Kabu Reports an Uptick in FX Trading MoM 

Unlike a range of trading providers, online securities brokerage Kabu has managed to report an uptick across its key metrics. This was for the month of August across foreign exchange (forex) and stock trading.

This Wednesday, Kabu has published its business metrics for the month of August. Kabu has seen an increase in the over the counter (OTC) forex monthly trading value recorded on its platform. This was according to the figures presented.

For August, the OTC FX monthly trading value was ¥2.18 trillion. This is stronger than the month prior, which posted a monthly trading value of ¥2.13 trillion, by 2.1%.

Kabu’s monthly FX trading value was lower. But it’s stronger than the monthly trading value achieved in July, overall.

August’s figure is only in front of May and July since March 2020.

The monthly trading value of stocks also increased on a monthly comparison. It rose from ¥2.36 trillion in July to ¥2.52 trillion in August, or a 6.6% monthly growth.

Across the month of August, 6,621 new securities accounts were opened on the online brokerage. This brings the total number of accounts to 1,184,528.

The number of newly opened accounts across the broker was 7,386. That is 205 more than the previous month.

Kabu Beats the Trend

Kabu’s metrics for August stand out against other trading providers. It is one of the few brokers to actually post a month on month uptick in August.

Many have reported declining forex volumes in August. These include FXSpotStream LLC, Euronext FX, the Tokyo Financial Exchange Inc. and more.

Kabu is not alone in going against the general trend, as currency trading on Integral’s trading platforms rose over 15%. This was in August 2020 from last year.

The company said, increased volatility across financial markets has led to greater activity on the institutional FX venue.