Kabu Beats August Lull, Sees MoM Uptick in OTC FX Trading
Unlike a range of trading providers, online securities brokerage Kabu has managed to report an uptick across its key metrics for the month of August across foreign exchange (forex) and stock trading.
This Wednesday, the Japanese broker has published its business metrics for the month of August. According to the figures, Kabu has seen an increase in the over the counter (OTC) forex monthly trading value recorded on its platform.
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In particular, the OTC FX monthly trading value was ¥2.18 trillion for the month of August. This is stronger than the previous month, which posted a monthly trading value of ¥2.13 trillion, by 2.1 per cent.
Whilst stronger than the monthly trading value achieved in July, overall, Kabu’s monthly FX trading value was lower. Since March of this year, August’s figure is only in front of May and July.
The monthly trading value of stocks also increased on a monthly comparison, rising from ¥2.36 trillion in July to reach ¥2.52 trillion in August. This translates to a 6.6 per cent monthly growth.
Across the month of August, 6,621 new securities accounts were opened on the online brokerage, bringing the total number of accounts to 1,184,528. The number of newly opened accounts across the broker was 7,386, which is 205 more than the previous month.
Kabu beats industry trend
Kabu’s metrics for August stand out against other trading providers, as it is one of the few brokers to actually post a month on month uptick in August. As Finance Magnates reported, FXSpotStream LLC, Euronext FX, the Tokyo Financial Exchange Inc. and more all reported declining forex volumes in August.
However, Kabu is not alone in going against the general trend. As Finance Magnates analysed, currency trading on Integral’s trading platforms rose more than 15 per cent in August 2020 from a year earlier, as increased volatility across financial markets led to greater activity on the institutional FX venue, the company said.
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