ASIC-licensed forex and CFD broker, IC Markets, reported record trading volumes of $1.04 trillion in March 2021.The latest figures even beat the volumes seen in March of the previous year where COVID-19 led to a flurry of market activity.The recent monthly stats also mean IC Markets posted Q1 trading volumes of $2.84 trillion, another record for the broker.
Increased Demand Among Retail Traders
IC Markets saw uptake across its product range, including forex, stocks, cryptos, commodities and futures.The increase in demand also comes after the broker expanded its selection of digital currencies with Ethereum, Litecoin, Bitcoin Cash and Dash, in addition to introducing a collection of popular share CFDs.The move caught the attention of a number of prospective retail traders and helped the broker to diversify its client base.
Commenting on the 19 percent increase in the 2021 Q1 figures, IC Markets CEO, Andrew Budzinksi, noted “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.