Forex ECN Hotspot FX reported today its FX volumes in February averaged $59.2 billion per day, up 21% from January and up also up 9% from February last year. Hotspot is a unit of Knight Capital Group (NYSE: KCG).

Hotspot's numbers confirm a trend we have seen at ICAP and FXCM, where after a very weak Q4 and slow start to the year in January, there had been a major pickup in FX volumes globally in February.

Volumes remain below the $60 billion-per-day + Hotspot reported every month between May and October last year, but seem to be headed in the right direction once again.