FxPro IPO details

Consider this as my New Year's gift to my readers :) Happy New Year everybody.

With the help of some good friends I was able to put my hands on some FxPro IPO data. I will present some of the key facts below. It is quite amazing what this 4 year old broker has achieved in such short period.

First of all FxPro's P&L:

Looks like FxPro is almost doubling its Revenue from year year.

Here are some more interesting facts:

• Regulated in Cyprus and the UK
• As of June 2010 FxPro had 17,000 active accounts
• Employs 170 people, offices in Cyprus, Nice, Vienna, London, Athens, Moscow and Madrid
• FxPro seeks IPO as a mean to increase its profile in the world, especially in Western Europe
• In June 2008 FxPro acquired 10,800 clients of North Finance limited
• May be seeking ASIC license in Australia as it has an Australian daughter company
• 32% of business coming from IBs (typical for online Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term brokers)
• $40 million in customer deposits at the end of H1 2010
• Monthly net deposit $8-10 million, gross deposit around $17 million (quite a staggering figure)
• Monthly volume ~$55 billion (my estimate was spot on)
• Average trading revenue per client per month $1000 (higher than any other Forex Broker Forex Broker In the forex space, a broker is any company that can provide traders with access to a platform that permits the buying and selling of multiple currencies.The retail forex industry has grown over the past two decades to include every major jurisdiction, which in turn has necessitated new regulatory oversight. Relative to the institutional sector, retail brokers are rather small portion of the greater forex market. However, traders can rely on brokers for leveraged trading in a 24-hour-a-day marke In the forex space, a broker is any company that can provide traders with access to a platform that permits the buying and selling of multiple currencies.The retail forex industry has grown over the past two decades to include every major jurisdiction, which in turn has necessitated new regulatory oversight. Relative to the institutional sector, retail brokers are rather small portion of the greater forex market. However, traders can rely on brokers for leveraged trading in a 24-hour-a-day marke Read this Term I know)

It is my hope that FxPro will succeed with its IPO as it'll pave way for more brokers to go public and will bring further transparency to our industry. Something tells me that 2011 is going to be a pivotal year for the retail forex industry.