May 20, 2009 trading volumes continue to rise in 2009 as retail FX maintains investor interest

  • Volumes continue to grow during Q1 2009
  • Carry trade remains out of favour with investor
  • “Big three” currency pairs back in vogue as valuation trading takes precedence, the online retail foreign exchange (FX) trading platform of Deutsche Bank, reported a 37 per cent increase in volumes in the first quarter of 2009 over the same period last year, as retail traders continue to favour FX over equities and bonds.

The platform’s figures also show a continued move away from trading the carry trade in Q1 2009 over Q4 2008, once one of the most favoured strategies employed by traders, with trading on the Pound / Australian Dollar, New Zealand Dollar / US Dollar and USD / Japanese Yen down 81 per cent, 74 per cent and 28 per cent respectively. 

Instead, investors have looked to the mainstream ‘big three’ currency pairs as a means of generating returns, with the Euro / US Dollar, Pound / US Dollar and US Dollar / Yen the most traded pairs on the platform and making up over 75 per cent of total trades. Of these, the Euro / US Dollar claimed just over half of all trades on the platform, with the US Dollar / Yen claiming only 5 per cent of volume in the first quarter.

Betsy Waters, Global Director of, said:  “From the trading perspective, the carry trade has been a stable of FX traders’ portfolios for some time and has brought many new entrants to the market.  However, traders have begun moving to alternative strategies such as valuation trades - where investors seek out seemingly undervalued currencies - and such behaviour reflects a growing understanding and knowledge of the FX space, and the strategies that dominate it, by traders.

“There’s no doubting the growth of retail FX as an asset class over the past 12 months or so, and it’s encouraging to see this growth and development continue unabated.  FX is proven to be uncorrelated to equity and bond markets, and this message is continuing to reach the retail investor in the current climate.”  

Launched in May 2006, is available in multiple languages, has 34 currency pairs and is accessible in more than 82 countries around the world. It brings the benefits of Deutsche Bank’s award winning expertise in foreign exchange to clients, with Deutsche Bank ranked the No. 1 Foreign Exchange Bank in 2009 by Euromoney magazine for the fifth year running*.
The platform can be accessed at:

* Euromoney Foreign Exchange poll 2009

For further information, please contact:

Zaman Toleafoa
+44 207 269 7244

Caroline Parker
+44 207 269 7295

About Deutsche Bank

Deutsche Bank is a leading global investment bank with a strong and profitable private clients franchise. A leader in Germany and Europe, the bank is continuously growing in North America, Asia and key emerging markets. With 80,277 employees in 72 countries, Deutsche Bank offers unparalleled financial services throughout the world. The bank competes to be the leading global provider of financial solutions for demanding clients creating exceptional value for its shareholders and people.