Analysis: First Month of Q2 of 2021 Brought a Decline in Key Forex Metrics
- Forex traders are still looking for more investment opportunities.
After a very volatile end to last year, key metrics related to customer activity have kept falling. Both March and April brought further declines in deposits and withdrawals made by retail 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 traders. Finance Magnates Intelligence looks into the latest data from cPattern.
The biggest decline in recent months was observed in the case of the average deposit size. Its value decreased from $2,673 in February to $1,896 in April, making it the lowest reading in the last twelve months. At the same time, the size of the average withdrawal decreased from $2,550 to $2,112. Also, the size of the average first-time deposit was lower too.
All of the above suggest less commitment from traders. However, data on their trading activity remains more or less the same. While the average number of transactions for a single trader in the top 10 countries was 215 in February, in April it was 226.
Deposits and Withdrawals Made by Retail Forex Traders
Where has traders money gone? According to our data, the biggest inflow of capital was seen in the United Arab Emirates. Retail traders from this country on average sent $11,029 each to their trading accounts in April. Second, was another country from the Middle East region, Bahrain with an average of $8,986. The average monthly inflow to the account for the top 10 countries was $8,107.
April’s average was lower than the $9,729 we saw in March. However, an average monthly outflow from a single account in the top 10 countries was higher in April than it was in March. This time it was $4,555, compared to the previous figure of $4,042.
After a very volatile end to last year, key metrics related to customer activity have kept falling. Both March and April brought further declines in deposits and withdrawals made by retail 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 traders. Finance Magnates Intelligence looks into the latest data from cPattern.
The biggest decline in recent months was observed in the case of the average deposit size. Its value decreased from $2,673 in February to $1,896 in April, making it the lowest reading in the last twelve months. At the same time, the size of the average withdrawal decreased from $2,550 to $2,112. Also, the size of the average first-time deposit was lower too.
All of the above suggest less commitment from traders. However, data on their trading activity remains more or less the same. While the average number of transactions for a single trader in the top 10 countries was 215 in February, in April it was 226.
Deposits and Withdrawals Made by Retail Forex Traders
Where has traders money gone? According to our data, the biggest inflow of capital was seen in the United Arab Emirates. Retail traders from this country on average sent $11,029 each to their trading accounts in April. Second, was another country from the Middle East region, Bahrain with an average of $8,986. The average monthly inflow to the account for the top 10 countries was $8,107.
April’s average was lower than the $9,729 we saw in March. However, an average monthly outflow from a single account in the top 10 countries was higher in April than it was in March. This time it was $4,555, compared to the previous figure of $4,042.