The forex markets bounced in May yet again after a disappointing performance in May. The Financial Futures Association of Japan posted results form 54 forex and 8 binary options operators.
Good results cheer all
The Financial Futures Association of Japan (FFAJ) recently published the forex margin volumes for May for its retail margin foreign exchange (forex) business conducted over-the-counter. It also published results for its binary options trading business for the last month. The association publishes data from 54 operators working in the forex space, and 8 operates providing binary options services every month. This month’s number of operators is the same as April.
During April, both binary options and OTC forex margin trading posted weak figures. The results fell in line with the global trends, where most trading providers reported a drop in volumes in April. In May, the fortunes of the operators turned. The OTC volume of the Tokyo Financial Exchange (TFX) was 277.1 trillion yen, marking a 17.67% rise in volume since the previous month.
Japanese traders finally hear good news
Trading volumes for Cross Yen, the USD/JPY pair did much better than April. It’s trading volume went up by 22.67% month-on-month, going up to 249.6 trillion yen from 203.4 trillion yen. On-exchange contract trading volume also went up during May to 1.7 trillion yen, marking a 20.1% rise from April’s 1.5 trillion yen trading volume.
Binary options also experienced satisfactory results during May. The eight binary options members of the FFAJ, including GMO Click Securities Co., have all experienced an uptick in volumes. The total trading volume for binary options for the eight members was 27.7 billion yen, marking a 6% growth over April’s 26.2 billion yen.
The FFAJ’s figures were more promising in March after a disappointing performance in February. Overall, the forex market is going through regular ups and downs, and June’s number will be crucial in defining this ongoing trend.
Forex volumes are not picking up significantly on a global basis as well. Retail broker Saxo Bank also posted financial results for the month of May recently, posting mediocre numbers with low volatility. The total forex trading volume for the period was $143.9 billion. The trading volume for the previous month was $123.2 billion for April, but in March, they were significantly higher at $158.6 billion.