FXCM Group, a major foreign exchange and CFDs brokerage, posted trading volumes metrics for the month of March. The company, which includes its UK and Australian subsidiaries, posted a healthy rebound last month.
Retail client trading volumes totaled $225 billion in March, a figure that is higher by 12 percent when compared to February and lower by 28 percent when compared to the same month last year. Average daily volumes (ADV) amounted to $9.8 billion, which is lower by 3 percent when compared to February 2017 and by 28 percent when compared to March 2016.
The number of active accounts (which placed at least one trade over the last twelve months) increased by 314, or 0.2 percent month-on-month to 130,832. The number was lower by 1,794 year-over-year, or about 1 percent.
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Tradable accounts, which reflect the number of customers that have enough balance to place a trade, declined by 53 when compared to February and by 3,628 when compared to a year ago.
Q1 Trading Volumes
For the first quarter of 2017, the company reported a total of $679 billion, which is lower by 15 percent when compared to Q4 of 2016 and by 26 percent when compared to Q1 2016.
The Australian and UK subsidiaries of FXCM Group haven’t suffered any material client outflows as a result of the CFTC settlement which the company announced in February. Client numbers are steady and the firm’s trading volumes are broadly in line with industry trends for March.
Trading volumes throughout the first quarter of 2017 are materially weaker than last year, but then volatility during the period has not been particularly elevated. Volatility in stock indices and commodities trading has been particularly subdued when compared to the first three months of 2016.