Unlike Gain Capital, which was today severely punished by capital markets (stock price dropped almost 20%), FXCM announced preliminary Q4 2011 and full 2011 results showing growth in all parameters. Although this is selective publication of only certain metrics it does show that FXCM’s revenue grew in both Q4 and in 2011 comparing to same periods in 2010.
NEW YORK, NY – February 29, 2012 – FXCM Inc (NYSE: FXCM), a leading online provider of foreign exchange, or FX, trading and related services, today announced anticipated fourth quarter and full year 2011 revenues and selected operating metrics:
Fourth Quarter Highlights:
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- 2011 fourth quarter revenues of $105.2 million, up 9% versus the same period in 2010
- Retail revenue per million of $98 per million
- Retail customer trading volume(1) for the fourth quarter 2011 was $972 billion, 16% higher than the fourth quarter 2010.
- Institutional customer trading volume(1) for the fourth quarter 2011 was $429 billion, 125% higher than 2010
- Full year revenues of $412.4 million, up 14% compared to 2010
- Retail revenue per million of $96 per million
- Retail customer trading volume for 2011 was $3.8 trillion, 19% higher than 2010
- Institutional customer trading volume for 2011 was $1.2 trillion, 56% higher than 2010
“2011 was a strong year for FXCM. We grew our active retail account base by 20% to 163,094 accounts, increased retail customer trading volume by 19% to a record $3.8 trillion, increased institutional customer trading volume by 56% to a record $1.2 trillion and closed two acquisitions in Japan, considerably increasing our position in that region, the world’s largest retail FX market,” said Drew Niv, Chief Executive Officer.
“As we start 2012, we are optimistic about a number of organic initiatives. E*TRADE’s recent announcement that it will launch foreign exchange trading using FXCM is an example of our recent success in growing our white label business. In addition, we continue to migrate our institutional clients onto our proprietary platform, which we believe will make us more competitive and capture more market share.”