Foreign exchange and CFDs brokerage FXCM Group has just reported its operating statistics for the month ending October 2017, which were unable to recover from recent lows with weaker volumes ultimately preventing a rebound from last month’s dim figures.
During October 2017, FXCM’s monthly volumes came in at $192 billion, falling by a margin of 2 percent month-over-month from $198 billion in September 2017. Additionally, retail figures for last month were lower year-over-year, correlating to a drop of 29.0 percent relative to October 2016. The latest figure is the second monthly decline in a row, totaling nearly 14.0 percent from a peak earlier in August.
FBS Receives Best Forex Broker Europe 2019 Award by The European MagazineGo to article >>
FXCM’s average daily volume (ADV) for retail customer trading during October 2017 was also pointed lower to $8.7 billion, down 6.0 percent month-over-month from $9.3 billion in September 2017, and incurred a loss of 33 percent year-over-year against October 2016.
FXCM’s retail traders executed an average of 304,032 retail client trades per day in October 2017, shedding 9.0 percent month-over-month from 334,086 client trades in September 2017. This is lower by 36 percent year-on-year.
Meanwhile, FXCM’s active accounts saw a slight fall across the monthly interval, reporting 121,319 as of October 31, 2017, a decrease of 1,487, or 1.0 percent from 122,806 the month prior. In addition, the figure reflects a notable drop year-over-year and was lower by 10,964, or 8 percent relative to the same date a year back.