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FXCM's quarterly results recover, monthly results decline

Aug 10 2017
By
Jonathan Smith

  FXCM Group, the two remaining forex, CFD and spread betting units of Global Brokerage, reported total net revenues of $49.4 million for the second quarter of 2017, ending on June 30. This is 10.1% less than the same quarter of last year, but 7.6% more than Q1 2017.

 

At the same time in Q2 FXCM posted a net loss of $2.4 million, which is significantly better than the $28.2 million net loss in Q1 2017. The adjusted EBITDA of FXCM from continuing operations stood at $10.5%.

 

“In the second quarter of this year we were able to generate solid Adjusted EBITDA from continuing operations of $10.5 million in a difficult environment of particularly low volatility,” said Brendan Callan, CEO of FXCM. “This is in large part due to strong revenue capture in our FX and CFD businesses coupled with a substantial cost reduction earlier this year.”

 

“With the expected proceeds from the pending sale of our stake in FastMatch, we expect our balance sheet to further improve as we continue to pay down our debt to Leucadia,” continued Callan. “We remain very optimistic about the future of our business.”

 

During the second quarter FXCM's clients had 109,829 tradeable accounts and 125,285 active accounts. The average number of trades stood at 340,478, with 2.7 daily average trades per active account. The total trading volume for the period was $612 billion, with an average customer trading volume per day of $9.4 billion.

 

At the same time, FXCM also reported its monthly metrics for July 2017. They showed that the customer trading volume was $197 billion, down 12% from June and 23% from July 2016. There were an average of 321,923 client trades per day, 5% lower than June and 36% lower than last July.

 

The number of active client accounts also dropped – by 0.9% from June and 6% from July 2016, to 321,923.


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  q2 

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