We are pleased to present Doo Prime’s August 2024 trading volume report, which reflects a strong month of trading activity and solid performance across our platform.
August Trading Volume Overview 2024
- Total Trading Volume: USD 156.11 billion
- Most Popular Products: XAU/USD, EUR/USD, US30
- XAU/USD saw the highest trading volume at USD 110.17 billion.
- XAU/USD saw the highest increase, an increase of USD 15.30 billion, or 16.10%
According to the report, Doo Prime’s total trading volume in August 2024 is valued at USD 156.11 billion, an increase of 22.01% from the previous month. Furthermore, August’s average daily volume (ADV) is USD 5.04 billion, a rise of 22.01% from July.
The financial market has been volatile in August. Due to the weak US unemployment rate triggering the Sahm rule and Japan’s central bank interest rate hikes, the global market experienced “Black Monday” in the beginning of August. This has caused risk aversion to rise, leading to investors seeking a safe haven in the market.
In late August, Jeremy Powell, the Fed Chairman, hinted at the interest rate cut in September, causing the market to rally. Despite that, traders have been actively trading in the month of August, and XAU/USD continues to become the product with the largest trading volume and highest growth.
Doo Prime continued its rally in trading volume from July and poised a rise in August. Year to date, Doo Prime’s total trading volume is valued at USD 854.60 billion, an expansion of 35.23% as compared to the same period last year.
According to the recorded data, XAU/USD, EUR/USD, and US30 were the investor’s top picks, contributing 87.07% of August’s total trading volume. Among them, XAU/USD has the highest monthly trading volume at USD 110.17 billion; while EUR/USD and US30 have a total monthly volume of USD 25.75 billion.
Besides, XAU/USD has the largest growth in the monthly trading volume, an increase of USD 15.30 billion or 16.10% as compared to July.
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.
