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 planet, coronavirus pandemic, lockdowns and unprecedented volatility fueled trading tasks and resulted in high volumes with the record breaking fact of new traders. The list forex sector was dealing with a tough challenge before 2020 as a result of regulatory issues across the entire world as businesses started out reporting a dip in volumes. Several brokers shut office spaces in various regions of the earth because of regulatory problems.
In March 2020, because of a substantial outbreak of COVID-19, lockdowns restricted traveling, and people were bound to remain at home. Financial markets began reacting and that resulted in many trading opportunities throughout numerous assets. Because of excessive volatility in the forex market, existing traders started out increasing the exposure of theirs to take advantage of different trading opportunities as brand new traders entered the market. As a result, forex brokers registered new clients and record volumes. Now that 2020 is intending to end, the real issue arises, is it simple for the list forex trading sector to retain the considerable growth it attained 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 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 their hands as a result of a reduced amount of travel and lockdowns in general, and were additionally searching for new interests to develop 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 levels of new traders enter the industry. This was certainly the case for Exness regarding both volumes as well as brand new clients,” Moyes said.
“Initially in March if the pandemic broke out globally, there was an important upsurge of volatility which, along with all the newcomers, was driving volumes to unprecedented levels. Although there was the inevitable minor drop off in the days soon after, volume levels had steadily increased across the year with levels far exceeding those prior to the pandemic. For a lot of firms, the increases might well be sustainable because of the amount of new clients. Furthermore, circumstances around the extra time of individuals and working from home have changed hardly any since earlier in the year, consequently, the same drivers for increased volumes still apply. We’re getting about 80 % of the March volatility volume in Exness and currently working near to a fifty % increase from this time last year,” the Chief Commercial Officer at Exness added.