IC Markets sees trading volume above $1 trillion mark in November
Trading volumes are through the roof at IC Markets, which provides FX services and ECN trading capabilities.
Total trading volume for November 2021 was a record $1.016 trillion, which eclipsed the previous high of $1 trillion achieved in March this year. Taking a year-to-date perspective, IC Markets reported $9.32 trillion in total trading volume for the year on the back of market volatility caused by the coronavirus outbreak.
November was a record-breaking month for IC Markets, with incredibly strong results in a wide range of asset classes. Much of solid turnover seen at major FX venues was driven by retail investors, who are continuing the high level of engagement.
Industry peers including Exness also saw trading volumes surge in the fourth quarter due to record client activity. According to Exness data, a total trading volume of $1.27 trillion exchanged hands in November 2021, which represented a jump of 22 percent month-on-month from the previous record set back in October at $1.04 trillion.
IC Markets CEO Andrew Budzinski commented, “We are delighted to be bringing more traders across a growing number of markets a greater choice of trading instruments so they can diversify their portfolio whilst taking advantage of the optimum trading conditions. Our traders are staying with us to take advantage of the highly competitive spreads we offer, and our ultra-fast order execution. We’ve worked hard to ensure we deliver a high-performance trading experience that attracts and rewards a loyal following of online traders.”
IC Markets has recently signed partnerships with 12 football teams that make up the Spain’s La Liga and Germany’s Bundesliga professional leagues for the remainder of the 2021-22 season.
IC Markets has been aggressively strengthening its offering over the past few months. The company continues to add new cryptocurrencies to its growing suite. On the regulatory front, the Sydney-based broker launched operations in Cyprus in 2019 after it secured a CySEC to begin a more Europe-oriented business and, obviously, attract more customers.
The Australian arm, however, has been swinging back and forth after the ASIC asked brokers to part with a lot of confidential information about their foreign clients so that their business could be fully scrutinized.