Historically speaking, June has always been a slow month when it comes to volumes for foreign exchange, since it triggers the summer lull for trading providers across the globe. However, the year of 2020 has been anything but typical, and the COVID-19 pandemic has made June cause a resurgence in trade volumes for a wide range of brokers. One of these brokers, and the focus of the article, is GMO Click.
COVID-19 Volumes Continue To Deliver
GMO Click has managed to report a total amount of over the counter (OTC) forex margin trading volumes of $1.23 trillion for June of 2020. Even so, it’s a far cry from the record-breaking volumes for the broker that occurred in March this year, just when the COVID-19 pandemic had reached its peak. During this time, the Japan-based retail broker managed to record trading volumes of $1.85 trillion, the highest it’s ever recorded
While the June trading volumes haven’t reached the numbers the exchange saw in March, and it probably won’t, the volume that it had reported is still considerably higher than the volumes of May and April. The volumes for April was recorded at an impressive $1.06 trillion, and May’s numbers showed a slightly lesser $903.4 billion. As the volatility slowly winded down, volumes dropped along with it.
Best Numbers 2017 (Excluding March)
Excluding the overwhelming success of March, the OTC FX margin trading volumes that were recorded in June managed to beat three years’ worth of trading volumes, with January of 2017 being the closest month to beat it. When viewed year-over-year, the volumes of last month have more than doubled in volumes. June of 2019 only recorded volumes at $544.4 billion, which shows an increase of 126.5% when you crunch the numbers.
When you look at the on-exchange trading volumes, as well, June has proved very good in regards to GMO Click. The retail broker managed to record a monthly trading volume standing at $3.4 billion. This in and of itself shows an increase from the $2.8 billion that the exchange had achieved a month prior, doing so by an impressive 21.4%
Almost 50% Higher Than June of 2019’s On-Exchange Volumes
The on-exchange volumes aren’t even the best of 2020. It isn’t even second place. These two positions were given to March and February of this year, respectively. March managed to achieve a record volume of $8.5 billion, with February standing in second place. However, it should be noted that June 2020’s on-exchange trade volumes have seen an increase of 41% when you look at the year prior’s volumes, which stood at $2.4 billion back in June of 2019.