Japanese Fx broking giant, GMO Click started the year 2018 on a bullish note with higher monthly Fx trading volume for January, recovering from diminishing trading volumes in the last few months on 2017. The company reported the spot Fx volumes of January on Monday which totaled ¥82.7 trillion or $752 billion for its over the counter (OTC) or FXNeo product.
The January’s Fx trading volume data represents a 62 percent increase on a month-on-month basis and also the highest since March 2017. For the December month, the company had reported a yearly low trading volume of ¥51.0 trillion or $451.9 billion. The high volatility in the Yen-pair trades and the weak dollar had attracted many traders back to the Japanese market.
In terms of Fx OTC accounts, the retail forex trading FXNeo platform reported a flat change in terms of addition of new accounts with marginal 0.9 percent month-over-month increase to 519,696 from 515,022 accounts.
The Click 365 segment, the trading volume for GMO Click’s exchange-traded product were also higher at 565,927 contracts in January 2018 against 411,508 contracts a month earlier, an increase of 38 percent. Also, Click 365 added 4621 accounts in the January month from 408,986 accounts in December 2017.
By far, GMO is the undisputed leader in the Fx retail trade space with average monthly volume during the year 2017 arrived at $660.32 billion. GMO Click has a highest monthly trading volume set in 2016 at $900 billion.