FXCM posts second-best-ever institutional volumes in March, but retail volumes are slow

FXCM’s retail FX volume metrics of $290 billion and institutional $200 billion mark a strong month for FXCM.

Industry-leading retail forex broker FXCM (NYSE:FXCM) reported that in March it saw retail FX trading volumes of $290 billion, down 5% from February, but made up for it with its second strongest ever showing among institutional traders, which moved exactly $200 billion across FXCM’s platform. (FXCM’s best institutional month was August 2013 at $210 billion).

FXCM mo vol Mar14

It seems as though many institutional FX traders are turning their business toward the larger Retail FX brokers, preferring their STP/ECN services to those of the banks.

Is this a fallout of the FX rate rigging scandal involving many if not most of the world’s major commercial banks? Perhaps in part. But mainly, we believe, larger institutional traders just feel they are getting better service at the more service-oriented retail FX firms like FXCM, while at the same time getting best-pricing and fast execution.

FXCM rival Gain Capital, while mostly known for its retail Forex.com brand, has also seen a lot of growth among institutional traders, with its Gain GTX institutional business up about 60% from last year.

To see FXCM’s full March volume report click here.

For more on the global Forex industry see the LeapRate-Dow Jones Forex Industry Report.

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