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    Analysis: Unexpected Growth in October Forex Deposits

    Abstract:Forex traders decided to deposit more capital, The situation is different from October last year.
    retail

      After somewhat of a slowdown and stabilization was seen in September, the October data from cPattern shows interesting changes. Finance Magnates Intelligence examines the latest developments in key forex client-related metrics.

      In October, growth in almost all areas was observed. Firstly, the average single deposit increased from the $2,071 seen in September to $2,932. However, even larger growth was seen in withdrawals where the average single withdrawal from an FX account grew from $2,339 to $3,257. Only in the case of first-time deposits (FTD) was there a fractional decrease of $46 down to $1,732.

    Forex

      Additionally, more funding from forex clients could be seen in the monthly data. In October, the average total monthly deposit to an FX account grew from $10,316 seen in the previous month to $14,401. This was the highest reading in 2021. Also, an average monthly withdrawal increased, from $5,791 up to $8,349.

    Monthly

      More Key Forex Clients Related Metrics

      The main activity of forex traders in sending money was not accompanied by more trading activity. The latest data shows the average number of transactions decreased from 246 to 241. However, there was a change in the rank, with Romania moving to first place, followed by China. In October, Romanian traders conducted 272 forex transactions on average. The last place was held by Pakistan in 10th position with a result of 216 transactions per month.

    Forex

      Usually, the data for November and December showed some growth in deposits, so it will be interesting to see the data for these months. Finance Magnates Intelligence will be monitoring industry activity in the upcoming months. Stay tuned for more industry-related research, or reach us directly for additional research requests.

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    United States Dollar

    • United Arab Emirates Dirham
    • Australia Dollar
    • Canadian Dollar
    • Swiss Franc
    • Chinese Yuan
    • Danish Krone
    • Euro
    • British Pound
    • Hong Kong Dollar
    • Hungarian Forint
    • Japanese Yen
    • South Korean Won
    • Mexican Peso
    • Malaysian Ringgit
    • Norwegian Krone
    • New Zealand Dollar
    • Polish Zloty
    • Russian Ruble
    • Saudi Arabian Riyal
    • Swedish Krona
    • Singapore Dollar
    • Thai Baht
    • Turkish Lira
    • United States Dollar
    • South African Rand
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