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Retail Forex Volumes at FXCM Rise by 13% Y/Y in August

FXCM, the leading global Forex broker, has just announced operating results for its retail and institutional FX businesses for August and we are pleased to see a steep year-on-year rise in volumes in both respects.

 
The data show that retail FX volumes reached $307 billion last month, up by 13% against the result recorded in August 2012. However, on a monthly basis, the volumes staged a dip of 21%. The same pattern was seen in the number of retail client trades per day, which hit 411,498 in August 2013, down by 10% from July 2013 but still massive 28% higher than in August 2012.
 
The situation was much rosier in the business with institutional clients – a piece of very good news for the broker which has been trying to match the strong performance of its main rival in the United States, FOREX.COM. Institutional customer trading volumes  amounted to impressive $210 billion in August 2013, an increase of 14% from July 2013 and whooping 320% higher than in August last year. There was also a stunning jump of 861% year-on-year in the average daily count of institutional client trades, to 56,926. The rise on a month-on-month basis was 29%. 
 
The results fit well with a pattern already seen in the August metrics reported by Interactive Brokers: we saw a steep annual rise in volumes and more humble increase in monthly terms. Seasonal factors could account rather well for such a picture.
 
But the most impressive result is the institutional volume reading: although it still lags well behind the achievements of FOREX.COM, a double-digit increase on a monthly basis tells us that FXCM's business model now shows a new strength which may guard it in times of low volatility when the retail performance is usually weaker.
 
To keep up with the intrigue, we are still waiting for the broker to disclose more about its planned acquisitions. We already know that it's talking to Chicago-based trading firm Infinium Capital Management LLC and an acquisition of this company could deliver a further boost to FXCM's institutional business. We are waiting for more news and will keep you up to date.
 

You can see FXCM's press release on its key operating metrics for August 2013 below.

 
NEW YORK--(BUSINESS WIRE)-- FXCM Inc. (NYSE: FXCM) today announced certain key operating metrics for August 2013 for its retail and institutional foreign exchange business.
 
Monthly activities included:
 
August 2013 Retail Trading Metrics
 
Retail customer trading volume of $307 billion in August 2013, 21% lower than July 2013 and 13% higher than August 2012.
 
Average retail customer trading volume per day of $14.0 billion in August 2013, 17% lower than July 2013 and 19% higher than August 2012.
 
An average of 411,498 retail client trades per day in August 2013, 10% lower than July 2013 and 28% higher than August 2012.
 
Tradable accounts of 185,123 as of August 31, 2013, a decrease of 9,396 accounts, or 5% from July 2013, and a decrease of 22,537 accounts, or 11% from August 2012.
 
August 2013 Institutional Trading Metrics
 
Institutional customer trading volume of $210 billion in August 2013, 14% higher than July 2013 and 320% higher than August 2012.
 
Average institutional trading volume per day of $9.5 billion in August 2013, 19% higher than July 2013 and 332% higher than August 2012.
 
An average of 56,926 institutional client trades per day in August 2013, 29% higher than July 2013 and 861% higher than August 2012.
 
More information, including historical results for each of the above metrics, can be found on the investor relations page of the Company's corporate web site, www.fxcm.com.
 

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  fxcm forex broker  fxcm us broker  fxcm august 2013  fxcm operating metrics  fxcm forex trading volumes  retail fx business  institutional forex clients  forex trades  forex accounts 

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