To begin with, IC Markets is one of the most appealing Foreign exchange brokers of the current t...
To begin with, IC Markets is one of the most appealing Foreign exchange brokers of the current time. Their popularity is crushing through each and every bound.
And for the first time in their history, they have amassed a trading volume that is worth $2.84 trillion, setting a record.
Demand Among Retail Traders Pumped The Broker's Numbers
According to the brokerage, the spike in the trading volumes resulted from an influx of clients and its product diversification, which attracted a diversified base of traders.
The press release shared with Finance Magnates detailed that the Aussie broker witnessed a demand surge across all asset classes, including Forex, stocks, commodities, digital currencies, and futures.
In addition, the brokerage expanded its offerings with cryptocurrencies and share CFDs, which might have brought in more traders.
Overall, the first quarter of the year, from January to March, witnessed a record trading volume of $2.84 trillion, 19 percent higher than what the broker recorded in the same quarter the previous year.
Commenting on the record numbers and its offerings, IC Markets CEO, Andrew Budzinski, said: “Our focus has been on providing our customers with the best possible trading experience.
By offering more choice, our clients can now diversify their portfolio into new asset classes.”
Though lockdowns to check the spread of Coronavirus stalled the global economy severely, brokers gained a windfall due to traders’ accessibility and activity in a volatile market.
IC Markets reported a total annual volume of $9.32 trillion for 2020 and is now expecting to set another record year if the Q1 trend continues. (Source)
