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$147 Million in Customer Assets Entrusted to FXCM US This January

Mar 13 2013
By
Forexbrokerz.com

The U.S. Commodity Futures Trading Commission (CFTC) has released the January 2013 financials of Futures Commission Merchants (FCMs). The good news is that the overall amount of the customer assets invested in retail forex has reached $657,558,833. The retail forex customer assets for December 2012 totaled $640,973,959 and this increase, albeit small, is a good sign for the U.S. retail forex industry; it shows that despite the various attempts on behalf of the National Futures Association (NFA) to kill that market (backed up by the CFTC), brokers and investors are doing well. 

 
FXCM is one of the top 3 brokers holding the largest amount of customer money: almost $147 million (the other two are Oanda with approximately $150.5 million and Forex.com with $104 million). 
 
In a recent conference call FXCM's CEO Drew Niv disclosed that the broker's retail business now accounts for 85% of all operations, versus the 93% of 2011 – he was, of course, referring to the company's global business and not only to the U.S. division but nonetheless, together with the data about customer assets this shows one thing: although overshadowed by the growth of institutional trading, FXCM's retail forex is sustainable. 
 
It seems that the significant growth of the institutional services is a result of intentional effort – the broker lists increasing its institutional presence to balance its strength in retail as one of ways of achieving a business development goal of FXCM's, namely building a diversified revenue base. 
 
But let's get back to spot FX. While January was a good month, things are looking even better for February 2013, when FXCM reported a total $1,190.8 million in customer assets. Again, this number covers all of the broker's divisions across the world and not only the one in the USA – we will need to wait until CFTC releases the relevant data for that particular market – but my guess is, the February data will just as encouraging as the January numbers. 
 
 

About FXCM Inc. 

 
FXCM Inc. (NYSE: FXCM) is a global online provider of foreign exchange (forex) trading and related services to retail and institutional customers world-wide. 
 
At the heart of FXCM's client offering is No Dealing Desk forex trading. Clients benefit from FXCM's large network of forex liquidity providers enabling FXCM to offer competitive spreads on major currency pairs. Clients have the advantage of mobile trading, one-click order execution and trading from real-time charts. FXCM's U.K. subsidiary, Forex Capital Markets Limited, also offers CFD products with no re-quote trading and allows clients to trade oil, gold, silver and stock indices along with forex on one platform. In addition, FXCM offers educational courses on forex trading and provides free news and market research through DailyFX.com. 
TAGS: FXCM  forex trading  forex metrics  retail forex  institutional forex  forex customer assets 

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