The Upside of COVID-19, GMO Click Sees Record March FX Volumes

Although the coronavirus pandemic has created many challenges, one positive the virus has caused is an increase in volatility, which has seen trading providers, such as GMO Click, report a significant increase in trading volumes for the month of March.

As Finance Magnates reported, GMO Click achieved a healthy uptick in trading volumes in February. In fact, the Japanese retail broker posted a 27 per cent monthly growth in over the counter (OTC) foreign exchange (forex) margin trading volumes.

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March, however, has seen volumes explode from GMO Click. Specifically, data published this Friday shows the broker achieved a trading volume of almost $1.84 trillion. This represents a significant increase from the previous month, which achieved a trading volume of $728 billion, of 152.2 per cent.

On a yearly scale, the growth is even more pronounced, as March of 2019 had an OTC FX margin trading volume of $607 billion. Therefore, last months volumes have posted a strong uptick of 202.9 per cent year-on-year.

In fact, according to the data provided by GMO Click to Finance Magnates, the trading volume recorded in March of 2020 is the best monthly result seen by the broker since at least mid-2014.

GMO Click on-exchange volumes soar

Taking a look at on-exchange forex trading, the Japanese retail broker has again posted solid results for the month of March, coming in at $8.5 billion. When measuring this against the previous month, which had a monthly volume of $3.4 billion, it has increased by 150 per cent.

As was the same with the Japanese broker’s OTC volumes, on-exchange trading also increased on a yearly comparison, rising by 165.6 per cent from $3.2 billion in March of 2019 to hit $8.5 billion. Furthermore, it appears that March’s result is also the best the broker has achieved since at least 2014.

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