Once again Japanese DMM Securities topped the rankings of the biggest retail forex brokers in terms of the number of opened accounts. For the first time, the barrier of 700,000 accounts has been broken, Finance Magnates Intelligence data reveals. With a result of 707,730 accounts, DMM Securities left its competitors far behind.
In 2018 we saw further growth of the Japanese retail forex market. When we talk about the global retail FX scene, we must remember, that the Japanese market is the biggest in the world. The country’s brokers once generated up to 50 percent of the global retail turnover. In 2018, this ratio was closer to 35-38 percent of the global volume, which is still impressive.
When we talk about the number of forex accounts, it is worth noticing that for another year in a row DMM Securities broke through a vital barrier. In 2017 it was the first broker to pass the 600,000 opened accounts mark. And in 2018, it became the first broker to have 700,000 accounts.
Sustaining the lead for 2019 too?
However, reaching the 800,000 mark in 2019 would be a big surprise. In recent years, the annual client base growth of DMM Securities was not larger than 85,000 accounts, so expectations of a result ‘near 800,000’ are more realistic than surpassing that number. However, the chances that DMM Securities will take the 1st position for yet another year are very realistic.
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DMM Securities is not only present in the retail forex sphere but was also active in the cryptocurrency arena. In January, Japanese news outlets reported that DMM.com was exiting the crypto industry and was closing down its mining business in Kanazawa, Japan.
DMM.com originally announced the establishment of its virtual currency unit in September 2017 and later began its mining operations in the city of Kanazawa in October 2018, where the company mined multiple cryptocurrencies until shutting its operations.
To get the bigger-picture perspective on the Japanese brokers and the global retail FX industry in general, purchase our latest Quarterly Industry Report.