GMO Click Sees MoM Uptick in OTC FX Trading in January

As we venture further into the second month of 2020, trading providers are publishing their trading volumes for January. One of the latest firms to do so is GMO Click, which has achieved a positive start to the new year.

GMO Click is the retail brokerage unit of the Japanese IT giant GMO Internet. Overall, 2019 posed a difficult year for brokers in terms of trading volumes, with low market volatility weighing heavily on the market.

Because of this, the second part of the year saw many online trading providers posting weak performances, with September and November delivering particularly lackluster trading volumes.

GMO Click saw consistent drop in 2019 trading

For GMO Click, the broker consistently reported a drop in OTC Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term trading volumes from June of 2019, all the way to November of last year.

For January, the foreign exchange (forex) over the counter (OTC) volumes were provided to Finance Magnates from GMO Click itself. During the month, the retail broker reported a total volume of $568.2 billion.

This is higher than the trading volume of $486.8 billion reported in December of 2019 by 16.7 percent. Although trading was up on a monthly comparison, last month’s volume was lower on a yearly comparison, as trading in January of 2019 was $783.3 billion. Therefore, OTC Forex Trading Forex Trading Forex trading is the buying and selling of foreign currencies with the aim of generating a profit. The value of currencies, especially floating currencies, fluctuate to varying degrees. This constant volatility of exchange rates opens the door for speculators to invest in a certain currency against another. The Forex market is the world’s biggest and most liquid market, with over $5 billion turnover every single day, with the market being open 24 hours a day, 5 days a week.It goes without saying Forex trading is the buying and selling of foreign currencies with the aim of generating a profit. The value of currencies, especially floating currencies, fluctuate to varying degrees. This constant volatility of exchange rates opens the door for speculators to invest in a certain currency against another. The Forex market is the world’s biggest and most liquid market, with over $5 billion turnover every single day, with the market being open 24 hours a day, 5 days a week.It goes without saying Read this Term fell by 27.5 percent in January 2020.

Taking a look at on-exchange trading, GMO Click reported a monthly trading volume of $2.7 billion. This also represents an increase of 8.0 percent from the $2.5 billion volume achieved by the broker in the previous month.

As was the same with OTC forex trading, although volumes increased on a monthly comparison, trading activity fell year-on-year. In this case, because January of 2019 posted a $3.9 billion trading volume, last month’s figure has declined by around 30.8 percent.