Wall Street likes FXall’s Q1 results


Forex ECN company FXall reported Q1 results Thursday, which seemed to please Wall Street investors on an otherwise negative day. While the Dow Jones Industrial Average was down by 62 points (about half a percent) on Thursday, FXall shares rose 1.5% after the firm announced Q1 results. 

FXall shares now sit 52% above their February 8 IPO price of $12 (see graph at bottom).

However a concerning trend among FXall’s numbers was the continued dwindling of its margins, measured in Average Transaction Fee per Million Traded:

We believe this downward, and troubling, trend is a reflection of increased competition in the Forex ECN business, which we believe will continue — both among the current market participants and due to new firms which are thinking of entering the business.

There was no new trading volume information in the release, as FXall already reported March numbers a few weeks ago. April numbers should be available soon.

FXall’s complete Q1 results can be accessed here. In addition, FXall’s pdf slideshow presentation on Q1 results can be downloaded here.

FXall share price chart since IPO (source: Google Finance).

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

Related News

arrow

Wall Street likes FXall's Q1 results

0

Send this to a friend

Fill out the form below for more information
for lising in LeapRate's Forex Yellow Pages

Please enter the company name, email address to reach you and phone # (optional):

Please fill out the message field to the right for any questions or special inquiry: