RECOMMENDED FOREX BROKERS
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Japanese forex brokerage Monex Group reported on Monday a daily average revenue trades (DARTs) of 307,856, which is the highest in the past nine months. The figure represents a monthly increase of 30% and a growth of 9.7% over the year. In comparison, a month earlier the brokerage posted the third lowest number of DARTs (236,895) in its history.
Monex Inc. and TradeStation Group, two of Monex Group’s main subsidiaries, also posted high DARTs for November. Monex Inc., the group’s Japanese subsidiary, saw its DARTs at 203,358, the highest since March and 42.2% higher than in October. TradeStation Group, which is in charge of the group’s operations in North America and Europe, registered an 11.8% growth in DARTs to 105,400 – the strongest monthly value since June.
In November, Monex Inc. handled 1,014,391 active accounts. Accounts for over-the-counter (OTC) forex trading totaled 232,764, of which 66,307 were active. Clients of TradeStation Group, on the other hand, operated 61,819 active accounts last month. Both brokers reported slight increase in the number of client accounts from the preceding month.
Monex Group operates internationally and consists of a group of companies based in Japan, Asia, North America and Europe. It operates under three retail trading brands – Monex, TradeStateion and Boom. The majority, or about 60%, of its revenue comes from operations in Japan and the remaining 40% from operations in the US. It did not provide trading metrics about its other subsidiaries.
Since the beginning of the year, the forex market in Japan has not been at its best. The combined trading volumes of brokers that operate in the country have been bouncing up and down. Brokers started the year strong, but lost momentum over the course of the year. The latest figures indicate it they may be back on track.