Australia-based forex broker International Capital Markets, trading as IC Markets, said on Monday its trading volume continued to rise and reached a new record-high of $234 billion in March 2017. Its average daily volume (ADV) stood at $10.1 billion last month.
In comparison, the second highest trading volume was generated in November 2016 and was $188 billion.
“Our March volume numbers are a testament to our market leading spreads and trading conditions. We have always been widely regarded as one of the world’s top foreign exchange brokers and now the March results have truly cemented our position as the largest in Australia, and certainty one of the largest in the world,” said Andrew Budzinski, managing director at IC Markets.
The broker usually does not publish trading metrics on a regular basis, but only if they are extraordinary. Other Australian brokers rarely make such data public, either. IC Markets was also the first one to announce March retail trading metrics.
IC Markets, headquartered in Sydney, is an electronic communication network (ECN) broker of forex and contracts for difference (CFDs) that serves individual traders, money managers and institutional customers. It is regulated by the Australian Securities and Investments Commission (ASIC) and is among the leading Australian brokers.