Overall the June 2011 metrics were lower compared to May 2011 metrics but higher than June 2010 metrics. Normally brokers expect lower volume in the summer months due to lower volatility, but the ongoing Greek debt crisis caused an increase in volume from summer 2010 . I expect the July metrics to be even higher than June. To increase transparency in this industry, I encourage other brokers to release their operating metrics.
“I am pleased to see our strategy producing solid results in our operating metrics,” said Drew Niv, President and CEO of FXCM. “We believe we are well positioned to continue to capitalize on growing interest in foreign exchange and FXCM’s agency model, which we believe differentiates us from our competition.”
Retail Trading Metrics
- Retail customer trading volume(1) of $317 billion in June 2011, 3% lower than May 2011 and 10% higher than June 2010. Retail customer trading volume for the second quarter 2011 was $938 billion, the highest in FXCM history and 14% higher than first quarter 2011 and 14% higher than second quarter 2010. Volume from referring brokers and white labels was 57% of total retail trading volume in the second quarter 2011.
- Average retail customer trading volume(1) per day of $14.4 billion in June 2011, 3% lower than May 2011 and 10% higher than June 2010.
- An average of 363,557 retail client trades per day in June 2011, no significant change from May 2011 and 13% higher than June 2010.
- Tradeable accounts(3) of 171,138 as of June 2011, an increase of 3,294, or 2%, from May 2011, and an increase of 5,851,or 4%, from June 2010.
Institutional Trading Metrics
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- Institutional customer trading volume(1) of $72 billion in June 2011, 10% lower than May 2011 and 8% higher than June 2010. Institutional volume for the second quarter 2011 was $214 billion, the second highest in FXCM history and 2% lower than the record first quarter 2011 and 7% higher than second quarter 2010.
- Average institutional trading volume(1) per day of $3.3 billion in June 2011, 10% lower than May 2011 and 8% higher than June 2010.
- An average of 7,263 institutional client trades per day in June 2011, 16% lower than May 2011 and 100% higher than June 2010.
(1) Volume that FXCM customers traded in period translated into US dollars.
(2) An account that has sufficient funds to place a trade in accordance with FXCM trading policies.