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

Karthik Subramanian

Karthik Subramanian has been a professional trader and fund manager over the last 18 years. He is basically a software developer who made the transition to financial domain around 18 years back as the attractiveness of the financial markets proved too much for him. He lives in Chennai in India along with his wife and son. He began his career as a software developer in 1999 and then gradually moved into the financial industry as he began trading stocks in his pastime. He then moved into the financial markets full time and then shifted his focus to the FX markets due to the liquid nature of these markets. Since then, he has been trading FX diligently and his favourite pair are the EURUSD and EURJPY. Over the last couple of years, he has found blockchain to be of high interest and considering his background in software and finance, he has since assembled a team of highly talented developers who have since worked on a variety of projects like crypto exchanges and blockchain architecturing. Now, he balances his time between trading and commenting on both the FX and crypto markets. He has worked with many publications including FX Street and Finance Magnates, which has helped him gain experience and also recognition across the industry. He loves to write and this passion has helped him to reach out across the FX and crypto industry. Right now, he works on his pet projects in the FX and crypto industry and spends his time writing and managing his blockchain team and helping it to reach higher.


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

February 13, 2018

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.

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