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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 

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