FxSpotStream reported its monthly numbers for April which showed a slight drop in its month-on-month trading volume.
The total traded volume for the month of April was reported as $1.07 trillion which represented a 14% drop in the volume as compared to the volume of $1.25 trillion in March 2021. But despite this slight drop, the volume reported for April 2021 is around 46% higher than the volume traded at FXSpotStream in April 2020. This represents a huge jump overall and shows the continued strong business being run by the company.
The average daily volume (ADV) was reported as $48.7 billion which was also a slight drop of 11.1% when compared to the ADV in March 2021 which had come in at $54.67 billion. But in this case as well, the ADV reported for April 2021 showed a large pickup by about 44% when compared to the ADV reported for the same month of April last year.
These numbers should be highly encouraging for FXSpotStream as these come in when the world is in the middle of a pandemic when many of the trading platforms and exchanges are reporting a dip in their trading volumes due to this. People want to save up money during this period as they are not sure when things would be back to normal in many parts of the world and this is one of the reasons why retail traders are hesitant to go all in on their trading during this period.
Considering the above factors, the trading volume and the ADV should act as a boost for the company as it looks to buck the trend. Trading volumes around the world are expected to pick up in a slow and steady manner over the next few months as normalcy is restored and it remains to be seen whether FXSpotStream would continue with its growth in the trading volume.
The dip in April is a standard trend across the market as it generally marks the beginning of a holiday period in some parts of the world. The company recently expanded on its range of products by its support to trading algos and allocations and with the addition of Mathew Fic to the Sales team, the company would expect to continue its sales push in the coming months.