PrimeXM Follows Industry Trend with 15% Less Trading Volume in April

FX trading industry technology provider, PrimeXM reported a strong correction in the monthly trading volume for April 2021. The figure came in at $897.59 billion, which is 15.18 percent down from the previous month’s $1.06 trillion.

The decline in the trading demand came after the company recorded a massive influx in March 2021. The trading volume for that month was only behind the record that the platform witnessed exactly a year before in March 2020, and the second time it crossed the iconic trillion-dollar mark.

In addition, the company detailed that the average daily volume (ADV) for the month came in at $40.80 billion, compared to March’s $46 billion. The platform handled 27.03 million trades in the month, which dropped by more than 21 percent month-over-month.

PrimeXM offers its services from major data centers located in London (LD4), New York (NY4) and Tokyo (TY3). The servers in London handled most of the trades with $673.42 billion of the total volume, executing 20.70 million orders. The NY4 remained the second, handling $126.75 billion in volume, while TY3 handled $97.42 billion. The trend across the data centers remained the same for the second consecutive months.

Following the Industry Trend

Founded in 2010, PrimeXM’s key business focus is providing aggregation software, low-latency connectivity, hosting solutions and high-end MT4/MT5 bridging and white labels. Additionally, the Swiss-based ‎technology company offers a MetaTrader 5 Gateway low-latency connectivity to over 120 providers of 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 and CFD Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term.

Moreover, the platform revealed that gold instruments topped the demand, generating almost $262 billion, which was followed by two FX pairs EURUSD and GBPUSD with $148.7 billion and $111.1 billion, respectively.

The drop in PrimeXM’s overall trading volumes in April falls in line with the wider industry trend. Finance Magnates earlier reported on the volumes of Cboe and FXSpotStream as both saw a similar downward trend.