FXCM Reports Strong Trading Volume in January 2018 Following the Industry Wide Trends

Leading online global forex and CFD brokerage firm, FXCM Group has reported a strong operating statistics for the month ending on January 2018. During the month, the group’s monthly volume came in at $250 billion, a 46 percent increase month-on-month from $171 billion in December 2017. This operating metrics also marked the industry-wide trends of strong volume growth in January by leading retail and institutional Fx trading venues and brokers.

On a year-on-year basis, FXCM has registered a 1 percent drop in the volume growth, which was $253 billion in January 2017. But, the January 2018 figure is most upbeat in the past 12 months as it recovered from the recent lows in the last couple of months. For the comparison purpose, FXCM had an average monthly trading volume of $207 billion in 2017.

During the month, the average daily trading volume from the retail customer was $11.4 billion, an increase of 27 percent month-over-month from $8.6 billion in December 2017, but is 5 percent lower compared to the January 2017 metrics which was $12 billion. On an average, 352,867 retail clients executed trades per day in January 2018, a rise of 18 percent month-over-month from 299,332 ‎client trades in December 2017, but it is 28 percent lower from the previous year figure.

In terms of active accounts, FXCM witnessed a fall across the monthly interval, reporting 114,893 as of January 31st, 2018, a fall of 1,369 or 1 percent from 116,262 compared to‎ previous month. Also, on the yearly basis, it has registered a big drop of 13 percent or 17,203 accounts. Tradeable accounts during the month were 95,223, a decrease of 0.7 percent or 716 compared to previous month and a decrease of 10 percent or 10,983 from January 2017.

Brendan Callan, CEO
Brendan Callan

The strong trading volume result was guided by the huge volatility in the forex market due to the weakness in the US dollar after comments from the US Treasury secretary which also resulted in major price volume action in major currency pairs. This strong volume results also helped FXCM to come past from an untoward incident in which its then CEO Drew Niv and the company was banned from the US forex industry for fraud involvement happened in February 2017. The results also set the good indication that the new management team led by CEO Brendan Callan is moving in the right path.