FXCM today reported its third quarter results for 2011.

We had already seen FXCM's volume numbers, and as such it was no surprise that Revenues, EBITDA and other metrics such as Client Equity were up nicely. And with its $17 million acquisition of Foreland Forex now closed, FXCM is now among the five largest retail Forex firms in Japan. (For a list of Forex M&A transactions and valuation multiples see the LeapRate-Dow Jones Forex Industry Report for 2011.)

Somewhat surprising, however – similar to what we saw at Gain Capital – is that despite generally increased trading volumes abroad, US retail trading volumes are significantly down from 2010 levels. See our piece on The Disappearing US Forex Market for more details.

Click here to download FXCM's Q3 results release.

Click here to download FXCM's Q3 investor slideshow presentation.