The industry-wide pandemic of waning monthly metrics by Forex brokers continued today with the release of GMO Click’s May volumes, showing a -12.6% fall MoM in FX volumes to $530 billion (¥54.38 trillion), according to a GMO Click statement.
These weak figures by GMO Click come on the heels of a lackluster April, which already fell by double-digit figures (-10.0 MoM). Volume metrics at the company’s retail platform FXNeo were lower by -12.6% since April, totaling just $530 billion (¥54.38 trillion) in May vs. $606 billion (¥62.2 trillion) in April. In addition, this also represents the lowest volumes reported by the company thus far since January, falling -34.3% YTD. This trend in regards to FX is hardly relegated to just GMO Click however, as similar weak results were seen across the Tokyo Financial Exchange and Monex Group as of late.
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Despite the lackluster May volumes, the GMO Click’s exchange traded business, Click 365 rose marginally higher to $3.0 billion (¥308.9 billion) in May from $2.93 billion (¥301.0 billion), which bounced off record lows last month.