The holding company that includes the EU branches of FXCM UK and FXCM Australia has released its monthly metrics for February 2017. The company registered a monthly decline in trading volumes, excluding the US operations of the firm.
For February FXCM Group reports a decline in retail trading volumes totaling 21 percent when compared to the previous month. The nominal figure for last month amounted to $201 billion. The number is also lower by 33 percent when compared to February 2016.
The trading volumes of the forex and CFDs trading provider are in line with a broader industry trend in February. A variety of factors have contributed to a pause in recent trends of US dollar strengthening, with the majority of FX markets entering into a consolidation phase.
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The Average Daily trading Volumes (ADV) were marked at $10.1 billion in February 2017. The figure is lower by 16 percent when compared to January 2017 and lower by 29 percent than February 2016.
Average Trades Decline Due to Range Trading
The number of trades that were executed on a monthly basis also dropped. An average of 408,446 client trades per day were registered last month. The number is lower by 16 percent when compared to January 2017 and by 29 percent when compared to February 2016.
Active retail accounts totaled 130,432 as of the end of February. The figure is lower by 1,576, or 1 percent, from the end of January 2017, and lower by 2,827, or 2%, when compared to the end of February 2016. FXCM Group considers a trading account to be active if the client has placed at least one trade in the past 12 months.
Tradable accounts totaled 109,133 as of the end of February, which is higher by almost 3,000 or 3 percent when compared to January, and lower by a touch over 2,000 when compared to the same month of 2016. Tradable accounts are considered to be all accounts that have sufficient funds to place a trade.