de | cn | ru
Forex

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 CySec MT4, MT5, Web $5 Review Website
Cyprus, Australia CySec, ASIC MT4, Web $100 Review Website
UK, Cyprus, Hong Kong FCA, CySEC, SFC MT4, Web,
PrimeTrader
$100 Review Website
UK, Australia, Singapore FCA, ASIC, MAS, BaFin MT4, Web,
ProRealTime,
2Dealer
$0 Review Website
UK, Australia FCA, ASIC MT4, Trading
Station,
NinjaTrader
$50 Review Website
UK, Cyprus FCA, CySec MT4, MT5 $5 Review Website
UK, Cyprus FCA, CySEC MT4, MT5, FxPro
Markets,
cTrader
$100 Review Website
Belize IFSC MT4, MT5 $100 Review Website
Cyprus CySec MT4, Web, Gwasy $100 Review Website
Belize IFSC MT4, MT5, Web $1 Review Website
Seychelles FinaCom MT4 $10 Review Website
UK, Cyprus, Bulgaria FCA, CySec, FSC Web $150 Review Website

More Forex Brokers News

IC Markets follows the market trend, launches Bitcoin trading

Aug 18 2017 13:37:30

A number of brokerages lately jump on the cryptocurrency bandwagon, as digital coins enjoy an increasing popularity, with Bitcoin hitting all-time highs. ASIC-regulated IC Markets is the latest forex broker that announced the launch of Bitcoin trading on Friday. Read more

Z.com Trade adds over 40 tradable products, ECN account types, and more

Aug 18 2017 07:31:27

Z.com Trade, the FCA-regulated arm of Japan’s largest forex broker GMO Click, announced on Thursday it has significantly upgraded its products and services. Read more

Zero spread FX trading by UK broker Trading 212

Aug 17 2017 12:30:42

Shortly after launching commission-free stock trading, Trading 212 announced yet another irresistible offer to investors: Zero spread forex trading. This makes it the first broker in the industry to offer forex majors with Zero spread and no commission fees. Read more

Forex

Dukascopy brand name abused by clone website

Aug 17 2017 08:27:18

Clone website dukascopi.com pretends to offer Forex and CFD trading from Switzerland, using the same address as Swiss online bank and forex broker Dukascopy. Actually, the clone website is operated by an offshore company, registered on the St. Vincent and the Grenadines (SVG). Read more

GAIN Capital raising up to $92m in convertible note offering

Aug 17 2017 07:28:48

The parent of the Forex.com brand, Gain Capital (NYSE:GCAP), announced on Wednesday it plans to offer up to $92 million in convertible senior notes to “repay outstanding indebtedness” and for possible strategic acquisitions and buybacks. Read more

Grand Capital now allows deposits in IRR, MYR and MMK, opens office in Senegal

Aug 16 2017 07:07:01

In order to make its services more accessible, forex and binary options broker Grand Capital added several base currencies in which its clients can make deposits: IRR, MYR and MMK. Besides, the brokerage announced it opened a new office in Dakar, the capital of Senegal. Read more

FXCM closes FastMatch sale, gets $46.7 million to pay Leucadia

Aug 15 2017 07:41:09

 FXCM Group, the two remaining forex, CFD and spread betting units of Global Brokerage, announced it has finalized the sale of its stake in FastMatch to Euronext. The deal received all necessary regulatory and anti-trust approvals.   According to the announcement, FXCM got $46. Read more

Saxo Bank hikes margin requirements from August 16 over fears of war with North Korea

Aug 14 2017 10:28:40

 Saxo Bank, a major Danish financial services provider, said it is raising the margin requirements for forex and CFDs, starting from August 16, at 0800 GMT. Read more

Dukascopy launches live trading on JForex Web 3 platform

Aug 14 2017 09:32:47

Swiss forex brokerage Dukascopy Bank announced it has launched live trading on its new JForex Web 3 platform. It is replacing the old web trading platform of the broker. The platform was released in June, but was available for demo purposes only. Read more

FxPro launches new spread betting platform FxPro Edge in UK

Aug 11 2017 09:29:45

Major European forex broker FxPro  has announced the launch of its “revolutionary” spread betting platform FxPro Edge.   It is available for clients of FxPro UK that are residents of the United Kingdom, starting from August 11. Read more

Forex
de | cn | ru