List Forex Trading Industry in 2021: Is It Possible to Sustain Growth?
This year has long been a fascinating one for forex traders across the planet, coronavirus pandemic, lockdowns and unprecedented volatility fueled trading tasks and resulted in high volumes with the record-breaking fact of new traders. The retail forex sector was facing a hard challenge before 2020 due to regulatory issues across the entire world as companies started out reporting a dip in volumes. Many brokers closed offices in different parts of the world because of regulatory issues.
In March 2020, due to a massive outbreak of COVID-19, lockdowns restricted travel, and individuals were sure to keep at home. Fiscal markets began reacting and that resulted in many trading opportunities throughout numerous assets. As a result of excessive volatility in the forex industry, pre-existing traders began increasing their exposure to make the most of new trading opportunities as new traders entered the industry. To be a result, forex brokers registered record volumes and new clients. These days that 2020 is about to end, the actual concern arises, is it easy for the list forex trading industry to retain the considerable growth it realized during 2020? We asked industry experts for their take on the list forex trading market in 2021.
“One key consequence of the pandemic has been the move to working from home, both for traders and brokers alike. The COVID-19 outbreak has additionally resulted in unprecedented volatility. These have been some of the drivers for the massive surge in trading volume seen since March, as traders had far more time on their hands as a result of lockdowns and a lesser amount of travel in general, and were additionally searching for new interests to produce since they had newfound moment to dedicate. And so, not simply were present traders increasing the volumes of theirs but some firms have seen record quantities of completely new traders enter the industry. This was surely the case for Exness regarding both volumes as well as new clients,” Moyes said.
“Initially in March when the pandemic broke out worldwide, there was a major upsurge of volatility which, along with all the newcomers, was driving volumes to unprecedented levels. Even though 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 prior to the pandemic. For many firms, the increases may well be renewable because of the amount of new clients. Additionally, circumstances around the extra time of people and working from home have changed hardly any since earlier in the season, consequently, the same drivers for improved volumes continue to apply. We’re getting about eighty % of the March volatility volume in Exness and currently running near to a 50 % increase from this time last year,” the Chief Commercial Officer at Exness added.