After a slump in foreign exchange (forex) trading in June, GMO Click, the retail brokerage unit of Japanese IT giant GMO Internet, has published its trading volumes for the month of July.
Taking a look at the over the counter (OTC) trading volume, which is executed through FX Neo, the broker reported a monthly trading volume of $516.1 trillion. When measuring this against the previous month, which had a monthly trading volume of $544.4 trillion, this is lower by 5.2 per cent.
As Finance Magnates previously reported, June published lacklustre trading volumes for the month. For FX Neo, where clients trade OTC FX margin, although the number of accounts increased, the monthly turnover fell.
Specifically, June’s trading volume of $544.4 trillion fell by 10.0 per cent and 23.5 per cent month on month and year on year, respectively.
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In the first seven months of this year, July had the fifth-strongest trading volume, ahead of February and April. When weighing the figure against July of 2018, which reached a trading volume of $566.1 trillion, last month’s figure is down by 8.8 per cent year on year.
In July, the number of trading accounts of FX Neo increased by 6,413 accounts or 1.0 per cent to reach 625,024, up from 618,611 in June.
Click 365 volumes improve MoM
On-exchange trading volumes, which is facilitated through Click 365, for the month of July was $2.8 billion. When weighing this against the previous month, GMO Click actually managed to achieve an uptick of 16.7 per cent.
However, it has fallen by 28.2 per cent against the same period of the previous year, which had a trading volume of $3.9 billion. This reduction in trading comes despite an uptick in the number of trading accounts, which increased by 1.2 per cent month on month to reach 520,184 accounts.