GMO Click OTC FX Trading Volumes Continue to Slump in July

After a slump in foreign exchange (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) trading in June, GMO Click, the retail brokerage unit of Japanese IT giant GMO Internet, has published its trading volumes for 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 percent.

As Finance Magnates previously reported, June published lackluster 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 ten percent and 23.5 percent month on month and year on year, respectively.

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 percent year on year.

In July, the number of trading accounts of FX Neo increased by 6,413 accounts or one percent 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 July, was $2.8 billion. When weighing this against the previous month, GMO Click actually managed to achieve an uptick of 16.7 percent.

However, it has fallen by 28.2 percent 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 percent month on month to reach 520,184 accounts.