Following on from a disappointing performance in February, GMO Click, a retail broker in Japan, has released its trading volumes for the month of March 2019, showing a slight improvement.
Although March did manage to recover from February’s losses, foreign exchange (forex) trading volumes are still not at the same level as that achieved at the beginning of this year in January.
Taking a look at FX NEO, where GMO Click customers can perform over-the-counter foreign exchange margin trading, the monthly turnover for March of 2019 was ¥618.6 billion. When measured against the previous month, which had a monthly turnover of ¥504.3 billion, this is higher by 22.6 percent.
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While higher on a monthly comparison, March of 2019’s result is significantly less than that achieved in the same month of the previous year. Specifically, in March 2018, the broker recorded a monthly turnover of ¥942.7 billion, which is 34.4 percent more than last month.
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The increase in monthly turnover was aided by an increase in the number of FX Neo accounts. During the month 6,586 additional accounts were added, bringing the total to 598,758. However, more accounts don’t necessarily mean trading volumes will be higher, as February clearly showcased.
Moving onto Click 365, which facilitates exchange FX margin trading, March’s volumes were also up from February of 2019. During the month, the monthly transaction volume was 508,264 contracts. This is up from February’s results by 161,970 contracts or 46.8 percent.
However, March’s volume is still lower than that reported in January, which was 569,003 contracts. When measured against March of 2018, last month’s figure has fallen by 19.3 percent.
Throughout the month, GMO Click managed to onboard an extra 6,922 accounts to its 365 Click platform, which represents an increase of 1.4 percent. This brings the total number of accounts to 493,947.