Evaluation: Foreign exchange Merchants from South Korea Prime the Rankings
The FX/CFD Industry Slows Down in the Third Quarter of 2022
Still, important client-related measures saw a minor improvement in the last month of this era. The biggest shift that occurred in August was a decrease in the amount of first-time deposits (FTDs). After reaching $1,354 in July, it fell to $663. A minor recovery was observed in September, returning this measure to $838. It wasn’t a “game-changing” turnaround, but at least there was no more decline.
Both the monthly total of deposits and withdrawals from current clients declined, despite a slight increase in first-time deposits from new customers, suggesting a slight shift in their mindset. The monthly average total deposit decreased from $12,712 to $11,429 on average. The monthly average total withdrawal dropped to $7,428 from $9,812 on average.
In the meantime, there were 259 transactions on average per broker, up from 250. The South Korean traders were the busiest in September, with an average of 289 trades made by each of them. Canada came in second in the activity rank with a score of 282. China, which typically tops our activity index, was surprisingly in eighth position this time around with 247 transactions per month.
