List Forex Trading Industry in 2021: Is It Possible to Sustain Growth?
This particular year has long been an intriguing one for forex traders across the planet, coronavirus pandemic, unprecedented volatility and lockdowns fueled trading activities and resulted in volumes that are high with the record-breaking addition of new traders. The list forex industry was dealing with a hard challenge before 2020 due to regulatory concerns across the entire world as businesses started out reporting a dip in volumes. Many brokers shut office spaces in various parts of the world due to regulatory issues.
In March 2020, because of a considerable outbreak of COVID 19, lockdowns limited traveling, and individuals were bound to remain at home. Financial markets started reacting and that resulted in many trading possibilities throughout different assets. As a result of high volatility of the forex sector, existing traders started increasing the exposure of theirs to make use of different trading possibilities as new traders entered the industry. To be a result, forex brokers registered record volumes as well as new clients. These days that 2020 is about to end, the actual question arises, do you find it easy for the list forex trading sector to maintain the significant growth it realized during 2020? We asked industry experts for their take on the list forex trading industry in 2021.
“One key consequence of the pandemic has been the move to working from home, both for traders and brokers alike. The COVID-19 outbreak has also resulted in unprecedented volatility. These have been several of the drivers for the enormous surge in trading volume seen since March, as traders had far more time on the hands of theirs as a result of a lesser amount of travel and lockdowns in general, and were also searching for new interests to create since they had newfound time to dedicate. So, not just had been present traders increasing the volumes of theirs but some firms have seen record levels of new traders enter the industry. It was definitely the case for Exness regarding both volumes and new clients,” Moyes believed.
“Initially in March if the pandemic broke out globally, there was a big upsurge in volatility which, together with all of the newcomers, was driving volumes to unprecedented levels. Even though there was the inevitable small drop off in the days right after, volume levels had continuously increased throughout the year with levels far exceeding those before the pandemic. For many firms, the increases might well be renewable due to the amount of new clients. Additionally, circumstances around the extra time of people and working from home have changed hardly any since earlier in the season, consequently, the same drivers for increased volumes still use. We are getting about eighty % of the March volatility volume in Exness and now working near to a 50 % increase from this time last year,” the Chief Commercial Officer at Exness added.