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FXCM's shares rise 6% on the first day

FXCM’s shares were only admitted to trading today but were already successful with traders – FXCM’s stock rose over 6%

Michael Greenberg | Brokers ( Retail FX ) | Friday, 03/12/2010 | 00:07 GMT+2

Photo: Michael Greenberg

FXCM’s shares were only admitted to trading today but were already successful with traders – FXCM’s stock rose over 6% to $14.84 from the initial IPO price of $14 in a turnover of some $100 million giving a market cap over $1.1 billion. The price rise on a first, post-IPO, day is however not uncommon. I believe we’ll see the price increase and more turnover in this stock over time as it is for now the only public retail forex broker – and this attracts much interest.