List Forex Trading Industry in 2021: Is It Possible to Sustain Growth?
This particular season has long been a unique one for forex traders across the world, coronavirus pandemic, lockdowns and unprecedented volatility fueled trading activities and resulted in volumes that are huge with the record breaking addition of new traders. The list forex industry was dealing with a difficult challenge before 2020 because of regulatory issues across the earth as companies started reporting a dip in volumes. Several brokers shut office spaces in various areas of the world due to regulatory issues.
In March 2020, due to a massive outbreak of COVID-19, lockdowns restricted traveling, and people were likely to remain at home. Fiscal markets began reacting and that resulted in many trading opportunities across different assets. Because of high volatility in the forex industry, pre-existing traders started increasing the exposure of theirs to make the most of new trading opportunities as new traders entered the industry. Being a result, forex brokers registered record volumes as well as new clients. Today that 2020 is about to end, the real question arises, do you find it easy for the list forex trading market to maintain the substantial growth it attained during 2020? We asked industry experts for the take of theirs on the list forex trading industry in 2021.
“One main 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 some of the drivers for the massive rise in trading volume seen since March, as traders had more time on their hands as a result of lockdowns and a reduced amount of travel in general, and were additionally looking for new interests to create since they’d newfound time to dedicate. Thus, not simply were present traders increasing the volumes of theirs but some firms have seen record levels of completely new traders enter the industry. It was definitely the case for Exness regarding both volumes as well as brand new clients,” Moyes believed.
“Initially in March when the pandemic broke out globally, there was a big upsurge in volatility which, along with all of the newcomers, was driving volumes to unprecedented levels. Even though there was the inevitable slight drop off in the days immediately after, volume levels had steadily increased throughout the season with levels far exceeding those before the pandemic. For most firms, the increases may well be renewable due to the number of new clients. Also, circumstances around the extra time of men and women and working from home have changed very little since earlier in the year, consequently, the same drivers for increased volumes continue to apply. We’re getting aproximatelly 80 % of the March volatility volume in Exness and currently working near to a 50 % increase from this time last year,” the Chief Commercial Officer at Exness included.