Surprising activity by retail traders in South Korea
The last month of the summer holidays brought a continuation of critical trends in the FX industry. As the latest cPattern data shows, retail investors continued to transfer money to their trading accounts in August.
According to data analyzed by Finance Magnates Intelligence, the largest deposits in August were made by retail traders from South Korea. The average local FX trader has uploaded $ 13,422 to his account. Kuwait traders came second, with an average of $ 12,884.
Payouts in an uptrend
At the same time, South Korean customers were also the authors of the largest monthly payouts. On average, in August, they amounted to USD 9,624. Korean traders were again followed by Kuwait traders, where the average monthly payout was $ 8,638. Hong Kong investors came third with an average payout of $ 8,309.
In August, the average monthly payment in the top ten countries remained above the $ 10,000 mark ($ 10,139 in August, up from $ 10,344 in July). The average monthly payout has slightly decreased from $ 6,872 to $ 6,867. However, the overall payout trend is increasing.
Traders carry out more trades
In terms of traders’ activity, no major changes were observed in August. The average number of trades per trader in the top ten countries rose to 229.3 from 224.8 recorded in July. Once again, the most active traders were followed in China, where the typical trader made 267 trades.
The Industrial and Commercial Bank of China (ICBC) announced that it will impose certain restrictions on retail companies involved in Forex and Commodity trading. Finance Magnates Intelligence announces further monitoring of activity in the industry in the coming months.