Japanese retail FX giant MONEX Group has today announced its full monthly metrics for April 2014 for the entire group, including all subsidiaries.
In congruence with the suboptimal results that a large number of retail FX firms have experienced in recent weeks, MONEX Group’s $33.3 billion dollar FX trading volume for April represents a decline compared with March’s $40.5 billion.
FX volume has steadily dwindled since the beginning of 2014, with the hope of MONEX Group reviving its activity to levels experienced one year ago as January’s $53.4 billion FX volume has reduced month by month thereafter.
Last year drew to a close with relatively low volumes in the third quarter having represented a mere shadow of April 2014’s $79.9 billion. However, the decline experienced during April 2014 to $33.3 billion represents a steeper tailing off than the steady monthly decline demonstrated since January this year, and indeed represents the lowest volume figure for over one year.
Despite this, MONEX Group arrived at the end of April with a higher number of active accounts than it had in March, despite the considerable contraction in trading activity. When viewing on a segmented basis, the group had less margin accounts than it did one month previous, and in keeping with the monthly decline in trading volume, the firm has been responsible for an ever decreasing total of assets under management since the year began.
The effect of this dynamic on OTC FX average daily volume at MONEX Group took its toll, with only 80,087 million yen, which is 162 million yen less than one year previous, and 35 million yen less than the figures produced for March 2014.