European forex volumes surge in 2025 despite mixed platform performance

European forex trading volumes have demonstrated remarkable resilience in early 2025, with most platforms reporting increased activity amid volatile market conditions. The surge reflects heightened trader engagement as currency markets navigate shifting central bank policies and geopolitical uncertainties. However, performance across platforms shows divergence, with Euronext FX's Fastmatch experiencing a decline to $589 billion in February from $610 billion in January. This 3.4% monthly drop contrasts with broader market strength, suggesting competitive pressures and possible migration of volume to other venues. The overall volume increase indicates robust institutional and retail participation, driven by increased volatility in major currency pairs. Market participants are capitalizing on wider trading ranges and clearer directional trends emerging in 2025. The mixed platform performance highlights the increasingly fragmented nature of forex liquidity, requiring traders to optimize execution across multiple venues for best results.