de | cn | ru

Brokers News

FXCM’s Jan metrics: trading volumes up 18% MoM, US operations making up less than 20%

Major forex broker FXCM (NASDAQ:FXCM) reported its trading metrics for January. According to the data disclosed, FXCM’s total retail trading volume came in at $315 billion, $62 billion of which was generated from operations in the US, which are currently is in the process of selling to Gain Capital [NYSE:GCAP]. Accordingly, US business makes up 19.7% of the broker’s total trading volumes, while the remaining $253 billion were generated from operations outside the US.

 

The January retail trading volume of $253 billion represents an increase of 18% compared to previous month. Furthermore, the report shows that FXCM’s clients operated a total of 178,772 active accounts and those in the US numbered 46,764. For more details, check out the table below:

 

 

Previous week it became clear that the largest US forex broker, FXCM, is withdrawing from the US market after a settlement reached with regulators CFTC and NFA and a $7 million fine for violation of certain legal regulations and false statements filed the authorities. Besides, it was announced that FXCM is selling its retail client base to US peer Gain Capital Holdings Inc (NYSE:GCAP), and the latter will pay up to $500 for each FXCM client.

 

A couple of days after the news broke, FXCM announced metrics for the nine months, ended 30 September, 2016, according to which the broker generated a net loss of $13.9 million from US operations. That is why, FXCM said it expects substantial cost savings form its exit from the US market.

 

FXCM is 50.1% majority owned by FXCM Inc., while rest of the group moved to the hands of Leucadia National Corporation, from which the broker drew a $300 million loan to cover clients' losses and meet the minimum capital requirements after the Swiss franc spike in January 2015.

 

The broker still has its regulated forex businesses in the UK and across the major EU markets Germany, Italy and France, Australia, Israel and South Africa, as well as in Hong Kong, New Zealand, Japan. The broker offers forex, CFDs, and spread betting services.

 

TAGS: FXCM  US exit  trading volumes  forex broker  metrics 

More news about FXCM

Broker Country Regulation Platform Min Deposit Review
Cyprus, UK, Mauritius CySec, FCA, IFSC MT4, MT5, Web $10 Review Website
Cyprus, Australia CySec, ASIC MT4, Web,
Mobile app
$100 Review Website
Australia ASIC MT4, MT5,
IRESSTrader
$100 Review Website
UK, Cyprus, Australia FCA, CySec, ASIC MT4, MT5 $5 Review Website
UK, Australia FCA, ASIC MT4, Trading
Station,
NinjaTrader
$50 Review Website
UK, Cyprus, UAE, South Africa FCA, CySEC, DFSA, FSB MT4, MT5, FxPro
Markets,
cTrader
$100 Review Website
Cyprus CySEC MT4, MT5, Web $1 Review Website
Belize IFSC MT4, MT5 $100 Review Website
Cyprus, UK, South Africa, UAE CySec, FCA, FSCA, DFSA MT4, MT5, Web $5 Review Website
Cyprus, UK CySEC, FCA MT4, MT5 $1 Review Website
Australia ASIC MT4, MT5 $100 Review Website
UK FCA MT4, Web, MT4
for Mac
$100 Review Website

More Forex Brokers News

FXTM appoints Han Tan as a Market Analyst for Southeast Asia region

Apr 19 2019 13:28:36

  Global award-winning forex broker FXTM has just announced the appointment of Tan Chung Han (Han Tan) as a Market Analyst. Read more

FXTM gets a license from Mauritius’ FSC

Mar 28 2019 09:59:36

  Award-winning forex brokerage  FXTM (ForexTime) continues its ongoing global expansion. The broker announced it has acquired a license from the Financial Services Commission (FSC) of the Republic of Mauritius previous week. Read more

Fortrade is the first broker to get an ASIC license in nearly 2 years

Mar 20 2019 15:03:35

  Fortrade acquired a financial services license from the Australian Securities and Investments Commission (ASIC), which hasn’t been very welcoming of new retail forex broker applicants lately. Read more

FP Markets launches a suite of cutting-edge MT4 tools for traders

Mar 06 2019 14:31:42

  FP Markets, a market-leading Forex and CFD provider, launches MT4 Trader Toolbox, a suite of twelve online trading tools which will take their clients’ trading to the next level. Read more

Major broker IG launched its US website

Jan 31 2019 13:15:37

  Global brokerage IG launched its website intended for US retail clients (www.ig.com/us). Residents of the US (with the exception of those in Arizona or Ohio) can now register on the broker’s website in less than 5 minutes and start trading. Read more

FOREX.com announced important updates to its Web Trading platform

Jan 25 2019 15:13:43

  Major forex brokerage  Forex.com  proudly announced important updates of its in-house Web Trading platform, which will take your trading experience to the next level.   Accessible from all browsers and operating systems, Web Trading was launched in 2017. Read more

HotForex parent gets licensed by UK’s FCA

Jan 21 2019 12:31:59

  Less than a month after HotForex acquired license to operate in the UAE, the trading services provider gets an authorization by the Financial Conduct Authority of the UK. The UK subsidiary of the HF Markets Group, HF Markets (UK) Ltd. Read more

Rakuten Securities offers HK$700 prepaid cards as a welcome gift

Jan 18 2019 10:26:57

  Hong Kong forex broker Rakuten Securities offers up to HK$700 Spending Limit Prepaid Card as a welcome gift to new account registrants. Here are all the details you need to know about the company’s promotional offer, which is valid from now until the end of March 2019. Read more

XM applies for a forex dealer license in the US

Jan 11 2019 13:39:14

  The US subsidiary of major forex brokerage XM has applied for a membership with the National Futures Association (NFA). This became clear from a filing by the broker’s US entity Trading.com Markets Inc. (previously Trading Point US Inc.) with the NFA dated January 3, 2019. Read more

HotForex acquired DFSA license, commences operations in the UAE

Jan 08 2019 10:45:37

  HotForex is now licensed by the Dubai Financial Services Authority (DFSA) and announced it commences operations in the United Arab Emirates (UAE). The Dubai arm of the HF Markets Group, HF Markets (DIFC) Ltd., acquired the DFSA license in December last year. Read more

de | cn | ru