IC Markets’ March 2021 Trading Volume Surpassed $1 Trillion

IC Markets, a Sydney-based 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 and CFDs trading services provider, announced on Wednesday that the trading volume for March 2021 on the platform came in at $1.04 trillion.

The astronomical growth in the monthly trading volume last month hit a record for IC Markets, as the numbers even remained higher than March 2020 when Covid-spurred Volatility Volatility In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, or stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Trad In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, or stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Trad Read this Term pushed traders towards the markets.

Demand among Retail Traders Pumped the Broker's Numbers

According to the brokerage, the spike in the trading volumes resulted from an influx of clients and its product diversification, which attracted a diversified base of traders.

The press release shared with Finance Magnates detailed that the Aussie broker witnessed a demand surge across all asset classes, including forex, stocks, commodities, digital currencies and futures. In addition, the brokerage expanded its offerings with cryptocurrencies and share CFDs, which might have brought in more traders.

Overall, the first quarter of the year, from January to March, witnessed a record trading volume of $2.84 trillion, 19 percent higher than what the broker recorded in the same quarter the previous year.

Commenting on the record numbers and its offerings, IC Markets CEO, Andrew Budzinski, said: “Our focus has been on providing our customers with the best possible trading experience. By offering more choice, our clients can now diversify their portfolio into new asset classes.”

Though lockdowns to check the spread of Coronavirus stalled the global economy severely, brokers gained a windfall due to traders’ accessibility and activity in a volatile market. IC Markets reported a total annual volume of $9.32 trillion for 2020 and is now expecting to set another record year if the Q1 trend continues.