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) 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.
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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, 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.