The Upside of COVID-19, GMO Click Sees Record March FX Volumes
- The broker recorded the best volumes since at least mid-2014.
Although the coronavirus pandemic has created many challenges, one positive the virus has caused is an increase in volatility, which has seen trading providers, such as GMO Click, report a significant increase in trading volumes for March.
As Finance Magnates reported, GMO Click achieved a healthy uptick in trading volumes in February. In fact, the Japanese retail broker posted a 27 percent monthly growth in 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) margin trading volumes.
March, however, has seen volumes explode from GMO Click. Specifically, data published this Friday shows the broker achieved a trading volume of almost $1.84 trillion. This represents a significant increase from the previous month, which achieved a trading volume of $728 billion, of 152.2 percent.
On a yearly scale, the growth is even more pronounced, as March of 2019 had an OTC FX margin trading volume of $607 billion. Therefore, last month's volumes have posted a strong uptick of 202.9 percent year-on-year.
In fact, according to the data provided by GMO Click to Finance Magnates, the trading volume recorded in March of 2020 is the best monthly result seen by the broker since at least mid-2014.
GMO Click on-exchange volumes soar
Taking a look at on-exchange 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, the Japanese retail broker has again posted solid results for March, coming in at $8.5 billion. When measuring this against the previous month, which had a monthly volume of $3.4 billion, it has increased by 150 percent.
As was the same with the Japanese broker's OTC volumes, on-exchange trading also increased on a yearly comparison, rising by 165.6 percent from $3.2 billion in March of 2019 to hit $8.5 billion. Furthermore, it appears that March's result is also the best the broker has achieved since at least 2014.
Although the coronavirus pandemic has created many challenges, one positive the virus has caused is an increase in volatility, which has seen trading providers, such as GMO Click, report a significant increase in trading volumes for March.
As Finance Magnates reported, GMO Click achieved a healthy uptick in trading volumes in February. In fact, the Japanese retail broker posted a 27 percent monthly growth in 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) margin trading volumes.
March, however, has seen volumes explode from GMO Click. Specifically, data published this Friday shows the broker achieved a trading volume of almost $1.84 trillion. This represents a significant increase from the previous month, which achieved a trading volume of $728 billion, of 152.2 percent.
On a yearly scale, the growth is even more pronounced, as March of 2019 had an OTC FX margin trading volume of $607 billion. Therefore, last month's volumes have posted a strong uptick of 202.9 percent year-on-year.
In fact, according to the data provided by GMO Click to Finance Magnates, the trading volume recorded in March of 2020 is the best monthly result seen by the broker since at least mid-2014.
GMO Click on-exchange volumes soar
Taking a look at on-exchange 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, the Japanese retail broker has again posted solid results for March, coming in at $8.5 billion. When measuring this against the previous month, which had a monthly volume of $3.4 billion, it has increased by 150 percent.
As was the same with the Japanese broker's OTC volumes, on-exchange trading also increased on a yearly comparison, rising by 165.6 percent from $3.2 billion in March of 2019 to hit $8.5 billion. Furthermore, it appears that March's result is also the best the broker has achieved since at least 2014.