List Forex Trading Industry in 2021: Is It Possible to Sustain Growth?
This particular season has been a fascinating one for forex traders around the globe, coronavirus pandemic, unprecedented volatility and lockdowns fueled trading tasks and resulted in high volumes with the record-breaking fact of new traders. The retail forex industry was facing a hard challenge before 2020 because of regulatory concerns across the earth as businesses started out reporting a dip in volumes. Many brokers closed workplaces in various parts of the world due to regulatory problems.
In March 2020, because of a substantial outbreak of COVID-19, lockdowns restricted traveling, and individuals were sure to stay at home. Financial markets started out responding and that resulted in a number of trading opportunities throughout numerous assets. As a result of increased volatility of the forex industry, pre-existing traders started 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 and record volumes. Now that 2020 is about to end, the real question arises, can it be easy for the list forex trading market to keep the considerable growth it realized during 2020? We asked industry professionals for the take of theirs on the list forex trading industry 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 additionally 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 their hands as a result of lockdowns and less travel overall, and were additionally looking for new interests to develop since they had newfound time to dedicate. Thus, not only were present traders increasing the volumes of theirs but some firms have seen record levels of completely new traders enter the business. This was surely the case for Exness regarding both volumes as well as brand new clients,” Moyes said.
“Initially in March if the pandemic broke out worldwide, there was a big upsurge of volatility which, along with all of the newcomers, was driving volumes to unprecedented levels. Although there was the inevitable minor drop off in the days 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 may well be sustainable because of the number of new clients. In addition, circumstances around the extra time of men and women and working from home have changed almost no since earlier in the year, therefore, the same drivers for improved volumes still use. We are receiving about 80 % 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 added.