February has proven to be a profitable month for yet another broker, with GMO Click reporting solid trading volumes during the month, joining a growing list of trading providers to have seen robust trading last month.
GMO Click is the retail brokerage unit of the Japanese IT giant GMO Internet. During February, over the counter (OTC) foreign exchange (forex) margin trading, which is executed through FX Neo, saw an uptick on monthly comparison.
In particular, the monthly trading value for OTC FX margin was ¥75.3 trillion ($701.5 billion). This is higher than the monthly trading value achieved in the previous month, which had a monthly trading value of ¥59.3 trillion, by 27.0 percent.
Last month’s trading value has not only increased on a monthly perspective, but it has also risen on a yearly comparison. In particular, February of 2020’s FX trading value is up by 49.3 percent year-on-year.
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During the month of February, the number of FX Neo accounts increased by 4,422 accounts, rising from 654,625 accounts in January up to 659,047 accounts by the end of the month. This represents a growth of around 0.7 percent.
GMO Click exchange margin trading rises
Taking a look at exchange margin trading through Click 365, the monthly transaction volume for February of 2020 was 453,332 contracts. When measuring this against the previous month, which had a monthly transaction volume of 359,585 contracts, last month’s figure has grown by 26.1 percent.
As was the case with OTC FX margin trading, the monthly transaction volume for exchange margin trading has managed to rise year-on-year. Specifically, February of 2020 has seen an annual uptick in the monthly transaction volume of 30.9 percent.
The number of Click 365 accounts was also higher in February, having increased from 550,058 accounts in the first month of 2020 up to 554,704 accounts in February.