While the first quarter of 2023 is now in the past, it is critical for us to examine it before continuing with our periodic analysis of recent months. According to the CPattern data In February and March, Finance Magnates Intelligence identified initial signs of improvement in key forex metrics.
First of all, we noticed that the average level of activity of traders, as measured by the number of transactions, continued to grow during the first quarter. In February, retailers conducted an average of 275 transactions, up 12 from January. In March, this growth continued with one retailer reaching the milestone of 290 deals.
Obviously, the general activity of traders showed a steady increase during the first three months. The largest number of transactions made by an individual trader over the past 12 months was recorded in October, with a total of 300 transactions.
In March, the Philippines saw the highest level of trading activity, while in February, it was Austria that took the lead with an average of 292 transactions per trader. Historically, our rankings have shown that the most active traders hail mostly from Asia, especially from China. However, do these latest findings challenge this trend and signal a shift in favor of other markets?
Forex traders deposit more capital into accounts
In addition, there was a remarkable recovery in the value of total monthly deposits and withdrawals. In March, the monthly deposit exceeded the “$10,000 mark” for the first time this year, reaching $10,557. Moreover, monthly withdrawals witnessed an even greater growth, rising from the level of $4,061 to $7,255. However, it is important to note that we are still far from reaching the peak levels achieved last year, which were over $14,000 for deposits and $9,812 for withdrawals.
In terms of the highest monthly deposits in March, retailers from Hong Kong took the lead. On average, they deposited $14,833 that month, which was closely followed by traders from Turkey who deposited a total of $14,183.
Interestingly, in February, Hong Kong saw its highest ever monthly deposit rate. Retail forex traders from Hong Kong deposited $13,796, followed by Canadian traders with a total of $9,894. Türkiye took the fifth position with an average monthly deposit value of $8,601.
Speaking of Hong Kong, a new encryption system has been implemented recently. Cryptocurrency exchanges that operate within the jurisdiction are now required to obtain a license to offer their services to retail traders. The regulations exclude stablecoins and crypto-derivatives, including CFD-based crypto-instruments.
While the first quarter of 2023 is now in the past, it is critical for us to examine it before continuing with our periodic analysis of recent months. According to the CPattern data In February and March, Finance Magnates Intelligence identified initial signs of improvement in key forex metrics.
First of all, we noticed that the average level of activity of traders, as measured by the number of transactions, continued to grow during the first quarter. In February, retailers conducted an average of 275 transactions, up 12 from January. In March, this growth continued with one retailer reaching the milestone of 290 deals.
Obviously, the general activity of traders showed a steady increase during the first three months. The largest number of transactions made by an individual trader over the past 12 months was recorded in October, with a total of 300 transactions.
In March, the Philippines saw the highest level of trading activity, while in February, it was Austria that took the lead with an average of 292 transactions per trader. Historically, our rankings have shown that the most active traders hail mostly from Asia, especially from China. However, do these latest findings challenge this trend and signal a shift in favor of other markets?
Forex traders deposit more capital into accounts
In addition, there was a remarkable recovery in the value of total monthly deposits and withdrawals. In March, the monthly deposit exceeded the “$10,000 mark” for the first time this year, reaching $10,557. Moreover, monthly withdrawals witnessed an even greater growth, rising from the level of $4,061 to $7,255. However, it is important to note that we are still far from reaching the peak levels achieved last year, which were over $14,000 for deposits and $9,812 for withdrawals.
In terms of the highest monthly deposits in March, retailers from Hong Kong took the lead. On average, they deposited $14,833 that month, which was closely followed by traders from Turkey who deposited a total of $14,183.
Interestingly, in February, Hong Kong saw its highest ever monthly deposit rate. Retail forex traders from Hong Kong deposited $13,796, followed by Canadian traders with a total of $9,894. Türkiye took the fifth position with an average monthly deposit value of $8,601.
Speaking of Hong Kong, a new encryption system has been implemented recently. Cryptocurrency exchanges that operate within the jurisdiction are now required to obtain a license to offer their services to retail traders. The regulations exclude stablecoins and crypto derivatives, including CFD-based cryptocurrencies.