GAIN Capital Holdings, a US-based online trade services provider and owner of the retail forex broker Forex.com, reported on Thursday its preliminary retail over-the-counter (OTC) trading volume amounted to $229.5 billion in November. The figure represents an increase of 3.8% over the year, but a decline of 13.2%, compared to the previous month.
The holding company’s average OTC daily volume from retail operations was $10.9 billion last month, registering a drop of an annual 1.1% and a monthly 9.1%.
GAIN Capital’s retail client accounts for OTC trading that were active in November numbered 148,871, or up by 57.5% over the year. The figure represents a decline of 1%, compared to the previous month.
Earlier this week, the US Commodity Futures Trading Commission (CFTC) said that GAIN Capital Group reported the second largest retail forex obligation of $133.7 million in October, growing 26.5% on the year and 15.7% over the month.
The majority of forex brokers that have posted their monthly metrics for November reported lower trading volumes last month, and some of them even posted their lowest figures for the year.
The trading volume of Cyprus-regulated forex brokerage group EXNESS fell 12% on the month to $177 billion in November, and these of Japanese forex brokers GMO CLICK Securities and FX PRIME, both part of GMO Click Holdings, fell on the month by 22% to JPY 67.4 trillion and by 21% JPY 4.5 trillion in November, respectively. Also, the trading volume of Monex Group, another Japanese brokerage group, dropped by 20% on the month to $22.6 billion last month. On the other hand, Saxo Bank, a Danish bank specialized in providing online trading services, forex included, had a daily average trading volume of $10.4 billion in November, or up by 5% on the month, but down by an annual 30.7%.
GAIN Capital is headquartered in the US and is present in North America, Europe and the Asia Pacific regions. It offers a number of trading services to retail and institutional clients, including forex, commodities, and global equities trading.
Source: PR Newswire