We’re almost halfway through the year 2020, and Forex broker ActivTrades is set to be welcoming the second half on a good note after it announced that it has recorded a revenue of £30 million in the first half. This was almost three times the revenue the company recorded in the first half of 2019 at £8 million. It has even passed its revenue of £20.6 million for the whole of 2019.
Record-Setting Revenue
The year 2020 has been a good one for Forex broker ActivTrades. In fact, it’s expected to be the company’s most profitable year ever, with a record-high profit of £18 million in the first half.
The London-based broker is among the many top rated Forex brokers that are been benefiting from a surge in market volatility. The COVID-19 pandemic, which has shocked the global financial market and put many people at home, might have caused an increase in trading volumes.
Expansion and ActivTrader Platform
Like other innovative Forex brokers, ActivTrades has been expanding its offerings to provide something new to its growing client base from across the globe. Just this year, it has added CFDs on more than 100 new shares and WTI and Brent CFDs.
Moreover, in addition to MT4 and MT5 trading platforms, ActivTrades has developed its own platform known as the ActivTrader platform. The platform supports trading not just on Forex, but also commodities, shares, options, and indices. The platform allows the use of hedging and trailing stops.
Lastly, the company provides clients strong fund security through its balance protection and client protection account features.
Forex Trading in 2020
Last year was a bad year for Forex companies, mainly because of the low trading activity that resulted in weak revenue performance. But the year 2020 is a wholly different story. As COVID-19 worsens, and as other financial markets feel the economic burden, the Forex market actually thrives, and brokers are reaping the rewards.
Apart from ActivTrades, many other brokers have reported extraordinary performance so far this year including Saxo Bank, ATFX, and social trading leader eToro.
The pandemic, without a doubt, has to do with the sudden increase in volatility in the Forex market. This in turn has opened the door for traders to trade and leverage on big price movements.
Also, lockdowns have been implemented in most countries to control the spread of coronavirus. Because of this, people have been confined to their homes. This has caused them to seek other ways to generate income. Existing traders are trading more to grow their wealth, while others new to the Forex world are learning all that they can to leverage trading opportunities.
But how long will Forex volatility last? Is it here to stay for the rest of the year? This is a question that we can’t answer. You see, the market is unpredictable, and no one can guarantee the future. For now, just enjoy the ride and take advantage of the current situation.
