to 881,641 contracts last month. The monthly trading value was ¥951.2 million. This is slightly lower than July, by 0.2 per cent.
During the most recent month, the average number of contracts traded per day was 44,082. The number of securities trading accounts increased by 0.5 per cent month on month.
Source: Read Full Article