FXCM Group, which now contains all FXCM subsidiaries, except the US, has reported a decline in its February retail and institutional customer trading metrics.
According to the document, the customer trading volume in February amounted to $201 billion. This is 21% lower than January 2017 and 33% lower than February 2016. The more detailed information shows that in January 2017 the trading volume was $253 billion, while in February 2016 it was $299 billion, again excluding the US subsidiary.
Respectively, the average daily volume per day was $10.1 billion in February 2017, 16% lower than January 2017 and 29% lower than February 2016.
The number of active retail accounts decreased 1% (1576), compared to January this year and 2% from last February. At the same time, however, the retail tradeable accounts (an account with sufficient funds to place a trade in accordance with FXCM trading policies) in February rose 3%, from January, to 109 133, but was still 2% less than in February 2016.
In the dramatic February
FXCM US nevertheless had a more or less decent performance, despite being weaker than in January. The company data reveals that the subsidiary had a total trading volume of $38 billion, down 38.7% from January's $62 billion.
According to the same data, in February FXCM US had 45,395 retail active accounts and 143 retail tradable accounts. In comparison, in January the figures stood at 46,764 and 50,611, respectively. We remind you that the accounts of the US clients of FXCM were sold to the rival Gain Capital.
After the closure of the US business, FXCM Group 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.