Australian FX traders exiting market
Falling volatility in the foreign exchange market has seen the number of Australian traders drop 4 per cent in a year, an Investment Trends report shows.
The reduction, from 53,000 to 51,000 in December 2013, was similar to trends seen in other English-speaking nations such as the US and UK, according to the December 2013 Australia FX Report.
Australia still has the second highest number of FXs, behind the UK, which has 72,000.
Another stand out trend was the increasing use of the MetaTrader platform, which saw a 7 per cent rise in main platform usage, up to 48 per cent in 2013.
MetaTrader specialists also saw the highest platform rises, led by AxiTrader, which gained 4 percentage points, to hold a 12 per cent primary share. IG still led in primary share, on 18 per cent.
In terms of satisfaction, FXCM continued to lead, but AxiTrader gained significant ground to lift its standing four places to hold the runner-up position.
Recommended for you
AUSIEX has announced it will acquire FIIG, a specialist fixed income provider with $4.5 billion in funds under advice.
Platinum Asset Management has announced it is in discussions with a global alternatives fund manager regarding a possible merger to create an $18 billion firm.
Frontier Advisors has bolstered its Japanese footprint through a partnership with the $350 billion asset management arm of Nippon Life Insurance Company.
JP Morgan Asset Management has appointed an ETF specialist from Vanguard as it seeks to expand its ETF range.
