IC Markets’ November Trading Volume Surpasses $1 Trillion, Sets Record

Sydney-based IC Markets, a 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 broker, announced on Monday that it recorded its highest monthly demand in November as trading volume for the month touched $1.016 trillion.

According to the press release shared with Finance Magnates, the broker witnessed a surge in trading volumes across all asset classes, which received a boost from product diversification, growth in new markets and optimum trading conditions.

“We are delighted to be bringing more traders across a growing number of markets a greater choice of trading instruments, so they can diversify their portfolio whilst taking advantage of the optimum trading conditions,” said IC Markets CEO, Andrew Budzinski.

The $1 Trillion Mark

IC Markets is one of the very few retail brokers to handle more than $1 trillion in monthly trading volumes. The Aussie broker first surpassed this milestone last March. In addition, its business benefited from a surge in retail trading Retail Trading In finance, retail trading refers to individual traders, trading through a broker, or on a platform. This can include novice traders and experienced traders. Trading and investing are divided into two categories, retail and institutional. Institutions include investment banks like JP Morgan or Citibank and global central banks like the US Federal Reserve and the European Central Bank. When we talk about retail trading however, we usually are referring to forex trading, but there are retail trade In finance, retail trading refers to individual traders, trading through a broker, or on a platform. This can include novice traders and experienced traders. Trading and investing are divided into two categories, retail and institutional. Institutions include investment banks like JP Morgan or Citibank and global central banks like the US Federal Reserve and the European Central Bank. When we talk about retail trading however, we usually are referring to forex trading, but there are retail trade Read this Term demand with increased market volatility after the impact of the pandemic on global economies.

Additionally, the growth in volume was significant in 2020 as it ended the year with a total trading volume of $9.32 trillion.

“Our traders are staying with us to take advantage of the highly competitive spreads we offer and our ultra-fast order execution. We’ve worked hard to ensure we deliver a high-performance trading experience that attracts and rewards a loyal following of online traders,” Budzinski added.

Meanwhile, the broker is focusing on strengthening its brand across global markets, especially in Europe. Furthermore, it has inked sponsorship deals with 12 football clubs in Spain and Germany. Recently, the broker became a member of the Financial Commission, offering €20,000 fund protection for every client.