List Forex Trading Industry in 2021: Is It Possible to Sustain Growth?
This season continues to be a fascinating one for forex traders around the globe, coronavirus pandemic, lockdowns and unprecedented volatility fueled trading activities and resulted in high volumes with the record-breaking addition of new traders. The list forex industry was facing a difficult challenge before 2020 due to regulatory concerns across the earth as companies started out reporting a dip in volumes. Many brokers closed offices in various parts of the world because of regulatory problems.
In March 2020, due to a considerable outbreak of COVID 19, lockdowns limited traveling, and individuals were bound to keep at home. Fiscal markets started out responding and that resulted in several trading possibilities throughout different assets. Due to high volatility in the forex industry, existing traders started increasing the exposure of theirs to make the most of brand-new trading opportunities as new traders entered the industry. Being a result, forex brokers registered record volumes as well as new clients. Now that 2020 is intending to end, the true question arises, is it possible for the list forex trading market to retain the substantial growth it achieved during 2020? We asked industry experts for their take on the list forex trading market in 2021.
“One major consequence of the pandemic has been the move to working from home, both for brokers and traders alike. The COVID 19 outbreak has also resulted in unprecedented volatility. These have been several of the drivers for the enormous increase in trading volume seen since March, as traders had more time on the hands of theirs on account of lockdowns and a lesser amount of travel in general, and were additionally looking for new interests to produce since they had newfound moment to dedicate. Thus, not only had been present traders increasing their volumes but several firms have seen record quantities of new traders enter the business. It was certainly the case for Exness about both volumes and new clients,” Moyes believed.
“Initially in March when the pandemic broke out worldwide, there was a significant upsurge in volatility which, along with all the newcomers, was driving volumes to unprecedented levels. Even though there was the inevitable slight drop off in the months right after, volume levels had continuously increased all over the year with levels far exceeding those before the pandemic. For a lot of firms, the increases may well be renewable due to the number of new clients. Additionally, circumstances around the extra time of individuals and working from home have changed almost no since earlier in the season, therefore, the same drivers for improved volumes continue to apply. We are getting about 80 % of the March volatility volume in Exness and currently operating near to a fifty % increase from this time last year,” the Chief Commercial Officer at Exness added.