GMO Click Reports Weak FX OTC Volumes in November

The retail brokerage unit of the Japanese IT giant GMO Internet, GMO Click, has released its over-the-counter (OTC) foreign exchange (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) trading volumes for the month of November this Wednesday.

The volumes were provided to Finance Magnates from GMO Click itself. The data shows that the Japanese broker has seen a drastic drop in trading, which echoes the results published by other brokers and trading providers.

As Finance Magnates reported, forex volumes were lower at Euronext, Cboe, and FXSpotStream for the month of November. CME Group also reported a drop in Forex Trading Forex Trading Forex trading is the buying and selling of foreign currencies with the aim of generating a profit. The value of currencies, especially floating currencies, fluctuate to varying degrees. This constant volatility of exchange rates opens the door for speculators to invest in a certain currency against another. The Forex market is the world’s biggest and most liquid market, with over $5 billion turnover every single day, with the market being open 24 hours a day, 5 days a week.It goes without saying Forex trading is the buying and selling of foreign currencies with the aim of generating a profit. The value of currencies, especially floating currencies, fluctuate to varying degrees. This constant volatility of exchange rates opens the door for speculators to invest in a certain currency against another. The Forex market is the world’s biggest and most liquid market, with over $5 billion turnover every single day, with the market being open 24 hours a day, 5 days a week.It goes without saying Read this Term.

During November, GMO Click achieved a total volume of $465.2 billion for OTC forex trading. This is significantly less than the $646.5 billion that the broker reported for the previous month. In fact, last month’s figure has fallen by 28.0 percent month-on-month.

The trading volume achieved in November is the lowest monthly figure posted by the firm so far this year. The next lowest volume was achieved in February, the shortest month of the year, which had a trading volume of $477.2 billion.

Last month’s trading volume hasn’t just declined on a monthly comparison. It is also lower when measuring it against the same period of the previous year. In particular, because November of 2018 had a trading volume of $602.2 billion, November of 2019’s result is lower by 22.7 percent.

2019 proves a difficult year for brokers

November’s volumes follow an overall difficult year for trading providers in the forex space. Despite January providing a solid start to 2019, many firms have reported weak results for multiple months of this year.

Taking a look at on-exchange trading, GMO Click reported a monthly trading volume of $1.9 billion. This also represents a drop of 17.4 percent from the $2.3 billion volume achieved by the broker in October.