The quarterly financial reports of retail forex broker FXCM Inc (NYSE:FXCM) have been increasingly difficult to decipher. On paper, FXCM just reported a $60.5 million net profit for Q2 on revenues of $70.6 million. Which looks great. However a number of accounting charges mask what is really going on. The highlights from our standpoint are: Revenues…
Read moreForex broker FXCM Inc (NYSE:FXCM) has filed a shelf prospectus with the U.S. Securities and Exchange Commission (SEC), indicating that the company is planning to raise in the neighborhood of $125 million in the near future. According to the prospectus, the capital raise could be in the form of equity, debt, or some combination thereof.…
Read moreRetail forex broker FXCM Inc (NYSE:FXCM) continues to report some of the highest FX trading volumes in the industry month by month, with May 2016 coming in at $280 billion. After narrowly avoiding bankruptcy early last year in the immediate aftermath of the January 15, 2015 surprise Swiss Franc spike by securing (over the course of…
Read moreLots of news out of FXCM Inc (NYSE:FXCM) last night. As reported at LeapRate, after US markets closed Thursday at 21:00 GMT, FXCM released its: February FX trading volumes (not bad, all-important retail volumes remain above $300 billion), Q4 and full year financial results (again not bad, Q4 revenues were actually up a bit over…
Read moreFollowing the trend we have seen from other leading retail forex brokers, FXCM Inc (NYSE:FXCM) has reported strong volume metrics for the month of December, which is normally a seasonally slow period. December retail forex volumes at FXCM came in at $323 billion, 8% higher than November 2015 but 9% lower than December 2014. For the full…
Read moreWe don't often make predictions at LeapRate, especially when it comes to share prices of publicly traded companies. However this one seems to have panned out. Our first reaction to FXCM's December 11 announcement that it is attempting to renegotiate the terms of its $300 million rescue loan with Leucadia National Corp (NYSE:LUK) was: Without looking…
Read moreFXCM shares were actually up 69% at one point, after management gave shareholders hope that there might be life after Leucadia.
Read moreAfter its shares dropped to another all-time low Friday, FXCM put out a press release hinting at a reprieve from their very restrictive agreement with Leucadia.
Read moreWe also review a so far underlooked but very important number in FXCM's Q1 report - $30 million in interest expense, for a company with $69 million in revenue.
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