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FXCM's June trading volume rises 5% from May

Jul 11 2017
By
Jonathan Smith

 FXCM Group, the two remaining units of Global Brokerage, reported that its June customer trading volume reached $223 billion, up 5% from May. Compared to June 2016, however, the volume dropped 17%.

 

This, most likely, can be explained with the withdrawal of FXCM from the US forex market this February, even though the comparison of the results does not take into account those those of FXCM US from 2016. The monthly growth, on the other hand, suggests that the brokerage is recovering from the turmoil - a trend that continues for a second month in a row.

 

The average daily volume in June stood at $10.1 billion, up 9% from May and 18% lower than last June. The average number of client trades rose 2% from May, to 340 308. Compared to last June, though, the number is 33% lower.

 

The number of active accounts (an account that has traded at least once in the previous twelve months and represents total trading accounts for both retail and institutional) in the end of June stood at 125 285, down 2% from the end of May 2017 and 6% from end of last June. The number of tradeable accounts (an account with sufficient funds to place a trade in accordance with FXCM trading policies), as of the end of June, was 0.5% higher than that of May, and stood at 109,829. Compared to June last year, it was 5% lower.

 

Along with the June trading metrics, FXCM Group also released its Q2 2017 results. They show that the trading volume for the entire period was $612 billion. This is 10% lower than the first quarter of 2017 and 27% lower than Q2 2016.

 

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.

 

In June FXCM announced the launch of Market Data Signals and published some slippage and spread statistics.

 

 

TAGS: fxcm 

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