The total monthly deposits for retail FX have recorded a three months decline, but retail traders are gradually increasing their transactions. They are now sending more money again to their FX accounts. Reports noted that the retail traders are now sending more money than before February.
The latest data from cPattern shows that the retail FX market has bounced back, and could be heading into months of record activities ahead of market volatility.
In the past, the highest average value of the total monthly deposit sent to the FX accounts stood at $14,401, which was recorded in October last year. But February data brought a new record, as the FX market volume hit a total monthly deposit of $14,482. This represents a minor increase over the previous record. However, it improved notably from the data value of $12,774 recorded in January, the report revealed.
Total monthly withdrawals increased in February
February saw a slight increase in the total monthly withdrawals. According to reports, retail trading accounts withdrew $8,195 on average in the month. But in February it was $7,684. In general, the Net Deposit value keeps increasing, growing from $5.087 to $6,286 in February.
Asian Retail FX Traders Are Still Active
The FX market activities for the first three months of the year also showed that Asian retail FX traders are still very active in the market.
Also, the market has witnessed stabilization in terms of the average number of transactions. Earlier in February, there were an average of 249 transactions in January from traders from the top ten FX trading countries. However, this number was still lower than the 258 recorded in the previous month.
The data also shows that Asian traders are the most active FX traders in the world, based on activities generated in top FX trading platforms. This figure was for January. But in February, Korean FX traders took the lead as the most active in the market. The FX market has been dominated by Asian traders for a long time as they make a majority of the entire trade movement in the global FX market.