GMO Click Reports Recovery in FX Trading Volumes in May

April was a sluggish month in terms of 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, as low volatility weighed heavily on the markets. However, May is starting to show signs of life again, and this is reflected in the monthly trading results for GMO Click, the retail brokerage unit of Japanese IT giant GMO Internet.

As Finance Magnates reported, GMO Click was one of the many trading providers to report weak trading results in the month of April. This Wednesday the broker has published its results for May, showing solid improvement.

Via its FXNeo platform, which facilitates retail trading on FX Margin, the broker reported a monthly turnover of ¥615.51 billion. When measuring this against the previous month, which noted a monthly turnover of ¥493.98 billion, it is higher by 24.6 percent.

The higher turnover was in part, aided by an increase in the number of accounts on the FXNeo platform. In May, the total number of accounts was 612,541, this is higher by 1.2 percent or 7,228 accounts compared to April.

The monthly volumes for Click 365 also show signs of a recovery. Specifically, during the month of May 463,951 forex contracts were traded during the month of May. This represents an uptick of 18.7 percent when compared with the 390,769 contracts trading in April of 2019.

Last month, the number of trading accounts on Click 365 also managed to increase by 7,109 accounts or 1.4 percent from the 500,561 accounts in April to reach 507,670 accounts in May.

Stock Trading Falls on GMO Click

Stock trading with GMO Click, however, actually dropped on a month-on-month comparison. In May 759,479 stock contracts were traded. This is down by 4.3 percent when measured against the 793,955 contracts traded in April.