However Swissquote’s eForex volumes were down, despite a rise in client assets.
Leading Swiss online brokerage Swissquote (a member of LeapRate’s Approved List of global Forex brokerage firms) announced today that FX volumes were down in Q1 to average $24 billion per month (CHF 22 billion), down 11% from Q4-2012 levels. This despite a 4% rise in clients’ FX assets at Swissquote, to total $136 million (CHF 127.9 million) by quarter end.
However, at the company level, revenue saw a nice bounce of 8.4% in Q1 to total CHF 28.4 million ($30.4 million) for the quarter, with profits increasing over 26% over Q4 to total CHF 5.5 million ($5.9 million).
Swissquote shares (SQN.SW), trading on the SIX Swiss Exchange, took a bit of a hit in early trading Monday morning after the results were announced, down 5%; however Swissquote shares have done very well the last while, as per the chart below.