Tokyo-based DMM.com Ltd. has today reported trading volumes for the month of February, with total clients’ trading activity dropping 29% over January, from $771.1 billion to $547.2 billion in February.
This confirms the trend for February, so far, as several Japan-based online brokerages have reported a slower second month for the start of 2014, although DMM’s drop of nearly $223.9 billion seems to be both the largest drop month-over-month, both in terms of value as well as percentage change compared to others that have just reported figures today in Japan.
Forex Magnates last reported the firm’s prior month totals earlier in February, after FX volumes had been on the rise across many major dealers and retail Forex brokers around the world, including DMM.com’s prior increase of 55% over December, for its January’s total. In addition, February is under the firm’s rolling twelve monthly average of $669 billion.
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Earlier today in Japan, one of DMM’s main competitors, GMO Click Securities, said that lower volumes were thought to have been attributable to decreased volatility in the Japanese yen – which is a popularly traded currency for Japanese traders.
Nonetheless, DMM.com’s total for last month is still well off its nearly $1 trillion dollar record high from last July, as several Japanese FX providers reached that milestone monthly total.
Further analysis regarding DMM’s results was provided by Forex Magnates, following our initial publication. The Chart below, using monthly trading totals, depicts when DMM’s trading volumes pierced the $1 trillion dollar mark for its total monthly trading volume last June.