FXCM retail trading volume in September post 20% increase MoM

October 12, 2016

US forex giant FXCM announced on Tuesday certain trading metrics regarding its retail and institutional businesses for September and for the third quarter of 2016. According to the data reported, the broker’s retail trading volume for Q3 was $875 billion, 4% higher than the second quarter 2016. In September alone, FXCM’s retail trading volume posted a 20% monthly growth to $324 billion, which is the second best monthly result in 2016.

What is more, the average daily volume from retail trades stood at $14.7 billion in September, which represents an increase both over the month (by 26%) and on a yearly basis (by 0.7%). Active retail client accounts totaled 177,818 in September, slightly up from the previous month and down on the year. Compared to August, last month’s volumes from institutional trading services grew by 12%, coming in at $29 billion. The figure, however, represents a decrease of 38% compared to September 2015. FXCM’s institutional volumes for the third quarter of the year also dropped by 47% compared to the second quarter 2016, and by 27% than Q3 of 2015, coming in at was $96 billion.

In addition, FXCM handled on average 563,001 retail client trades in September and 41,397 institutional client trades per day. Meanwhile, FXCM’s main competitor, Gain Capital, also saw its Forex.com trading volumes picked up in September.

The FXCM Group is 50.1% majority owned by FXCM Inc. The rest of the group moved to the hands of Leucadia National Corporation as part of an agreement the two companies signed to amend the conditions of their credit letter agreements. Attempting to reduce its outstanding indebtedness to Leucadia, FXCM announced it intends to offer up to $15 million in shares for sale, and at the end of September the brokerage sold its DailyFX portal to IG Group.

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