Forex.com trading volumes off 5% in May 2020
In what may be one of its last such reports as an independent publicly traded company, Gain Capital has reported that trading volumes at its Forex.com and City Index retail FX brands totaled $179.3 billion in May 2020, down 5% from April’s $188.1 billion.
Gain also saw a continued rise in active clients, with 3-month active clients coming in at 96,774 (up 3% over April), and 12-month active clients totaling 143,043 (also up 3%).
Forex.com had a blitz of client trading activity in March of this year, when volumes doubled recent averages to $388 billion as markets became volatile in the wake of the Covid-19 crisis. However it seems as though activity has settled down in April and even further during May at Forex.com. Client activity at Gain Capital is still much improved over last year – in 2019 monthly volumes averaged $153 billion.
Late last week Forex.com saw its parent company shareholders vote heavily in favor of a $236 million, $6-per-share acquisition by larger rival INTL FCStone. That deal is scheduled to close at some point in Q3, subject to regulatory approval.