The good news from leading FX brokers just keep on coming.... Leading retail FX firm FXCM, the world's largest online global FX broker (and a member of LeapRate's Approved List of regulated FX brokerage firms), announced that May trading activity set records in both the Retail and Institutional sides of its business. Retail volumes came in at $390 billion, up 7% from April, and Institutional volumes at $191 billion, up 4%.
FXCM's total monthly volumes of $581 billion handily beat the $549 billion FXCM did in April 2013, its previous best month.
And FXCM now has a lot of dry powder to grow even further, after FXCM raised $172 million in its first major notes offering, which closed just three days ago. We expect a good portion of FXCM's now-free bank lines to be targeted toward acquisitions, in the fast growing Asia Pacific region and elsewhere.
For the complete FXCM press release detailing May volumes click here.