FXCM November metrics rise MoM, YoY

December 14, 2016

Major US forex broker FXCM reported that its November trading metrics have risen both from October and from November last year.

According to the company statement, the retail customer trading volume reached $353 billion. This is 16% higher than October, when it was $305 billion, and 18% higher than November 2015. The daily retail trading volume averaged $16.1 billion –11% higher than October 2016 and 13% higher than last November. 

FXCM's retail customers made an average of 613 233 trades per day, which is a 14% increase from October and 26% rise from November 2015. 

The number of active accounts (an account that has traded at least once in the previous 12 months) as of November 30, 2016 was 179 432. This is 1483 (1%) more than in the last day of October, but 473 (0.3%) less than on November 30, 2015. 

The number of tradeable accounts (an account with sufficient funds to place a trade in accordance with FXCM trading policies) in November also rose and stood at 155 928, or 1% more than October. When compared to last November, however, it dropped 3%. 

FXCM Pro, the institutional arm of FXCM, also reported improved November metrics. The total monthly volume stood at $28 billion, which is 17% higher than October. In comparison to last November, however, it posted a 32% drop. The average daily institutional trading volume was $1.3 billion – 18% higher than October and 35% lower than November. 

In November FXCM's institutional clients made an average of 35 712 trades per day. The number represents a 5% decrease from October 2016 and 12% increase from last November. 

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.

Forex Capital Markets is one of the few brokers who still operate in the US. It is a registered Futures Commission Merchant (FCM) and Retail Foreign Exchange Dealer (RFED) with the US Commodity Futures Trading Commission (CFTC). It has units registered and regulated with the relevant authorities in the US, the UK, Australia, and France. The broker offers forex, CFDs, and spread betting services.

Earlier this month FXCM's main competitor on the US forex market, Gain Capital, whose major brand is Forex.com, also reported improved November metrics.

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