Growth of around 40% driven by a four-fold increase in Binary Options trading.
Australian forex and binary options broker Enfinium — which includes the Vantage FX label — has announced that June trading volumes hit the $16 billion level in June, up 35% from May. Subsidiary Vantage FX saw volumes rise 41% in June, over May.
The Enfinium headline confirms one of the themes we wrote about earlier in the week, regarding the ‘coming of age’ of forex trading in Australia. Australia itself has seen nice double digit percent growth in forex trading the past two years, and has been further driven by the popularity of Australia as a hub for forex brokers serving the China and greater Asia-Pacific region.
Australia’s domestic forex brokers have been growing nicely riding this wave, but are (mostly) still small by international standards. Australia market leader AxiTrader hit $82 billion earlier this year, and AxiTrader did $70 billion of forex trading volume in June.
To see the Enfinium press release click here.