FXCM's, March and Q1 2017 trading volumes have posted a significant drop on an annual basis, shows the company report.
According to the data released by Global Brokerage, Inc. (NASDAQ:GLBR) as the company is known after the February folding up of its US operations, in March the customer trading volume for its retail and institutional foreign exchange business stood at $225 billion. This is 28% lower than March 2016 and 12% higher than February. The average daily trading volume in March was $9.8 - 3% lower than February 2017 and 28% lower than March 2016.
The Q1 data shows that the total trading volume for the period was $679 billion. This is 15% lower than the fourth quarter 2016, and 26% lower than the first quarter of 2016.
The number of client trades per day also dropped in March. According to FXCM, their average daily number was 387,815, which is 5% lower than February 2017 and 23% lower than March 2016.
The number of active accounts, which in the end of March stood at 130,832 remained mostly unchanged from February (+0.2%) and posted a 1% drop from last March.
All data excludes the metrics of the now closed US branch FXCM US.
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.