Brokers News

FXCM’s client deposits wane in June, but it’s still number one in the US

Aug 11 2016 13:54:41 GMT
By
Stanimir Zhelev , ForexBrokerz.com Find me on Google+


We regularly keep an eye on client assets handled by largest US brokers and the latest US Commodity Futures Trading Commission (CFTC) report on Futures commission merchants (FCMs) reveals an overall shrinking retail forex market. Although FXCM client obligations also fell both YoY and MoM, coming in at $174,991,480 in June, the brokerage continues to be the most popular choice among US traders.


Gain Capital a.k.a. Forex.com, remains a solid second, handling $129,705,882 in client deposits in the sixth month of the year. The figure represents a slight decline by 0.6% compared to the data from May, and an impressive increase of +15.5% YoY. We remind you that in April Gain Capital was outshined by Oanda, but a month later it resumed the second place again.


Here are the relevant data about both companies from the CFTC June report:

 

 

Total Retail FX obligations Jun ‘16

 

Total Retail FX obligations May ‘16

 

Change MoM

 

Total Retail FX obligations Jun ‘15

 

Change YoY

 

FXCM $174,991,480 $182,071,774 -3.9% $188,675,708 -7.3%
Gain Capital $129,705,882 $130,536,391 -0.6% $112,320,218 +15.5%
TOTAL (all US brokers) $505,772,954 $516,205,367 -2.0% $561,058,744 -9.9%

 


June was a weaker period compared with the previous month for the US retail FX trading industry, as shown by the table above. Overall, forex assets dropped 2% to $505.7 million in June after in April they fell below $500 million for the first time in several years.


Earlier this week both Gain Capital and FXCM released monthly business metrics, as well as financial results for the second quarter of 2016. According to the announced data, Gain Capital’s net income rises 28.6% in Q2 2016, while its July retail forex volumes continued its downtrend, coming in at $212.7 billion, 8.2% down MoM and 44.3% YoY.


FXCM, on the other hand, reported FXCM $60.5 million net profit in Q2, and trading revenue of $138.7 million for H1, 8% up compared to last year. As a result, Leucadia expects full repayment of the loan in 2017.


FXCM and GAIN Capital are among the largest forex and CFDs brokerages in the US and worldwide. They are both listed on the New York Stock Exchange.


FXCM has units registered and regulated with the relevant authorities in the US, the UK, Australia, and France. GAIN Capital is active in North America, Europe and the Asia Pacific regions, using the brands Forex.com, City Index, GTX, and Gain Capital.

 

TAGS: fxcm  client deposits  us brokers   

More news about FXCM

Broker Country Regulation Platform Min Deposit Review
Cyprus CySec MT4, MT5, Web $5 Review Website
US, UK, Australia CFTC/NFA, FCA, ASIC MT4, Web,
Mirror Trader,
Trading
Station,
NinjaTrader
$50 Review Website
UK, Australia, Singapore FCA MT4, Web,
ProRealTime,
2Dealer
$1 Review Website
UK, Cyprus FCA, CySec MT4 $5 Review Website
UK, Cyprus FCA, CySEC MT4, MT5, Web,
cTrader,
SuperTrader,
FxPro Markets
$100 Review Website
Seychelles FinaCom MT4 $10 Review Website
UK, Bulgaria FCA, FSC Web $150 Review Website
Belize IFSC MT4, MT5 $100 Review Website
Cyprus CySEC MT4, MT5 $300 Review Website
New Zealand FMA MT4 $1000 Review Website

More Forex Brokers News

Admiral Markets amends margin requirements

Jan 19 2017 14:59:35

Admiral Markets, a European forex and CFD broker, said it is amending the margin requirements on the instruments it offers on some of the live trading accounts.    According to the broker, the changes will apply to all positions opened on Admiral.Markets and Admiral. Read more

eToro takes ETFs to a next level of Copy Trading

Jan 18 2017 15:20:51

Innovative forex broker and social trading network eToro launched a new investment service called CopyFunds, which takes exchange-traded funds (ETFs) to a whole new level.   ETFs allow traders to invest in a whole sector or market trend, not just in one company or commodity. Read more

XM is only forex broker in World Finance 100 2016 list

Jan 18 2017 12:47:05

XM, a European forex broker regulated by UK's FCA and the Cyprus Securities and Exchange Commission (CySEC), said it has been included in the World Finance 100 list for 2016. Read more

Interactive Brokers’ income before taxes increases by 66.2% in 2016

Jan 18 2017 08:39:23

Multi-asset automated brokerage Interactive Brokers (NASDAQ GS: IBKR) announced key financial and trading metrics for 2016 on Tuesday.  Leading US broker and a market maker reported its income before taxes for 2016 came in at $761 million, which is a growth of 66.2% compared to 2015. Read more

Swissquote’s social network Pulse now available on iOS devices

Jan 17 2017 15:06:27

A bank, a major FX and CFD brokerage, as well as a fintech pioneer, Swissquote announced that its recently launched social network, called Pulse, is now available on iOS devices. Read more

Morgan Stanley raises its stake in Plus500

Jan 16 2017 15:31:23

Morgan Stanley, the US multinational financial company who is among the major stakeholders in the London Stock Exchange (LSE)-traded forex broker Plus500 (LON:PLUS) has raised its stake in the company to pass the 6% threshold. Read more

IG urges its clients to take a stand with regards to FCA’s proposals

Jan 13 2017 08:36:04

Major brokerage IG Group (LON:IGG) encourages its clients to share their opinions about the recent proposal from the Financial Conduct Authority (FCA) to raise margin requirements for CFDs and spread betting, among other things. Read more

FXCM sees December, Q4 2016, annual trading volumes fall

Jan 12 2017 14:31:39

FXCM, the leading US forex brokerage saw a double-digit decline in its December retail and institutional trading volumes both on a monthly and annual basis, show the officially released company metrics. Read more

IG Group renames binary options to “Digital 100s”

Jan 12 2017 10:44:34

 IG Group, one of Europe's largest forex, CFD and spread betting (UK only) brokers has rebranded its binary options products and now calls them “Digital 100s”. Read more

It's official: Banc De Binary renounces Cyprus license

Jan 11 2017 12:43:49

 Banc De Binary, the largest and oldest regulated binary options broker has renounced its Cyprus license, several days after the first reports that it is planning to shutter its business and has stopped taking clients from the EU. Read more