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Forex Volumes Keep Falling at Japan's Monex in February

Monex Group, the financial conglomerate behind companies like Japan's Forex broker Monex Inc and US-based Tradestation, earlier today announced some key performance metrics for February 2014, with Forex volumes continuing to decline.
 
Overall Forex volumes across the group amounted to $44.2 billion, which is a very disappointing figure and I'm not talking only about monthly comparisons which sometimes show such fluctuations. The FX volumes in February 2014 were down massive 42% from the reading in February 2013 and down by 17% from the reading in January 2014. By the way, this is not the first year-on-year dismal comparison that we see from a Forex broker: Saxo Bank, the Danish bank and Forex broker, also recorded a drop in annual terms in its February Forex volumes. Yet, the overall figure for the Denmark's company was much better. 
 
Back to our current subject of interest: global daily average revenue trades (aha, we call them DARTs), amounted to 361,872 in February 2014, falling by 15% from levels seen in the same month in 2013 and down by 9% from the reading recorded in January 2014. 
 
The only positive piece of news came from the number of accounts. At Monex Inc the number of Forex OTC active accounts at the end of the month stood at 62,664, which was almost flat with the reading from January 2014 and up by 18% from February 2013. Tradestation also saw a rise in accounts in annual terms – at 82,105, the accounts were 8% higher than in February 2013.
 
The February results come amid efforts by the Monex to reduce its expenses which have so far failed to produce the desired effect. The financial expenses amounted to JPY 641 million (USD 6.3 million) in the first month of the new year, up by 43.4% from the December 2013 reading. So far only the U.S. business of the group has managed to produce significant savings.
 
You may find the full press release on the February metrics of Monex by clicking here.
 
 

About Monex Group Inc.

 
Monex Group Inc is an online securities brokerage providing advanced financial services to individuals and investors. The company is considered a pioneer among Japanese online securities brokers, and its services cover M&A advisory, debt & equity underwriting, asset management focusing on alternative investments, investment education, and other investment banking functions. Monex Group has offices throughout Asia, and the recent acquirement of brokers TradeStation and IBFX opened its way to the US market as well.
TAGS: monex group  monex inc  tradestation  japan forex broker  monex forex broker  february 2014  february  corporate performance  forex volumes  trading volumes  forex accounts  darts  forex trades 

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