The trading volume on Australia-headquartered TMGM, a forex and contracts for differences (CFDs) broker, reached $512 billion in November. As the broker’s Head of Partners, Daniel Krugar, described it, this is a “massive milestone.”
However, the growth in trading volume compared to previous months remains undisclosed.
Rising CFD Trading Volume
TMGM is not the only CFDs broker to experience a substantial increase in trading activities. CFI, a broker prominent in the Middle East, revealed that the trading volume on its platform exceeded $1 trillion in the third quarter of the current year. This marks a rise of about 35 per cent from the previous quarter and nearly 130 per cent year-on-year.
Capital.com, another broker demonstrating rapid growth, reported over $450 billion in trading volume in Q3 2024, representing a 20 per cent increase from the previous quarter. The volume was $337 billion in Q1, meaning the platform’s nine-month trading volume has already surpassed last year’s total of $1.2 trillion.
Cyprus-headquartered Exness was likely the first non-Japanese CFDs broker to surpass the $1 trillion trading volume milestone, achieving $4.8 trillion in October 2023. However, the broker ceased publishing its trading volumes earlier this year. Similarly, Denmark-based Saxo Bank also stopped disclosing its trading volumes after experiencing a decline in its forex trading activity.
A Global Broker
TMGM is a well-known name in the CFDs brokerage industry. It operates from its headquarters in Australia under the regulation of the Australian Securities and Investments Commission (ASIC). Additionally, it holds licences in two offshore jurisdictions, Vanuatu and Mauritius, through which it provides trading services globally.
The Australian broker has also enhanced its brand presence with an ongoing sponsorship deal with English football club Chelsea.
However, TMGM faced regulatory action from the Australian regulator earlier this year for breaches of the country’s Design and Distribution Obligations (DDOs). As a result, the agency temporarily prohibited the broker from onboarding new clients under its Australian licence.
The trading volume on Australia-headquartered TMGM, a forex and contracts for differences (CFDs) broker, reached $512 billion in November. As the broker’s Head of Partners, Daniel Krugar, described it, this is a “massive milestone.”
However, the growth in trading volume compared to previous months remains undisclosed.
Rising CFD Trading Volume
TMGM is not the only CFDs broker to experience a substantial increase in trading activities. CFI, a broker prominent in the Middle East, revealed that the trading volume on its platform exceeded $1 trillion in the third quarter of the current year. This marks a rise of about 35 per cent from the previous quarter and nearly 130 per cent year-on-year.
Capital.com, another broker demonstrating rapid growth, reported over $450 billion in trading volume in Q3 2024, representing a 20 per cent increase from the previous quarter. The volume was $337 billion in Q1, meaning the platform’s nine-month trading volume has already surpassed last year’s total of $1.2 trillion.
Cyprus-headquartered Exness was likely the first non-Japanese CFDs broker to surpass the $1 trillion trading volume milestone, achieving $4.8 trillion in October 2023. However, the broker ceased publishing its trading volumes earlier this year. Similarly, Denmark-based Saxo Bank also stopped disclosing its trading volumes after experiencing a decline in its forex trading activity.
A Global Broker
TMGM is a well-known name in the CFDs brokerage industry. It operates from its headquarters in Australia under the regulation of the Australian Securities and Investments Commission (ASIC). Additionally, it holds licences in two offshore jurisdictions, Vanuatu and Mauritius, through which it provides trading services globally.
The Australian broker has also enhanced its brand presence with an ongoing sponsorship deal with English football club Chelsea.
However, TMGM faced regulatory action from the Australian regulator earlier this year for breaches of the country’s Design and Distribution Obligations (DDOs). As a result, the agency temporarily prohibited the broker from onboarding new clients under its Australian licence.
This post is originally published on FINANCEMAGNATES.
