Kabu’s FX Volume for April Doubled YoY

Kabu, which operates a Japanese online brokerage, published its trading metrics for April, reporting an excellent jump in over-the-counter (OTC) forex trading demand from last year. However, there was a significant drop when compared to the previous month’s numbers.

According to the broker, monthly trading volume OTC forex instruments for last month came in at ¥46 trillion, a month-over-month drop of almost 19 percent. But when compared year-over-year, April’s forex more than doubled, gaining 104 percent.

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Following the trend in the trading industry, Kabu’s forex demand last March soared high only to drop in the consecutive month. The platform’s FX volume peaked that month with almost ¥55 trillion, which is even higher than numbers achieved in March 2020 when the markets were experiencing heavy volatility.

Industry Trend

Kabu’s latest numbers came in line with the industry trend as Finance Magnates reported a similar trading dip in April across several other global platforms.

April had 21 trading days, compared to March’s 23 trading days.

Apart from the forex market, the demand in the securities market also witnessed a drop in April. Compared to March, securities trading volume in the month came down by more than 30 percent to ¥24 trillion. Unlike the forex, securities demand plummeted on a yearly chart as well.

Further, the number of newly opened accounts also dropped. Last month, the Japanese brokerage opened 10,834, compared to 16,713 opened in the previous month. Kabu ended the month with a total 1,282,125 securities account.

The monthly disclosure by the broker additionally revealed that the asset under custody with it was ¥25.9 trillion by the end of April, which is a marginal drop month-over-month. The credit balance also remained ¥2.4 trillion.

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