FXCM’s July Retail Volumes Rise Steadily Despite Institutional Pullback

FXCM's retail volumes rebounded slightly in July, though institutional figures took a nosedive MoM.

FXCM (NYSE:FXCM) has just reported its latest tranche of volumes and statistics for July 2016, which underwent a generally mixed performance across its retail and institutional segments – the trends that have enveloped FXCM’s volumes in 2016 remain largely intact heading into H2 2016.

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In terms of retail trading metrics, during July 2016, FXCM’s monthly volumes came in at $281.0 billion, rising by a factor of 2.2% MoM from $275 billion in June 2016. The latest figures help pare the recent losses in volumes seen last month at FXCM, though the general downtrend in retail volumes that began in January 2016 has been unable to reverse.

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The latest retail figures for July 2016 were also lower YoY when compared to 2015, as July 2015’s total retail volumes of $317 billion correlated to a fall of -11.7% YoY. Moreover, FXCM’s average daily volume (ADV) for retail customer trading during July 2016 did manage to rise to $13.4 billion, up 7.2% MoM from $12.5 billion in June 2016, though lower by less than -3.0% YoY against April 2015.

Finally, FXCM’s retail trades executed an average of 578,471 retail client trades per day in July 2016, registering a -1.2% MoM decrease from 585,295 in June 2016 – this was reinforced by a 9.0% YoY climb from July 2015. By extension, FXCM’s tradeable accounts also came in slightly better during July 2016, reporting 171,669 vs. 171,507 accounts in June 2016, or less than 1.0% higher MoM.

Institutional Focus

Looking at FXCM’s institutional customer trading volume, July 2016 yielded a total of $41.0 billion, retreating -28.1% MoM from $57.0 billion in June 2016. Despite this pullback, FXCM’s institutional business is still 11.0% higher YoY than July 2015, which has largely been bolstered by a resurgence in the 2016 calendar year.

Institutional ADV also yielded $2.0 billion during the month ending July 2016, sliding back -23.1% MoM from $2.6 billion in June 2016. Much like its total volumes, FXCM’s institutional ADV was a steady 25.0% higher YoY from June 2015. Finally, FXCM’s institutional trades executed an average of 40,413 client trades per day in July 2016, good for a bounce of 35,640 client trades per day in June 2016, or 13.4% MoM.

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