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. IC Markets reported a total annual volume of $9.32 trillion for 2020 and is now expecting to set another record year if the Q1 trend continues.”
About IC Markets
IC Markets is among the best online trading brokers. With over a decade operating in the financial markets, the company has refined its offering to provide a top-tier trading experience for clients. Users can access MetaTrader 4, MetaTrader 5, and cTrader. All platforms are available on desktop and mobile devices and promise instant and pending order types, in addition to automated trading.
IC Markets is regulated in Australia as well as holding a license with the CySEC in Europe. The forex broker offers an extensive portfolio of trading products alongside leverage up to 1:500 and zero-pip spreads. Throw in a long list of deposit and withdrawal methods plus a choice of live accounts to suit varying needs, and it’s perhaps unsurprising that the broker’s trading volumes are on the rise.
