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Screenshot of a breaking news alert e-mail from Q2 2017
Continuing what has been a fairly strong June in the Retail FX space, forex broker FXCM Group LLC has announced that its trading volumes rose by 5% during June, to $223 billion. On a daily average basis, volumes were up 9% in June.
The rise in volumes at FXCM, and its continued membership in the “$200 billion club”, certainly testify to the continued strength and resiliency of the FXCM brand, despite the company’s recent problems, as outlined below.
The results of course represent trading volumes outside the US. FXCM sold its US clients to the Forex.com unit of rival Gain Capital Holdings Inc (NYSE:GCAP) in February, after the company and now ex-CEO Drew Niv were banned from the US forex market.
FXCM Group LLC (the operating company which reports the figures) is owned 50.1% by Global Brokerage Inc (NASDAQ:GLBR), formerly known as FXCM Inc, and 49.9% by Leucadia National Corp (NYSE:LUK).
FXCM’s full report on June customer trading metrics reads as follows:
FXCM Group Reports Monthly Metrics
NEW YORK, July 10, 2017 — FXCM Group, LLC (“FXCM Group” or “FXCM”), a leading international provider of online foreign exchange trading, CFD trading, spread betting and related services, today announced certain key customer trading metrics for June 2017 for its retail and institutional foreign exchange business.
June 2017 Customer Trading Metrics from Continuing Operations:
- Customer trading volume of $223 billion in June 2017, 5% higher than May 2017 and 17% lower than June 2016.
- Average customer trading volume per day of $10.1 billion in June 2017, 9% higher than May 2017 and 18% lower than June 2016.
- An average of 340,308 client trades per day in June 2017, 2% higher than May 2017 and 33% lower than June 2016.
- Customer trading volume for the second quarter 2017 was $612 billion, 10% lower than the first quarter 2017, and 27% lower than the second quarter 2016.
- Volume from indirect sources was 34% of total trading volume in the second quarter 2017.
- Active accounts of 125,285 as of June 30, 2017, a decrease of 2,957, or 2%, from May 31, 2017, and a decrease of 8,127, or 6%, from June 30, 2016.
- Tradeable accounts of 109,829 as of June 30, 2017, an increase of 534, or 0.5%, from May 31, 2017, and a decrease of 6,153, or 5%, from June 30, 2016.