FP Markets Reports Solid Trading Volume In Q1 2016
- Sydney-based First Prudential Markets announces a 60 percent increase in funded accounts year-on-year.
Australian CFD and FX provider First Prudential Markets, known as FP Markets, today announced a solid volume of trades for the first quarter of 2016, revealing double digit growth on its FX volume.
Commenting on the positive results, Daniel Bent, Head of FX at FP Markets, said: “The first quarter has been very good and positive for us in terms of trading volume and value. In February alone, we saw about 60 per cent increase in funded accounts on a year-on-year basis.”
The growth in FX trading volume came amid Volatility Volatility In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders Read this Term in global currency markets. Central bankers including the Bank of Japan and the European Central Bank have resorted to negative interest rates in their efforts to weaken their respective currencies and to stimulate growth while the US Federal Reserve has also signaled that it may hold on to a lower interest rate this year.
Bent believes that traders have consequently taken advantage of these high impact, market-moving events while noting that the EUR/USD and the AUD/USD pairs remain the favourite and most heavily traded currencies among FP Markets traders.
Looking ahead, Bent expects to see monetary policy playing a major role in the global FX market, while domestically, there could also be heavy trading on the Australian dollar due to the fluctuations in oil and other commodities.
FP Markets, a Sydney-based investment company, offers over-the-counter (OTC) and exchange traded derivative products including direct market access (DMA), CFDs, 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, shares and global futures contracts to both a retail and professional client base.
The latest earnings announcement follows last month’s appointment of two key sales and management team members in response to FP Markets’ growth plans involving an expansion into the FX market.
Australian CFD and FX provider First Prudential Markets, known as FP Markets, today announced a solid volume of trades for the first quarter of 2016, revealing double digit growth on its FX volume.
Commenting on the positive results, Daniel Bent, Head of FX at FP Markets, said: “The first quarter has been very good and positive for us in terms of trading volume and value. In February alone, we saw about 60 per cent increase in funded accounts on a year-on-year basis.”
The growth in FX trading volume came amid Volatility Volatility In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders Read this Term in global currency markets. Central bankers including the Bank of Japan and the European Central Bank have resorted to negative interest rates in their efforts to weaken their respective currencies and to stimulate growth while the US Federal Reserve has also signaled that it may hold on to a lower interest rate this year.
Bent believes that traders have consequently taken advantage of these high impact, market-moving events while noting that the EUR/USD and the AUD/USD pairs remain the favourite and most heavily traded currencies among FP Markets traders.
Looking ahead, Bent expects to see monetary policy playing a major role in the global FX market, while domestically, there could also be heavy trading on the Australian dollar due to the fluctuations in oil and other commodities.
FP Markets, a Sydney-based investment company, offers over-the-counter (OTC) and exchange traded derivative products including direct market access (DMA), CFDs, 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, shares and global futures contracts to both a retail and professional client base.
The latest earnings announcement follows last month’s appointment of two key sales and management team members in response to FP Markets’ growth plans involving an expansion into the FX market.