Monex reports 13% rise in forex volumes in February, MoM

Monex reports 13% rise in forex volumes in February, MoM

- in All News, Forex Brokers
case_monex_img_03

Monex Group (TYO 8698), a Japanese forex brokerage group, reported a 13% increase in its total global forex trading volumes for February 2016, month-on-month, reaching $42.9 billion. This is the broker’s best performance since at least February 2015.

At the same time the global daily average revenue trades (DARTS) over the 20 business days in February 2016 were 354 366 – 1.5% less than in the preceding month.

The average trade value per business day of the over-the-counter (OTC) forex traders using Monex as their broker was a little over JPY 204 trillion on 63 477 active accounts. The OTC forex volume is also a record performance since February 2015 and part of the consistent upward trend that started after the slump in November 2015.

The OTC DARTS in February 2016 was 217 039, posting a slight increase of 0.75% from January.

On the other hand, the broker-dealer and futures commission merchant TradeStation Group, part of Monex Group, saw a 4.8% decrease in the DARTS from 145 099 in January to 138 033 in February. The number of active accounts remained relatively steady at 68 796.

This, however, is about to change in March, as TradeStation’s subsidiary the forex broker IBFX recently sold the accounts of its US and Australian clients to the forex broker Oanda. Thus the former IBFX users of the TradeStation platform will not be able to use it as of the end of the business day on March 4.

Monex Group operates under three retail trading brands – Monex, TradeStation and Boom. It consists of Japan-based holding company Monex Group Inc. and its Japanese subsidiaries Monex Inc., Monex Ventures, Trade Science Corp., Monex Hambrecht, and Monex-Saison-Vanguard Investment Partners, which is a joint venture in which the group holds a majority stake. In addition, the group owns TradeStation Group, which is in charge of the operations in North America and Europe, and Monex International, aka Monex Boom Group, which is in charge of the Asian business.

Leave a Reply

Your email address will not be published. Required fields are marked *

You may also like

TradeStation platform forays into digital TV land

TradeStation, the trading and analysis platform, part of