Analysis: Monthly FX/CFD Deposits Kept Growing in October

<p>In our previous analysis, we found out that September brought about a widely expected revival in the FX/CFD industry. Not surprisingly, October brought even better numbers all across the board. <a href="https://www.financemagnates.com/intelligence/" target="_blank" rel="follow">Finance Magnates Intelligence</a> examines the most recent data from <a href="https://www.cpattern.com/" target="_blank" rel="nofollow">CPattern</a> to bring you a detailed picture of key industry metrics.</p><p>The most impressive changes took place in the case of monthly data. The average monthly deposit grew to $15,248 from $13,504, as seen in September. This marks the third consecutive month of growth and, at the same time, the highest reading in the last 12 months. The previous highest reading was registered in May at $13,551.</p><p>In the previous analysis, we observed that the total monthly withdrawal reached its lowest-ever reading, standing at $3,695. Such a low level was very unusual, and as expected, data for October showed a rebound to $7,225. Still, the average size of the monthly deposit is twice as big as the size of the average withdrawal, indicating a positive ratio for the FX/CFD industry, as retail traders are eager to spend more money.</p><p>Switzerland Tops the Rank</p><p>In which country were they most eager to spend? Once again, it was Switzerland. This time, the average total monthly deposits for clients from this country amounted to $19,471, slightly lower than October’s $21,864. Second in the rank were traders from Bahrain, who, on average, deposited $18,157 in October. Third in the rank was Hong Kong, with a result of $18,054.</p><p>While on the subject of Hong Kong, one of the biggest multi-asset brokers globally, <a href="https://www.financemagnates.com/cryptocurrency/interactive-brokers-hong-kong-enters-retail-crypto-trading-arena/" target="_blank" rel="follow">Interactive Brokers</a>, has been licensed to facilitate retail crypto trading in Hong Kong. This move was confirmed on LinkedIn by David Friedland, the firm's Managing Director for the Asia Pacific.</p>

This article was written by Sylwester Majewski at www.financemagnates.com.