Russia’s largest exchange saw a huge flock of traders in the first four months of the year. 1 million plus retail traders have joined Moscow Exchange (MOEX), opening double the account numbers when compared to any of last year’s months.
In its by-monthly report, MOEX revealed that the number of traders had reached a new high; a 25% climb from the previous year, or 5 million account in total, and counting. On average, the firm was adding 258k individual accounts per month, during the January-April period. Last year, in 2019, the average per-month count for the January-April duration was 159k.
Furthermore, 2020’s April saw 597k users make at least one trade, which is well above 100% more than 2019’s April numbers of 245 000. 2020’s April alone is said to have seen a near $470 billion (RUB 34.6 billion) bump in shares.
Interestingly enough though, the Moscow Exchange did not disclose the particular reasons for the boom their trading platform has been seeing lately. It does not take a rocket scientist to put things together, and attribute the jump of retail activity to the COVID-19 epidemic. Many were attracted to the prospect of online trading from home, especially during the quarantine time, while experienced investors saw the opportunity for online trading as means to protecting their portfolios.
The volatile period for the financial markets was also, ironically, beneficial to MOEX’s forex trading volumes. In March, the company experienced a jump in FX trading to $486 billion, or RUB 36 trillion.