Finance Magnates Intelligence looked into the most recent cPattern data in search for industry patterns. Retail FX traders showed one more strong performance during the summer of this year.
While in June single deposits and withdrawals did not show any improvement, we can see that in July both indicators were on the up. The size of the average single deposit increased to $2,548.98 from $2,184.01. Simultaneously, the average single withdrawal from FX accounts grew to $2,771.41 from $2,554.18.
Simultaneously, an average first time deposit (FTD) decreased in July to $2,070.82 from $2,564.27 seen in June. This may indicate that during the summer there was lower activity and/or there was little demand from clients to open new accounts, which is a normal situation in the summer.
When it comes to the activity of trading itself, we can see stabilization among investors. In July, the average number of transactions per single trader among the top 10 countries was 224.8, which was a more conducive result than June’s 205.2 transactions. However, the most notable result for these ten countries fractionally decreased to 248.8 from 251.1 seen in June. Surprisingly, the premier ranked country this time was Pakistan and was not China as per usual.
Retail FX Traders Still Send Deposits
The total average combined monthly deposit to FX accounts remained high and was above the $10,000 mark, showing a small decrease to $10,344 from $10,902. Moreover, the average monthly withdrawal from FX accounts grew to $6,872 from June’s $5,337. This was the highest result for withdrawals in 2021 so far.
Finance Magnates Intelligence will be monitoring industry activity in the upcoming months. Stay tuned for more industry-related research, or reach us directly for additional research requests.
Source: Read Full Article