DMM Markets FX Volumes in April Fall 9%, Lowest Since December 2012

The second largest FX broker by volume in Japan, DMM Markets has released its figures for the month of April and the results are no different from what we have seen in the past couple of days. A stiff drop by 9% to $469.3 billion (¥48.2 trillion) marks the third consecutive month of declines at the Japanese powerhouse.

After a stellar rise of 55% in January, the figures have embarked on a sharp reversal trend as Japanese yen trading has settled into tight ranges. The consolidation led to a back-to-back drop in volumes in February and March.

The figures come as no surprise as we have already seen substantially lower levels during the month from GMO Click. With the European side of business joining the party and Saxo Bank announcing their lowest number since they started publicising their figures in January 2013, it’s now up to the markets to decide whether May will be any better.

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