Financial and Business News

Analysis: June Brought Further Inflow of Deposits to FX Accounts

Monday, 06/09/2021 | 08:32 GMT by Sylwester Majewski
  • Last month showed retail FX investors putting more money in their accounts
Analysis: June Brought Further Inflow of Deposits to FX Accounts
Finance Magnates

After a good month in May, we once again observed the growing value of total monthly FX deposits right before the summer break started. The June data from cPattern has been examined by Finance Magnates Intelligence to reveal improvement to this section of industry statistics.

Forex deposits

First, data for single one-time deposits did not reveal any improvements. The value of an average deposit fell to a level of $2,184.01 from $2,312.17 seen in May. Also, data on single withdrawals were not impressive, decreasing to $2,554.18 from the level of $2,773.81. No recovery was observed for first-time deposits (FTD) either, which was equal to $2,564.27 compared to $2,641.40 registered in May.

FX Deposits Surprise

Surprisingly, total deposits for the whole month did see some improvement. In June, the value of monthly deposits grew to a level of $10,902 from $9,884. At the same time, it was the biggest value registered in 2021. Also, total monthly withdrawals from FX accounts grew to $5,337 from May’s $4,977. It will be interesting to see if this momentum is sustained in July and August.

Forex transactions

In the meantime, the trading activity of retail FX traders has already started to show some results from a typical summer slowdown. The average number of transactions per trader decreased in June to a level of 205.2 from 219.7 seen in May. It was no surprise who was the leader in this rank. Once again it was China where retail FX traders made the largest number of transactions per month.

Forex deposits and withdrawals

Finance Magnates Intelligence will be monitoring industry activity in the upcoming months. Stay tuned for more industry-related research or reach us directly for additional research requests.

After a good month in May, we once again observed the growing value of total monthly FX deposits right before the summer break started. The June data from cPattern has been examined by Finance Magnates Intelligence to reveal improvement to this section of industry statistics.

Forex deposits

First, data for single one-time deposits did not reveal any improvements. The value of an average deposit fell to a level of $2,184.01 from $2,312.17 seen in May. Also, data on single withdrawals were not impressive, decreasing to $2,554.18 from the level of $2,773.81. No recovery was observed for first-time deposits (FTD) either, which was equal to $2,564.27 compared to $2,641.40 registered in May.

FX Deposits Surprise

Surprisingly, total deposits for the whole month did see some improvement. In June, the value of monthly deposits grew to a level of $10,902 from $9,884. At the same time, it was the biggest value registered in 2021. Also, total monthly withdrawals from FX accounts grew to $5,337 from May’s $4,977. It will be interesting to see if this momentum is sustained in July and August.

Forex transactions

In the meantime, the trading activity of retail FX traders has already started to show some results from a typical summer slowdown. The average number of transactions per trader decreased in June to a level of 205.2 from 219.7 seen in May. It was no surprise who was the leader in this rank. Once again it was China where retail FX traders made the largest number of transactions per month.

Forex deposits and withdrawals

Finance Magnates Intelligence will be monitoring industry activity in the upcoming months. Stay tuned for more industry-related research or reach us directly for additional research requests.

Topics
Analysis
china
cpattern
fx
Retail Trading
deposits
withdrawal
transactions
June
About the Author: Sylwester Majewski
Sylwester Majewski
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Sylwester is a graduate of the Warsaw School of Economics, holding an MA in Finance and Banking. He currently serves as Head of the Insights & Reporting Hub at Finance Magnates. He is also a former minority partner in an NFA-registered US forex broker and has been involved in numerous forex and trading industry projects since 2003. Privately, Sylwester is a husband and father to a 7-year-old daughter, as well as an enthusiast of trading and Formula 1.

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