Forex Deposits Kept Growing in Q3, Asian Accounts Most Active
- Data analysis from the Finance Magnates Quarterly Industry Report.
While markets slowed down for a summer break, traders weren't sleeping in Q3. Emerging FX markets surprised us, and countries in the Oceania region proved their position.
October confirmed the overall buildup in average monthly deposits that was seen in Q3 in the retail Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term industry, according to the latest analysis by the Finance Magnates Intelligence Department and CPattern. Since July the average value of deposits has remained above the $2,000 mark, touching $2,375 in October.[gptAdvertisement]
At the same time, deposit metrics for the binary options industry keep dropping. In October, the average monthly deposit value decreased to $436. The historic bottom was registered in June at $309. While we are still observing activity in the binary options industry, it is a merely a shadow of its former glory.
A closer look at the metrics reveals very high deposit values in the Oceania region. Traders from Australia deposited an average of $3241.3 in October. They were closely followed by New Zealand traders, with a figure of $2823.8. This could explain the increase in volumes recently registered by Australian brokers, which was presented by Finance Magnates in its newest report - QIR3 2017.
Interesting developments were observed in October in the first time deposit (FTD) segment. Turkey came first with an average FTD of $1,276.11. On one hand this seems logical as the low trading leverage in the country means that customers are forced to trade with more capital. On the other hand, Turkish regulations have been modified early this year and FTD growth was seen for the first time. Sign of a rebound?
The most active traders in October could be found in Malaysia. China was second, closely followed by Turkey. This set of data is interesting because while higher deposits can be expected when leverage is low, one would also expect lower activity from Turkish traders. South Africa had the lowest trader activity of the top 10 countries. Note that the countries with the most developed FX markets, such as the UK, US and Australia, do not feature.
The research and analysis work conducted for preparing this index was powered by the retention automation firm Cpattern.
This is the latest publication from the FM Traffic Indices – a new cross-industry benchmark. In today’s business world, big-data analysis and access to objective information sources are crucial to success. Unfortunately, until now it has been very difficult and costly, if possible at all, to find any reliable benchmarks for operations in social, FX, binary options and CFDs trading.
For this reason, the Finance Magnates Intelligence Department has launched a new project, creating a set of indices encompassing various aspects of the Online Trading Online Trading Online trading represents the trading of fiat currencies, digital currencies, commodities, stocks and indices, where traders and investors intend to make a profit, via the purchase or sale of the aforementioned products. This is done through an electronic network, made accessible by brokers in the form of an online trading platform or hub.Online trading continues to see a rapid growth year on year, due to a number of reasons. Firstly, the number of brokers offering their services, with more mone Online trading represents the trading of fiat currencies, digital currencies, commodities, stocks and indices, where traders and investors intend to make a profit, via the purchase or sale of the aforementioned products. This is done through an electronic network, made accessible by brokers in the form of an online trading platform or hub.Online trading continues to see a rapid growth year on year, due to a number of reasons. Firstly, the number of brokers offering their services, with more mone Read this Term industry. These indices will provide you with unique data points gathered by our analysts that will serve as a valuable knowledge base for your decision making.
While markets slowed down for a summer break, traders weren't sleeping in Q3. Emerging FX markets surprised us, and countries in the Oceania region proved their position.
October confirmed the overall buildup in average monthly deposits that was seen in Q3 in the retail Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term industry, according to the latest analysis by the Finance Magnates Intelligence Department and CPattern. Since July the average value of deposits has remained above the $2,000 mark, touching $2,375 in October.[gptAdvertisement]
At the same time, deposit metrics for the binary options industry keep dropping. In October, the average monthly deposit value decreased to $436. The historic bottom was registered in June at $309. While we are still observing activity in the binary options industry, it is a merely a shadow of its former glory.
A closer look at the metrics reveals very high deposit values in the Oceania region. Traders from Australia deposited an average of $3241.3 in October. They were closely followed by New Zealand traders, with a figure of $2823.8. This could explain the increase in volumes recently registered by Australian brokers, which was presented by Finance Magnates in its newest report - QIR3 2017.
Interesting developments were observed in October in the first time deposit (FTD) segment. Turkey came first with an average FTD of $1,276.11. On one hand this seems logical as the low trading leverage in the country means that customers are forced to trade with more capital. On the other hand, Turkish regulations have been modified early this year and FTD growth was seen for the first time. Sign of a rebound?
The most active traders in October could be found in Malaysia. China was second, closely followed by Turkey. This set of data is interesting because while higher deposits can be expected when leverage is low, one would also expect lower activity from Turkish traders. South Africa had the lowest trader activity of the top 10 countries. Note that the countries with the most developed FX markets, such as the UK, US and Australia, do not feature.
The research and analysis work conducted for preparing this index was powered by the retention automation firm Cpattern.
This is the latest publication from the FM Traffic Indices – a new cross-industry benchmark. In today’s business world, big-data analysis and access to objective information sources are crucial to success. Unfortunately, until now it has been very difficult and costly, if possible at all, to find any reliable benchmarks for operations in social, FX, binary options and CFDs trading.
For this reason, the Finance Magnates Intelligence Department has launched a new project, creating a set of indices encompassing various aspects of the Online Trading Online Trading Online trading represents the trading of fiat currencies, digital currencies, commodities, stocks and indices, where traders and investors intend to make a profit, via the purchase or sale of the aforementioned products. This is done through an electronic network, made accessible by brokers in the form of an online trading platform or hub.Online trading continues to see a rapid growth year on year, due to a number of reasons. Firstly, the number of brokers offering their services, with more mone Online trading represents the trading of fiat currencies, digital currencies, commodities, stocks and indices, where traders and investors intend to make a profit, via the purchase or sale of the aforementioned products. This is done through an electronic network, made accessible by brokers in the form of an online trading platform or hub.Online trading continues to see a rapid growth year on year, due to a number of reasons. Firstly, the number of brokers offering their services, with more mone Read this Term industry. These indices will provide you with unique data points gathered by our analysts that will serve as a valuable knowledge base for your decision making.