Tickmill, a forex and contract for difference (CFD) broker, continues to produce impressive results as the firm announced today that it has achieved record-breaking Group consolidated trading volumes for October 2018.
October, which is now the firm’s most successful month since its establishment, achieved a trading volume of $145.53 billion. Not only is this higher than September’s volume of $117.7 billion, which until today had reported the highest trading volume, but it was also a jump of 23 percent.
For nine out of the past ten months, the Group has reported a monthly trading volume of more than $100 billion. The total trading volume for the nine months ended September 30, 2018, was recorded at $966.7 billion.
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Commenting on the solid results, Ingmar Mattus, Executive Director of Tickmill Group Ltd said: “the $145.53 billion in trading volume sets a precedent for the Group and allows us to come closer to what we have previously described as the next logical milestone for the company – the $200 billion in trading volume. On that note, we would also like to thank our clients for trusting and choosing Tickmill as their broker.”
Is Tickmill Benefitting from FX Market Consolidation?
The Chief Financial Officer of Tickmill UK, Illimar Mattus, said that he believed the results were a clear sign of consolidation shaping the forex industry. With small brokers struggling under the weight of regulation, Mattus believes that traders are shifting to well-establish brokerage firms with recognisable brands and solid capital bases.
“This is partially the reason why we are seeing a consistent growth in our business metrics. In order to bolster our footprint in our target markets and shift the focus towards larger and more sophisticated traders, existing shareholders injected an additional £2.0 million into the share capital of Tickmill UK Ltd in October, which despite Brexit concerns will remain our main European hub of operations,” he added.