After a Solid May, FX Trading on GMO Click Falls in June

June's volumes were down both on a monthly and annual comparison.

After a welcome uptick in foreign exchange (forex) trading in May, the retail brokerage unit of Japanese IT giant GMO Internet, GMO Click, has yet again reported a drop in volumes for June.

As Finance Magnates reported, May brought signs of life back into GMO Click’s FX trading volumes. So far this year, volumes have been lackluster, and this was particularly pronounced in the month of April.

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However, it appears the June is not continuing on from May’s recovery. Taking a look at FX Neo, where clients trade over-the-counter foreign exchange margin, although the number of accounts increased, the monthly turnover fell.

Specifically, the number of accounts increased by 6,010 during the month, but monthly turnover for June 2019 fell by 12.0 percent from ¥66.5 trillion  ($612.9 billion) in May down to ¥58.8 trillion. Overall, June’s value is the fourth-strongest achieved so far this year – behind January, March and May.

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When weighing this against the same month of the previous year – June 2018 – the decline is more pronounced. In fact, last year, June noted a turnover of  ¥78.3 trillion, meaning last month’s value is lower by 24.9 percent.

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On Click 365, which facilitates on-exchange forex margin trading, the volumes follow a similar pattern, i.e., they have fallen on a month-on-month comparison despite an uptick in the number of accounts.

During June, the number of accounts increased by 6,287 to reach 513,957 total accounts. The monthly transaction volume, however, did not increase. Instead, it fell by 23.5 percent, falling from 463,951 contracts in May down to 354,811 contracts in June.

The transaction volume for June is the second lowest value achieved this year, behind February. When measuring June’s value on a year-on-year comparison, it is down by 31.6 percent as 518,489 contracts were traded in June 2018.

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