Hotspot FX was almost back to peak February 2013 levels in April after gaining 12% MoM reaching $29.5 billion in Average Daily Volume. Most brokers, especially retail ones, reported large gains in April which was another favorable month for the beaten forex industry.
FXAll and Reuters reported stable volumes while ICAP’s EBS reported a 7% increase. Japanese retail broker GMO Click Securities reported $42.2 billion daily volume in April which puts it well above HotspotFX but still quite below institutional industry giants such as EBS who are averaging about $130 billion per day. Second largest broker DMM Securities posted $34.6 billion daily volume with ‘western’ leader FXCM reaching $25 billion daily volume (retail and institutional combined). This goes to show that the difference between retail and institutional is narrowing as ‘retail’ brokers are topping some institutional ones and are even getting close to industry household names – something unheard of only few years ago.
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