The growth rates were more pronounced in developing countries, with traders’ accounts from Africa, Eastern Europe, and Southeast Asia making up 60% of the new accounts. The steep increases in trading activity and account numbers placed pressure on forex brokers. Employees working remotely and liquidity demands mean that smaller forex brokers may not be a safe choice for traders.
Extensive growth such as this is rare for the forex industry, as related in the official press release. Over the past decade, average daily forex trading volume increased by no more than 40%. The circumstances leading up to this rise have been unprecedented.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now
We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the Telecompaper website, they in no way represent the opinion of Telecompaper.