Japan’s Monex Group has today reported its monthly consolidated financial results for February 2016, showing a drop from the previous month’s strong figures. The company reported that in the second month of 2016 total revenues amounted to ¥4.099 billion ($36.7 million), which is down 6.5 per cent compared with January’s equivalent (¥4.381 billion).
Looking at the financial expenses of the Monex Group for the month, the figure came in at ¥288 million ($2.58 million) which is lower by 20.2 per cent when compared to January 2016. As a result the operating revenue after financial expenses came in at just 5.2 per cent lower – ¥3.810 4.020 billion ($34.1 million).
Earlier this month Monex reported its business metrics for the month ending February 2016, which in contrast to the revenues showed the highest FX trading volumes of the last twelve consecutive months for the firm. The monthly FX trading value for all subsidiaries of Monex Group Inc totaled $42.9 billion in February 2016, up about 33.6% YoY from $32.1 billion in February 2015 and about 13.2% MoM from January’s figure of $37.9 billion.
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During February it was also revealed that Monex’s American subsidiary,TradeStation, is exiting the retail foreign exchange business in the U.S. and clients will be transferred to OANDA. It was also revealed that OANDA additionally acquired the clients of IBFX in Australia.