Monex Group forex volumes drop 38% in July to $26 billion
Third month in a row of volume decreases for Monex, after a fast start to the year.
In Japan, it seems as though the large are getting larger, while the small are struggling in the forex industry. Retail forex broker Monex has reported its July volumes, and they are down 38% from June. Monex July volumes came in at ¥116.5 billion per day, which translates to just $26 billion for the month.
Monex set its all time high for volumes in April at $54 billion, and has seen volumes drop since three months in a row by more than 50%, while Japan retail forex market leader GMO Click continues to grow. As we reported earlier, GMO set an all time high for a retail forex broker in June, topping $1 trillion in monthly volumes, and GMO kept up the pace in July.
For more on the global Forex industry see the LeapRate-Dow Jones Forex Industry Report.