After going against the market trend in February and recording a drop in the in-store monthly foreign exchange (forex) trading value, it appears that Kabu has managed to right its course in March and achieve solid business metrics for the month, in line with the majority of other trading providers.
As Finance Magnates has reported, over the past 24 hours, exchanges, brokerages and trading platforms across the world have reported a solid boost in forex trading volumes, with some trading providers, such as Integral and Cboe’s spot FX platform achieving the best monthly volumes on record.
These historical volumes are, in large part, thanks to the coronavirus pandemic, which has brought back volatility into the trading markets. This has led to many brokers across the world seeing a boost in their operations, as traders look to profit off the volatility. So how did Kabu perform during the month of March?
Kabu FX trading increased by 55.3%
According to the figures seen by Finance Magnates, the total in-store monthly FX trading value for March was ¥5.10 trillion, which represents a solid increase from the previous month, which had an FX trading value of ¥3.29 trillion. Therefore, the value increased by 55.3 percent month-on-month. It is also the strongest value achieved this year.
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The monthly trading value of stocks also managed a solid uptick during the month, coming in at ¥3.24 trillion. This is also significantly higher than the previous month, having increased by 57.3 percent.
The futures monthly trading value in March, in line with the trend, also achieved a healthy monthly growth, rising by 39.5 percent from ¥4.65 trillion in February up to ¥6.49 trillion last month.
In March, Kabu also opened 6,520 new securities accounts, bringing the total accounts to 1,151,544. The number of newly opened accounts also increased by 3,268 to hit 7,053 accounts.