Japan’s Forex sector is on fire, driving record trading volumes and financial results for forex brokers.
Monex Group of Japan, a mid-size Japanese forex broker which also owns TradeStation and IBFX in the US, reported Q2 results today which, as expected, showed healthy gains across the board in revenues, net profit, and client assets. Monex showed a 91% rise in forex trading volumes in April, although volumes slowed somewhat during May and June.
Monex revenues in Q2 hit ¥16.8 billion ($168 million), more than double the ¥8.1 billion Monex did in Q2-2012, and up 30% from Q1’s revenues of ¥12.9 billion.
Monex also did well on the bottom line, earning net income after taxes of ¥5.1 billion ($51 million) in Q2, a nice 30% net profit margin (Monex’s profit-before-taxes margin was actually right at 50%), versus ¥2.4 billion in Q1.
For the complete Monex Group press release on Q2 results click here (pdf).