GMO Click FX Volumes Fall 7.5% MoM as Trading Slowed in August

GMO Click, which is a Japanese retail brokerage giant, published the monthly metrics of trading activities for August, reporting a decline in the 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 volumes. This was a cyclical dip in trading activities globally due to the summer holidays.

According to the official numbers, 82.1 trillion yen worth of foreign exchange was traded last month on FX Neo, the spot forex Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term of the broker. The figure slipped 7.5 percent when compared with the previous month's trading volume of 88.8 billion yen.

On a yearly basis, the plunge is more significant as it has declined from 120.3 trillion yen in volumes recorded in August last year. Trading on GMO peaked last year after the volatility was triggered by the impact of Covid-induced lockdowns across the world. Though the activities peaked in March 2020, the volumes in consecutive months remained significantly higher before correcting heavily in 2021.

Despite the dip, August volumes remain higher than the reported figures for June, when it saw the lowest activities since the March peak.

The Japanese broker added 3,348‬ new FX Neo accounts last month, taking the total number of accounts to 723,802.

A Declining Trend

Demand on the daily FX futures exchange, Click 365, remained on the lower side when compared month-over-month, but demand climbed by more than 25.2 percent year-over-year. It closed the month with 620,259 Click 365 accounts.

Unlike forex, the demand for stocks last month surged by 3.7 percent in relation to the previous month, but this interest declined from August 2020.

As Finance Magnates reported recently, other Japanese and global forex exchanges reported the expected decline in their August volumes. Tokyo Financial Exchange (TFX) reported an 11.2 percent monthly dip in FX derivatives trading, while FXSpotStream witnessed a 15.97 percent decline.