September (at least the first 2-3 weeks of the month) was much better for the industry than August and July, most brokers will report improved figures. GMO Click Securities is Japan’s largest forex broker and is world’s largest brokers in terms of retail forex volume operating both OTC and an exchange FX offering. In August its volumes were 6.5% lower than July at $286 billion. In September its numbers are slightly up at $293 billion on OTC and $8 billion on exchange. It’s interesting to note that since Japan increased the tax on exchange trading fx profits – the exchange trading volumes are gradually going down while OTC volumes benefit.