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Forex.com reports 40% annual drop in January volumes

Feb 13 2017
By
Jonathan Smith

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 $9.5 billion and was 11% higher than in December 2016, when the volumes also posted double-digit decline.

 
Similarly, the overall trading volume in January rose 11% on a monthly basis, but dropped 34.1% on an annual basis and stood at $210 billion. The number of active OTC accounts (number of accounts that did at least one trade in the past 12 months) decreased 1.4% from December 2016 and 11.5% from last January. 
 
At the same time, the institutional segment of Gain Capital, GTX, performed much better. According to the report, GTX's ECN ADV in January was $12.1 billion, up 31.7% from December and 28.4% from January 2016. The overall monthly volume of GTX's ECN segmnet was $226.2 billion – 31.7% higher than December and 41.3% from last January. 
 
The swap dealership of GTX also performed quite well in January. The data shows that it had a daily volume of $4.4 billion ( 38% more than December 2016 and 50.6% more than January 2016) and a monthly volume of $96.6. billion (up 38.3% from December and 65.6% from last January). 
 
Gain Capital is one of the major retail forex and CFD brokers in the world. It is currently regulated in eight jurisdictions, with approximately 140,000 customers and over $1.5 billion in assets.  In addition to its US regulated retail forex business, Gain operates regulated retail trading operations under the brands Forex.com and City Index in the United Kingdom, Japan, Hong Kong, Australia, Singapore, Grand Cayman and Canada. Gain Capital also has a US-based retail futures business and the institutional trading platform GTX. 
 
Last week Gain Capital signed an agreement to acquire the US retail forex clients of its main competitor in the country FXCM, which is exiting the US market, following a ban from the country's regulators CFTC and NFA and a $7 million fine for misleading clients and misinforming regulators. According to the agreement, Gain Capital would pay between $250 and $500 per active client account.
 
The acquisition would most likely boost Forex.com's performance, both in terms of volume and client numbers.
 
 
TAGS: gain capital  forex.com  adv  january 

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