May Brought the Highest Deposits over a Year

<p>In May, both the average size of a deposit and withdrawal were lower than in April. However, we still observe increased activity in the FX/CFDs industry. <a href="https://www.financemagnates.com/intelligence/" target="_blank" rel="follow">Finance Magnates Intelligence</a> delves deeper into the latest <a href="https://www.cpattern.com" target="_blank" rel="nofollow">CPattern</a> data to uncover the most significant changes in customer behavior.
</p><p>While both of our leading indicators were slightly lower, they managed to remain at their highest level over the last five months for deposits and even the last twelve months for withdrawals. The average single withdrawal is still higher than a deposit, standing at $3,159.42 in May. The average deposit fell during that period to $2,214.65.</p><p>We
also noticed a gradual growth in the size of the average first-time deposits. It
appears that April established a higher low on the chart compared to August
2022. If this momentum persists, the average value of a first-time deposit
could approach the $2,000 mark.</p><p>Turning
to monthly cumulative figures, we have witnessed significant improvements for
both deposits and withdrawals. Cumulative monthly deposits from a single trader
grew to $13,551, which is up from $10,557 in April, marking the highest value
since May 2022. Meanwhile, a monthly withdrawal value increased to $8,549
from $7,255 last month, reaching the highest level since August 2022 and
elevating a NET deposit value to $5,002 from $3,302.</p><p>Turkey on the Rise</p><p>Which
country ranked first in monthly deposits for May? It was Turkey, with an
average monthly deposit of $2,025 from a single FX/CFDs trader. Speaking of
Turkey, it's worth mentioning that the country remains the dominant player in
the region. Not only does it have a thriving FX/CFDs industry, but also a
vibrant fintech sector. Just recently, in August, a Turkish fintech company, <a href="https://www.financemagnates.com/fintech/biggest-turkeys-fintech-param-acquires-czech-twisto-in-european-expansion/" target="_blank" rel="follow">Param acquired
Czech Twisto</a>, further solidifying its presence in the fintech space.</p>

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