One of Japan’s top-two largest retail Forex brokers by volume, DMM Securities, has just released its February 2015 volumes. The report shows disastrous month-on-month figures, breaking a six-month-in-a-row trend of growth for the broker.
The total client FX trading volume in February 2015 for DMM was an abysmal figure of just $850.8 billion (101,678 billion yen), down by about 35.4% from $1,316.2 billion the previous month. The figure is at least reassuring in a yearly comparison as it represents a 55.5% rise from February 2014, which itself saw a drop in volumes compared to the period before.
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Since August 2014 the volumes have only been rising thanks to the volatility in the popular YEN/USD currency pair caused by “Abenomics.” The SNB shock gave an additional jolt to trading volumes in January that now receded.
Rival Japanese brokerage GMO CLICK Securities has reported similar negative monthly metrics in February 2015, showing a drop of about 20%. However, GMO CLICK’s figures surpassed those of DMM in February 2015 with $962 billion, winning back the title of the number one retail FX broker in Japan from DMM. Japanese rival Monex Group also saw volumes drop 37%.