de | cn | ru

Brokers News

FXCM reports 21.6% annual rise in trading revenue for Q4 2016

FXCM, or rather Global Brokerage, Inc. (NASDAQ:GLBR) as the company is known after the February folding up of its US operations, reported that its trading revenue from continuing operations in the quarter that ended on December 31, 2016, amounted to $79.5 million. This is nearly 21.6% higher than the same quarter of 2015, when the trading revenue stood at $65.4 million. 

 
For the entire 2016, FXCM reported a trading revenue from continuing operations of $276.0 million, compared to $250.0 million for the twelve months ended December 31, 2015. The net income for 2016 was $96.7 million, compared to a net loss of $513.6 million in 2015. 
 
Along with the data on the overall financial performance, FXCM also released trading metrics for the last quarter of 2016 and the entire year. 
 
Logically, the information is divided in two parts: of the former US operations and of the remaining parts of the brokerage. 
 
According to the report, the total trading volume of FXCM, excluding the US subsidiary for the last quarter of 2016 amounted to $798 billion and that of the US operations was $172 billion, bringing the total to $970 billion. 
 
The total trading volume for the entire 2016 of all operations of FXCM, including the US, amounted to $4.06 trillion, up 5.2% from 2015's 3.86 trillion. 
 
In 2016 the FXCM US trading volume amounted to $722 billion. 
 
Click on image for larger view
 
In its filing with the SEC, Global Brokerage, Inc. outlines the two core objectives of the company for 2017. The first one is reducing debt incurred from the Leucadia financing and accelerating the growth of our core business.
 
The brokerage is planning to repay Leucadia with cash generated through operations, money from the sales of the US accounts (to Gain Capital) and other non-core assets and cost savings through staff downsizing and restructuring. 
 
The growth of the remaining core business is to be achieved by increasing focus on retail FX and CFD growth with expanded promotion, distribution and new product introduction and offering of CFDs on an agency model basis in certain jurisdictions.
 
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. 
 
 
TAGS: fxcm  q4  revenue  loss  2016  trading volume 

More news about FXCM

Forex
Broker Country Regulation Platform Min Deposit Review
Cyprus CySec, FCA 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, Cyprus FCA, CySec 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 CySEC in-house mobile
app
$50 Review Website
Seychelles FinaCom MT4, Web $10 Review Website

More Forex Brokers News

eToro adds NEO to cryptocurrency portfolio

Feb 21 2018 08:28:40

eToro, the largest social trading brokerage, announced it is adding NEO tokens to its cryptocurrency instrument list. Read more

etoro launches trading in Stellar lumens

Feb 15 2018 11:14:23

  eToro, a forex broker and social trading platform, announced it is expanding its cryptocurencies poirtfolio with Stellar lumens (XLM). Read more

Oanda lowers spreads on major indices

Feb 14 2018 07:45:14

 Major global multi-asset brokerage Oanda announced it is lowering the spreads on some of the major indices in its portfolio in order to reduce the price for trading in indices for its clients. Read more

Admiral Markets expands crypto CFD offering with Dash, Monero, Zcash

Feb 12 2018 08:13:07

Admiral Markets, a European forex and CFD broker, announced it is expanding its portfolio of cryptocurrency CFDs with Dash, Monero and Zcash. Read more

XM lowers Zero Account commission

Feb 09 2018 08:06:41

Leading EU forex and CFD broker XM announced it is lowering the commissions on its popular Zero Account. Starting from February 12, 2018 the broker will charge $3.5 per $100 000 traded (one lot), instead of $5 per lot. Read more

Plus500 sets up new subsidiary, gets South African Authorized FSP license

Feb 08 2018 08:05:35

Plus500, one of the major global forex and CFD brokerages has obtained an Authorized Financial Service Provider (FSP) license from South Africa’s Financial Services Board (FSB) through its newly created subsidiary Plus500SA Pty Ltd., the company said. Read more

CySEC fines EUR 30 000 owner of iTrader forex broker

Feb 07 2018 08:43:11

The Cyprus Securities and Exchange Commission (CySEC) said it has fined EUR 30 000 the owner of theiTrader forex and CFD broker – Hoch Capital Ltd. Read more

Forex broker Fullerton Markets adds Bitcoin as payment option

Feb 06 2018 09:24:11

New Zealand-regulated forex and CFD broker Fullerton Markets said it is adding Bitcoin as a payment option for its clients. According to the company CEO Mario Singh, the decision was driven by a large number of client requests to do so. Read more

FXTM gets FCA license

Feb 05 2018 10:50:34

 Global forex broker FXTM  announced it has obtained a license from UK’s Financial Conduct Authority (FCA) through its London-based unit Forextime UK Limited. Read more

FCA slaps GBP 1 mln fine on Interactive Brokers UK

Feb 02 2018 10:22:20

 UK’s financial services regulator, the Financial Conduct Authority (FCA), has fined the UK branch of the US brokerage Interactive Brokers (IBUK) GBP 1,049,412, the watchdog said. Read more

Forex
de | cn | ru