Sponsored By
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,
Mobile app
$100 Review Website
UK, Cyprus, Hong Kong FCA, CySEC, SFC MT4, Web,
PrimeTrader
$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
Australia ASIC MT4, MT5,
IRESSTrader
$200 Review Website
Seychelles FinaCom MT4, Web $10 Review Website

More Forex Brokers News

FXTM launches MT5 trading for Pro account holders

Apr 11 2018 10:02:35

  Global forex broker FXTM announced that trading on MetaTrader 5 (MT5) is now also available for Pro account holders. Previously, only its clients with regular ECN accounts had this opportunity. Read more

FBS's client base reaches 7 million

Apr 02 2018 12:51:01

  Leading Forex and CFD broker FBS reported that the total number of its clients reached 7 000 000 on 21st of March, 2018. The anniversary client, Mr. Abdelrashed Eldamerdash Hamed Elsayed from Egypt, got a special gift from the broker. Read more

FBS adds DAX30 to its CFD lineup

Apr 02 2018 12:23:24

  Forex and CFD broker FBS launched trading in one of the most important indices, the German DAX 30 last month. This is a blue chip stock market index, which represents Germany’s 30 largest and most liquid companies on the Frankfurt Exchange - BMW, Adidas, Siemens, etc. Read more

Forex

Dukascopy launches live trading on BTC/USD

Mar 26 2018 13:52:57

Dukascopy Bank, which also owns a brokerage of the same name, announced it is launching live trading on CFDs on the BTC/USD pair, with a leverage of up to 1:3.   The clients will be able to trade on both rising and falling markets – same as Forex trading and have hedging possibilities. Read more

Bittrex delists 82 altcoins from platform

Mar 21 2018 15:01:42

Bittrex, a major US-based crypto- and altcoin trading platform, announced it is delisting 82 altcoins from its platform by the end of March. Read more

Swissquote expands crypto portfolio with multi-crypto certificate on SIX Swiss Exchange

Mar 19 2018 14:48:16

Swissquote, the major Swiss financial online services provider and owner of the forex broker of the same name, announced it is launching the first multi-cryptocurrency certificate trade on the SIX Swiss Exchange. Read more

easyMarkets honored as “Best APAC Broker" at ADVFN awards

Mar 19 2018 13:47:39

  Global forex brokerage easyMarkets has once again been recognized by the financial services community. It won as the best broker for Asia-Pacific region at the fourth annual ADVFN International Financial Awards. Read more

CMC adds Bitcoin, Ether CFDs, spread betting to portfolio

Mar 16 2018 14:51:21

 CMC Markets, a major global forex and CFD broker, has finally joined the ranks of regulated forex brokers that offer CFDs on cryptocurrencies and will offer such products and spread betting on the two largest cryptocurrencies by market cap – Bitcoin and Ether. Read more

Coinbase gets e-money license from UK’s FCA

Mar 14 2018 14:52:48

 Coinbase, one of the largest and most popular cryptocurrency exchanges in the US and Europe, announced it has obtained an e-money license from UK’s financial markets and services regulator, the Financial Conduct Authority (FCA). Read more

ThinkMarkets to launch P2P trading blockchain platform, ICO – media

Mar 12 2018 14:34:36

The forex and CFD broker ThinkMarkets  announced it is planning to launch TradeConnect – a blockchain based multi asset trading network and a native token ThinkCoin (TCO), reports LeapRate. Read more

Forex
de | cn | ru