Forex Trading Volumes Soar Amid Covid-19 Volatility

Jacob | @ |
forex
source: pexels.com

With lockdown and restrictions seemingly easing amongst many countries around the world, the uncertain times have proved to be a boom for forex traders and brokers.

Globally, forex and CFD brokers have been reporting record volumes in the first quarter of the year as the extreme volatility seen in just about all markets drew in traders of every level, to the trading desks.

Indeed thanks to the advancement of technology and the ease of access to dedicated forex services such as a VPS Forex Trader, anyone with an internet connection can trade the markets, and it seems everyone has!.

Retail volumes at GAIN Capital Holdings, Inc. (NYSE: GCAP) leaped higher in March. The largest US FX broker also managed to beat its 2019 equivalent as March turnover swelled to over twice their 12-month daily average.

During March, PrimeXM reported an average daily volume (ADV) of $48.22 billion, which represented a jump of six percent month-on-month from $45.68 billion reported back in February.

And there was more. Brokers around the world posted big leaps in volumes and sizable rises, on the whole, in profits

Forex Trading Only For the Brave?

In such uncertain times, the wild volatility which saw oil futures trade in a negative last week, maybe off-putting or too daunting for many traders. However, in today’s automated trading world of VPS forex trader systems, robots, and indicators, the volatility has, as seen by the broker results, has not been an issue for traders. In fact, it has been the opposite, as the wild swings in the charts have acted like moths to a light.

Admittedly, the volatility isn’t for anyone. However, the opportunities the movement brings has certainly been taken by many traders. The beauty of advanced forex trading tools is that these profits are no longer just the preserve of professional forex traders and large financial institutions. Anyone can trade the markets, and it seems more and more people are.

For now, the sun is shining for traders, and many are making hay.

The following two tabs change content below.

Jacob

Jacob Maslow is a writer and marketing specialist who began his career as a payroll manager. The same affinity for numbers that originally led him to an early career in accounting now comes in handy when it comes to understanding and working with marketing analytics. A native of New York, Maslow is now based in the Middle East, where he lives with his wife and five children and provides high-quality services to clients in a variety of industries, including the legal, medical and financial sectors.

Related Posts

← →