IC Markets November Trading Volume Surpasses $1 Trillion, Sets Record
The trading volume of last month eclipsed the previous record set by the broker in March.
Sydney-based IC Markets, a forex and CFDs broker, announced on Monday that it recorded its highest monthly demand in November as trading volume for the month touched $1.016 trillion.
According to the press release shared with Finance Magnates, the broker witnessed a surge in trading volumes across all asset classes, which received a boost from product diversification, growth in new markets and optimum trading conditions.
“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,” said IC Markets CEO, Andrew Budzinski.
The $1 Trillion Mark
IC Markets is one of the very few retail brokers to handle more than $1 trillion in monthly trading volumes. The Aussie broker first surpassed this milestone last March. In addition, its business benefited from a surge in retail trading demand with increased market volatility after the impact of the pandemic on global economies.
Additionally, the growth in volume was significant in 2020 as it ended the year with a total trading volume of $9.32 trillion.
“Our traders are staying with us to take advantage of the highly competitive spreads we offer and our ultra-fast order execution. Weve worked hard to ensure we deliver a high-performance trading experience that attracts and rewards a loyal following of online traders,” Budzinski added.
Meanwhile, the broker is focusing on strengthening its brand across global markets, especially in Europe. Furthermore, it has inked sponsorship deals with 12 football clubs in Spain and Germany. Recently, the broker became a member of the Financial Commission, offering €20,000 fund protection for every client.
