Tokyo Headquartered Monex Group, has published positive trading volumes for August 2013. The group of companies that include Tradestation and IBFX saw a 33% spike in trading activity from a year earlier. This reinforces the positive sentiment among traders compared to a bleak 2012. Monthly volumes have been comparatively low, with the firm seeing a 1% drop from July metrics. In August, total FX volume for the month stood at $50.8 billion, reflecting an average daily trade value of $2.3 billion. In July, the firm recorded total monthly volumes of $54.9 billion, $2.5 billion in average daily volumes.
Monex Group has mixed volumetric data for 2013. Out of the eight months, the firm has fared well in half of them, with four months witnessing total volumes in excess of 70 billion US dollars. April 2013 has been the best performing month this year where the firm reported $79.9 billion in trading volume for the month. On the other hand, the firm went into a three-month span of sub $40 billion volumes between August and October.
7 Pharma Stocks from EuropeFX You Need to Know for a Covid-19 VaccineGo to article >>
Monex Group was one of the first Japanese brokers to expand out of its home market. Japan is the most established and largest single FX market in the world however, since regulatory changes put pressure on trading conditions for Japanese traders, brokers have been exploring their options. Hirose established a UK office and brokers such as Invast and GMO Click have established overseas offices in Hong Kong and Australia respectively.
Monex Group was the first Japanese broker to launch the worlds first open trading platform. Japan is the home for technology, according to an industry survey by eMarketer in 2013 there are 100 million people who use the internet and 24 million who own smart phones.
TheGroup’s share price is trading at 40,200 in Tokyo.