The first month of the second quarter brought changes to our main indicators. Some of the results were surprising and contradicting. Finance Magnates Intelligence examined CPattern data for April to see what are the current trends in the FX/CFD industry.
Firstly, all three indicators measuring average deposits, first-time deposits and withdrawals, increased. The changes were not spectacular but could indicate changes in longer trends. The average deposit sent to an account increased from $1,989.34 to $2,119.80, while the average first-time deposit grew from $1,581.72 to $1,943.64.
These indicators could suggest that we have seen an improvement in April. However, a closer look at the data shows that combined monthly deposits and withdrawals were lower. The average total deposit in April was $11,360 compared to $13,524 seen in March. At the same time, total monthly withdrawals decreased from $8,438 to $5,221.
Less Active FX/CFD Industry
It looks like retail traders lowered their activity in April, sending bigger single deposits but less frequently. This was also true for the trading activity. The typical trader was conducting 239.5 transactions per month, compared to 260.2 in March.
Finance Magnates Intelligence will be monitoring industry activity in the upcoming months. Stay tuned for more industry related research, or reach us directly for additional research requests.
