FXCM Reports ex-US Monthly Metrics, Revealing Massive Cost of US Operation

The company’s US metrics in December accounted for about 11.5 percent of total trading volumes.

Retail foreign exchange brokerage FXCM published its trading volumes for the month of January via its Investor Relations website. The company excluded its US operations from the preliminary figure for January due to the imminent sale of its US accounts to GAIN Capital Holdings.

The broker reports that throughout January 2017 the total number of trading volumes that were transacted via the brokerage totaled $253 billion. The ex-US number was higher by 18 percent when compared to December 2016 figures and lower by 17 percent when compared to January 2016.

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The figures show that December’s ex-US trading volumes came to about $208 billion. The number shows that the share of US trading volumes for FXCM amounted to just above 11 percent of the monthly total. The company’s US trading volumes in December amounted to about $23 billion.

Considering the amount of savings which the company realized from its exit from the US market, FXCM’s exit could be the factor that helps the firm to achieve the repayment of its loan from Leucadia National.

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Detailed January Metrics

The average daily volume totaled $12.0 billion in January 2017, which is higher by 18 percent when compared to December 2016 and by 21 percent when compared to January 2016.

Looking at the average number of client trades per day, the amount totaled 488,917. The number is up by 15 percent when compared to December 2016 and down by 18 percent year-on-year.

The number of active retail accounts totaled 132,008 as of January 31st, 2017. This value decreased by 448, or 0.3 percent, when compared to December 31st, 2016, but is also higher by 1,281 when compared to January 31st 2016.

Trading accounts that had sufficient equity to place a trade totaled 106,206 as of the end of January this year. This figure is higher by 624 when compared to December 2016, but lower by 2,887, or 3 percent, when compared to the first month of 2016.

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