FXCM hits record trading volumes
FXCM has reported record trading volumes in May, signalling the continuing return of traders into the market looking to take advantage of an upswing in volatility.
"In 2012, volatility hit record lows. We have always said volatility is unpredictable, but have seen a nice pick-up in 2013. The recent upturn we are seeing is still not back to normal levels, but it seems to be a natural correction for the FX market," says Drew Niv, chief executive at FXCM in New York.
Retail customer trading volumes were up 28% on May last year, reaching $390 billion, while average retail customer trading volume was up 29% to $17 billion. Similarly, institutional trading volumes grew 39% to $191 billion in May versus the same time last year, while average daily institutional trading volume reached $8.3 billion, up 39% on a year earlier.
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