Last August we reported that DMM Securities had acquired Gaitame Japan. Subsequently, DMM reported $161 billion in monthly volumes for August. The acquisition proved well timed, as a it caught a period of depressed interest in Japanese FX trading. Since that time, thanks to renewed volatility in the yen, overall volumes from the country have exploded. Nowhere is this being seen like at DMM Securities.
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The broker has just announced a record in monthly volumes, with $761 billion traded during April. More than just setting a record, volumes have grown by $600 billion since last August, nearly 5X growth. The figures have led DMM Securities to become the second largest retail forex broker by volume, following only fellow Japanese firm GMO Click Securities. When asked about the record volumes, a spokesperson from DMM told Forex Magnates, that existing traders are trading more, as a result of the volatility.