List Forex Trading Industry in 2021: Is It Possible to Sustain Growth?
This year continues to be an interesting one for forex traders across the planet, coronavirus pandemic, unprecedented volatility and lockdowns fueled trading activities and resulted in volumes that are huge with the record-breaking fact of new traders. The retail forex industry was facing a tough challenge before 2020 because of regulatory issues across the earth as companies began reporting a dip of volumes. Several brokers shut offices in different parts of the entire world because of regulatory problems.
In March 2020, due to a massive outbreak of COVID-19, lockdowns restricted travel, and people were likely to stay at home. Financial markets started reacting and that resulted in several trading possibilities across numerous assets. As a result of excessive volatility of the forex sector, pre-existing traders started out increasing the exposure of theirs to make the most of new trading opportunities as brand new traders entered the market. To be a result, forex brokers registered new clients as well as record volumes. These days that 2020 is about to end, the real question arises, do you find it easy for the list forex trading industry to keep the considerable growth it achieved during 2020? We asked industry professionals for the take of theirs on the list forex trading industry in 2021.
“One key consequence of the pandemic has been the move to working from home, both for brokers and traders alike. The COVID-19 outbreak has additionally resulted in unprecedented volatility. These have been several of the drivers for the huge increase in trading volume seen since March, as traders had more time on the hands of theirs as a result of lockdowns and a reduced amount of travel in general, and were also looking for new interests to develop since they’d newfound moment to dedicate. And so, not simply had been present traders increasing the volumes of theirs but some firms have seen record levels of new traders enter the business. It was surely the case for Exness about both volumes as well as new clients,” Moyes believed.
“Initially in March if the pandemic broke out worldwide, there was an important upsurge of volatility which, together with all of the newcomers, was driving volumes to unprecedented levels. Although there was the inevitable small drop off in the months right after, volume levels had steadily increased across the year with levels far exceeding those before the pandemic. For a lot of firms, the increases might well be sustainable due to the number of new clients. Additionally, circumstances around the extra time of people and working from home have changed very little since earlier in the year, consequently, the same drivers for increased volumes still use. We are getting aproximatelly eighty % of the March volatility volume in Exness and now working near to a fifty % increase from this time last year,” the Chief Commercial Officer at Exness included.