Not quite Japan, but retail trading is rapidly becoming an important part of the global forex market.
An interesting article in The Australian Financial Review highlights the growing importance of retail forex trading in Australia, Japan and elsewhere around the globe. The conclusions of the article should not be surprising to our readers — our Retail FX Volume Index just hit its all time high in June at $329 billion daily. Most members of our Approved List of global regulated forex brokers, including Australia’s leading domestic forex broker AxiTrader, have seen record client trading volumes in the first half of 2013.
One of the key points made in the article is that the Bank for International Settlements, whose triennial report on the global forex market is due out in September, will be paying more attention to the retail forex sector in its upcoming report.
On the regulatory side of things, the AFR reports that Australia’s ASIC is likely to keep leverage uncapped for retail forex traders, but it is examining closely mirror trading and copy trading.
To see the complete AFR article click here.