Brokers News

FXPro UK trading volume increases threefold in 2013

FXPro UK, the FCA regulated branch of the well known broker, has reported hopeful financial results for 2013 with trading volume increasing threefold compared to prior year while net loss is down 35% YoY.
 
If you are surprised that FXPro UK is reporting loss that is because it is a start up company and should not be confused with the long operating Cyprus based FxPro Financial Services Limited. Hence, according to the official FXPro UK annual report submitted to the UK Companies House trading losses [are] sustained [in 2013] since the company is in start-up phase.
 
The company also is rather small with monthly average number of FxPro UK employees in 2013 of only 11. This simply means that the company is supported by personnel in the Cyprus branch keeping only essential positions in UK. Several senior employees must be located in UK in order to fulfill the regulatory requirements of the FCA.
 
By all means the company is progressing as evidenced from the major financial metrics in the report. The following figures are in comparison with the previous year (2012) financial results.
 

- Revenue £945 161 from £789 940 (20% increase);

- Net loss £465 965 from £713 754 (down 35%);

- Traded volume $49 billion from $16 billion (up 200%);

- Administrative expenses £1.422 million from £1.422 million

 
Notably, although the trading volume is up threefold the net revenue increase is only 20% meaning that FXPro UK is earning approx. $3 per standard lot traded (down from c.a $10 in 2012). In other words, the profit in 2013 is 0.3 pips per lot compared to 1 pips per lot in 2012. For comparison Gain Capital's profit per traded lot in 2013 is $10.95 or approx. 1.1 pips.
 
All in all, the reported figures are reassuring. Hence “the board of directors does not expect any significant changes or developments in the operations, financial position or performance of the company in the foreseeable future.”
 
TAGS: fxpro UK  fxpro  annual report 2013  operating metrics 

More news about FxPro

Broker Country Regulation Platform Min Deposit Review
Cyprus CySec MT4, MT5, Web $5 Review Website
US, UK, Australia CFTC/NFA, FCA, ASIC MT4, Web,
Mirror Trader,
Trading
Station,
NinjaTrader
$50 Review Website
UK, Australia, Singapore FCA MT4, Web,
ProRealTime,
2Dealer
$1 Review Website
UK, Cyprus FCA, CySec MT4 $5 Review Website
UK, Cyprus FCA, CySEC MT4, MT5, Web,
cTrader,
SuperTrader,
FxPro Markets
$100 Review Website
Seychelles FinaCom MT4 $10 Review Website
UK, Bulgaria FCA, FSC Web $150 Review Website
Belize IFSC MT4, MT5 $100 Review Website
Cyprus CySEC MT4, MT5 $300 Review Website
New Zealand FMA MT4 $1000 Review Website
Belize IFSC MT4, Web $500 Review Website

More Forex Brokers News

FxChoice launches new economic calendar

Feb 22 2017 08:57:02

In a notice to its clients, forex broker FX Choice announced the launch of live and automatically updated economic calendar. This calendar simplifies finding market moving news and makes it easier for clients to take informed trading decisions. Read more

FXCM changes name to Global Brokerage

Feb 21 2017 12:54:05

FXCM, a top global broker that recently got in big trouble with the US regulators and subsequently withdrew from the US forex market, selling its clients to Gain Capital, announced it is changing its name to Global Brokerage Inc.    Respectively, the ticker also changes – to GLBR. Read more

FXTM teams up with Sahara Force India F1 racing team

Feb 21 2017 09:10:11

Global broker FXTM announced it has entered into partnership with the Sahara Force India Formula One racing team and has become its “Official Forex Partner” for the 2017 F1 season. Read more

Fibo Group launches trading account with gold as a base currency

Feb 17 2017 09:38:07

Forex brokerage Fibo Group has added yet another option to its extensive offerings: its clients can now choose gold (GLD) as a base currency for their MT4 accounts. Read more

FXCM’s Jan metrics: trading volumes up 18% MoM, US operations making up less than 20%

Feb 15 2017 14:42:05

Major forex broker FXCM (NASDAQ:FXCM) reported its trading metrics for January. Read more

Client feedback is driving the development of IG’s new web platform

Feb 15 2017 09:05:36

In a note to its clients, IG, one of the largest forex, CFD and spread betting providers, announced some key features of its new web platform, as well as tools which are currently in development. Read more

FXCM pays $650 K CFTC fine for 2015 undercapitalization

Feb 14 2017 13:13:17

FXCM's woes see no end. After last week's shocking regulatory actions against it that forced it to exit the US forex market, where it was the leader, this week the broker took action to resolve another old regulatory issue and pay a $650 000 fine. Read more

FXCM expects its US exit to trigger international growth

Feb 13 2017 10:10:07

A couple of days after the news about FXCM [NASDAQ:FXCM] leaving US forex market and selling its client base to peer Gain Capital broke, the top forex broker announced key metrics for the nine months, ended 30 September, 2016. According to the data disclosed, FXCM generated a net loss of $13. Read more

Forex.com reports 40% annual drop in January volumes

Feb 13 2017 09:06:16

Forex.com, the OTC retail forex brand of the US brokerage Gain Capital, has posted a 40.1% drop of its average daily volume in January 2017, compared to last January. According to the company report, it amounted to $9. Read more

Gain Capital to pay up to $500 for each FXCM client, conditions apply

Feb 10 2017 08:49:12

Following the regulatory penalties and dramatic exit of the largest US forex broker FXCM from the country and the subsequent announcement that Gain Capital is buying off FXCM's retail forex clients, new details are emerging about the deal. Read more