We are pleased to present Doo Prime’s September 2024 trading volume report, which reflects a strong month of trading activity and solid performance across our platform.
September Trading Volume Overview 2024
- Total Trading Volume: USD 128.66 billion
- Most Popular Products: XAU/USD, EUR/USD, USD/JPY
- XAU/USD saw the highest trading volume at USD 103.23 billion.
- HSI_2409 saw the highest increase, an increase of USD 0.17 billion, or 138.16%
According to the report, Doo Prime’s total trading volume in September 2024 is valued at USD 128.66 billion, a decline of 17.58% from the previous month. Furthermore, September’s average daily volume (ADV) is USD 4.29 billion, a decrease of 14.83% from August.
On September 18, the Federal Reserve (Fed) enacted its first interest rate cut in 4 years, lowering the federal funds rate with a 50-basis point reduction to 4.75%-5%. This enactment was to ease the economic pressure in the US. However, the market indicated that this is a sign that the US is facing a weakening economy.
Due to that, investors’ concern about future economic growth has risen and raised questions on whether there will be further rate cuts and the ability to achieve a soft landing.
Therefore, investors have taken a “wait and see” approach in September, and trading activities have descended. Doo Prime’s September ADV has also declined as compared to August, causing the overall trading volume to drop.
Year to date, however, Doo Prime’s total trading volume is valued at USD 983.30 billion, an expansion of 38.36% as compared to the same period last year.
According to the recorded data, XAU/USD, EUR/USD, and USD/JPY were the investors’ top picks, contributing 90.98% of September’s total trading volume. Among them, XAU/USD has the highest monthly trading volume at USD 103.23 billion; while EUR/USD and USD/JPY have a total monthly volume of USD 13.83 billion.
Besides, HSI_2409 has the largest growth in the monthly trading volume, an increase of USD 0.17 billion or 138.16% as compared to August.
As an ever-growing online broker, we continue to demonstrate strong momentum in trading volume. With our seamless trading platform, well-established industry partnerships, and experienced technical team, we are committed to always providing the best trading experience.
Risk Disclosure
Securities, Futures, CFDs and other financial products involve high risks due to the fluctuation in the value and prices of the underlying financial instruments. Due to the adverse and unpredictable market movements, large losses exceeding your initial investment could incur within a short period of time.
Please make sure you fully understand the risks of trading with the respective financial instrument before engaging in any transactions with us. You should seek independent professional advice if you do not understand the risks explained herein.
Disclaimer
This information contained in this blog is for general reference only and is not intended as investment advice, a recommendation, an offer, or an invitation to buy or sell any financial instruments. It does not consider any specific recipient’s investment objectives or financial situation. Past performance references are not reliable indicators of future performance. Doo Prime and its affiliates make no representations or warranties about the accuracy or completeness of this information and accept no liability for any losses or damages resulting from its use or from any investments made based on it.
