For foreign exchange (forex) volumes, June has historically been a slow month, kicking off the summer lull for trading providers. However, during these unique COVID-19 times, June has seen a resurgence in volumes for many brokers, and GMO Click appears to be no exception.
According to data sent to Finance Magnates this Friday, GMO Click has reported a total over the counter (OTC) foreign exchange (forex) margin trading volume of $1.23 trillion for the month of June.
As Finance Magnates reported, in March of this year, when volatility driven by the coronavirus pandemic was at its peak, the Japanese retail broker saw its trading volumes reach $1.85 trillion – a historical record for the broker.
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Although June’s trading volume hasn’t reached what was achieved in March, the volumes reported today is still higher than April’s volume of $1.06 trillion and May’s trading volume of $903.4 billion, as lessening volatility weighed on volumes.
Besides March, the OTX FX margin trading volume noted in June is the best monthly result since January of 2017. On a yearly comparison, last month’s volume has more than doubled, as June of 2019 posted a monthly volume of $544.4 billion. This translates to a growth of 126.5 per cent.
GMO Click reports solid on-exchange trading volumes
Taking a look at on-exchange trading volumes, June has yet again proven to be a good month from GMO Click, with the retail broker recording a monthly volume of $3.4 billion. This represents an increase of 21.4 per cent from the $2.8 billion achieved in the previous month.
Not only is June’s on-exchange trading volume the second strongest volume achieved in 2020, tied in second place with February and behind March’s record volume of $8.5 billion, it has also increased by 41.7 per cent from the $2.4 billion recorded in June of 2019.