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Australian forex broker IC Markets reports volumes hitting record $188 billion (£149.96 billion)

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ASIC regulated Retail Forex broker IC Markets has reported that it saw record trading volumes of USD $188 billion (£149.96 billion) for the month of November, including $16.5 billion (13.15 billion) on the day of the US election. The information was posted on its corporate blog.

The company cited strong domestic growth and an uptick in volatility as the main driver for the record volumes.

It also highlights the growth of leading Australia based brokers including AxiTrader, Pepperstone and IC Markets in the past couple of years. Both the Australian domestic market, and the other Far East markets (including China) served by Australian based brokers, have driven much of that growth.

IC Markets Managing Director, Andrew Budzinski said, “2016 has been the biggest year on record for the company. Closing out the year on record volumes is testament that our strategy of focusing on the domestic market and customer service is paying off”.

Andrew Ralich, the CEO of oneZero Financial, the Company’s primary execution and connectivity provider was quoted as saying, “IC Markets has been an incredible growth story and is a client that we are extremely proud to have partnered and developed with over the last few years. The volumes that we see today through ICM’s oneZero Hub are a testament to their commitment to focusing on quality liquidity, execution and client relationship management. We are looking forward to continuing to work side-by-side with Andrew and his team to support another year of expansion in 2017”.

Paul

The author Paul