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#1 19-06-2020 05:29:04

johnedward
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Forex traders set transaction records during the virus situation

Forex traders set transaction records during the virus situation


While it looks like the worst of the global virus situation is behind us, a closer look at the actions of traders shows even better results. As cPattern's recent data show, individual traders in the forex broke all activity records, but also began to withdraw money.

At the end of the first quarter, the average deposit made to individuals' forex trading accounts rose to $2,499 from $2,309 a month earlier. But in April, that value dropped to $2,310. Surprisingly or not, in April the average size of withdrawals went from $2,531 to $2,801.

http://www.forex-central.net/forum/userimages/fx-report.jpg


It can be assumed that individual traders reap the profits made during a period of high activity. However, the data on the average first time deposit (FTD) also shows growth, which suggests that this could also explain the increase in withdrawals. The average FTD went from $1,311 in March to $1,741.

Individual traders on the forex were especially active

But the biggest changes were seen again in trading activity. While February's data already indicated a higher number of trades, At the end of the first quarter, average trading activity shot up to an impressive 276.6 trades per trader.

In April, the average number of trades per trader rose to 230.1 per month. Traditionally, the most active traders have been in Asia. Thai traders made 253.2 trades in March, while in April Chinese traders made even more trades, or 268.2 per month.

http://www.forex-central.net/forum/userimages/average-trade.jpg


The virus situation in China improved significantly in April. Meanwhile, Tencent, a Chinese multinational conglomerate holding company, has committed to investing $69 billion in new technologies, including blockchains. Accelerating the "new infrastructure" strategy will help strengthen the success of containing the virus", says a company executive in a recent press release.

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"Anything worth having is worth going for - all the way." - J.R. Ewing

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