Monex sees global FX volumes dive in March 2016

Online trading services provider Monex Group, Inc. (TYO:8698) has just published its volumes metrics for March 2016, with numbers down from February 2016 levels.

The apparent reasons for the plunge include the sale of FX accounts of TradeStation Forex (IBFX) in Australia and the United States to OANDA last month, as well as seasonal factors. The metrics reflect a picture already exhibited by the bulk of FX companies that have reported their March operating metrics.

Global Forex volumes, that is Forex volumes across all of Monex’s subsidiaries, amounted to humble $28.3 billion in March 2016, a reading which is down 34% from the result reported in February 2016 and down 31% from the reading for March 2015.

Global daily average revenue trades (DARTs) were 288,349 in March 2016, down 18.7% from the preceding month and down 10.4% from March 2015.

Monex Inc, the Japanese subsidiary of Monex Group, saw a decrease in DARTs, which fell to 176,106 at the end of March 2016, compared with 217,039 at the end of February 2016. Active OTC FX accounts staged a small drop in monthly terms, from 63,477 to 63,316.

TradeStation Group saw DARTs slide from 138,033 in February 2016 to 112,769 in March 2016, whereas the number of active accounts fell from 68,796 to 61,348.

Regarding OTC FX results of TradeStation Group, Monex notes that accounts were transferred to OANDA Corporation and OANDA Australia Pty Ltd on March 4, 2016. The pool of 68,796 active accounts as of February 2016 includes 8,004 OTC FX accounts.


You can view the full report from Monex by clicking here.

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