Retail FX/CFDs ADV came in 34 per cent higher at about $8.6 million.
Retail FX/CFDs revenue stood at $63 million in Q2 FY25, while RPM dropped 34 per cent to $116.
A screenshot of Forex.com website
StoneX, the parent company of Forex.com and City Index, generated $70.9 million in revenue from FX and contracts for difference (CFDs) trading during the January–March quarter. That marked a 12% drop compared to the same period last year.
However, over the six months from October 2024 to March 2025, FX and CFDs revenue rose 9% to $169.5 million. Still, results point to a notable quarter-on-quarter decline.
Financials released on Thursday also showed that the average daily trading volume (ADV) in FX and CFDs climbed 10% year-on-year to $11.5 billion. But despite higher volumes, revenue per million (RPM) fell 19% to $97.
Retail Remains the Main Contributor
The retail division continued to drive the majority of StoneX’s FX and CFDs business. Operating revenue from this segment reached $63 million in the March quarter, down 13% from the same period last year. Net operating revenue slipped 15% to $55.4 million.
Sean O'Connor, CEO at StoneX Group
Retail ADV jumped 34%, but RPM fell by the same percentage to $116, highlighting margin pressure despite greater client activity.
StoneX acquired Forex.com and City Index in 2020 when it bought GAIN Capital for $236 million. The move more than doubled its global active retail accounts to 295,000. Today, the platform serves over 400,000 retail accounts worldwide.
Despite the revenue dip in FX and CFDs, these products still contributed to StoneX’s overall operating revenue of $956 million in the quarter—up 17% year-over-year. After expenses, net operating revenue was $487.3 million. Net income climbed 35% to $71.7 million.
“Over the last several years, though we have benefited from a rising interest rate environment, volatility—a key driver of our business—has been generally muted,” said Sean O’Connor, CEO of StoneX. “Since the beginning of this fiscal year, increased market volatility, combined with strong client acquisition and engagement, has helped offset the decline in short-term interest rates.”
StoneX is also strengthening its futures trading business. The company has signed a definitive agreement to acquire R.J. O’Brien, the oldest futures brokerage in the United States, for $900 million in equity.
StoneX, the parent company of Forex.com and City Index, generated $70.9 million in revenue from FX and contracts for difference (CFDs) trading during the January–March quarter. That marked a 12% drop compared to the same period last year.
However, over the six months from October 2024 to March 2025, FX and CFDs revenue rose 9% to $169.5 million. Still, results point to a notable quarter-on-quarter decline.
Financials released on Thursday also showed that the average daily trading volume (ADV) in FX and CFDs climbed 10% year-on-year to $11.5 billion. But despite higher volumes, revenue per million (RPM) fell 19% to $97.
Retail Remains the Main Contributor
The retail division continued to drive the majority of StoneX’s FX and CFDs business. Operating revenue from this segment reached $63 million in the March quarter, down 13% from the same period last year. Net operating revenue slipped 15% to $55.4 million.
Sean O'Connor, CEO at StoneX Group
Retail ADV jumped 34%, but RPM fell by the same percentage to $116, highlighting margin pressure despite greater client activity.
StoneX acquired Forex.com and City Index in 2020 when it bought GAIN Capital for $236 million. The move more than doubled its global active retail accounts to 295,000. Today, the platform serves over 400,000 retail accounts worldwide.
Despite the revenue dip in FX and CFDs, these products still contributed to StoneX’s overall operating revenue of $956 million in the quarter—up 17% year-over-year. After expenses, net operating revenue was $487.3 million. Net income climbed 35% to $71.7 million.
“Over the last several years, though we have benefited from a rising interest rate environment, volatility—a key driver of our business—has been generally muted,” said Sean O’Connor, CEO of StoneX. “Since the beginning of this fiscal year, increased market volatility, combined with strong client acquisition and engagement, has helped offset the decline in short-term interest rates.”
StoneX is also strengthening its futures trading business. The company has signed a definitive agreement to acquire R.J. O’Brien, the oldest futures brokerage in the United States, for $900 million in equity.
Arnab is an electronics engineer-turned-financial editor. He entered the industry covering the cryptocurrency market for Finance Magnates and later expanded his reach to forex as well. He is passionate about the changing regulatory landscape on financial markets and keenly follows the disruptions in the industry with new-age technologies.
Tokenized Stocks Reach All-Time High $1.2 B While ESMA Flags “Risk of Misunderstanding”
How does the Finance Magnates newsroom handle sensitive updates that may affect a brand?
How does the Finance Magnates newsroom handle sensitive updates that may affect a brand?
Yam Yehoshua, Editor-in-Chief at Finance Magnates, explains the approach: reaching out before publication, hearing all sides, and making careful, case-by-case decisions with balance and responsibility.
⚖ Balanced reporting
📞 Right of response
📰 Responsible journalism
#FinanceMagnates #FinancialJournalism #ResponsibleReporting #FinanceNews #EditorialStandards
Yam Yehoshua, Editor-in-Chief at Finance Magnates, explains the approach: reaching out before publication, hearing all sides, and making careful, case-by-case decisions with balance and responsibility.
⚖ Balanced reporting
📞 Right of response
📰 Responsible journalism
#FinanceMagnates #FinancialJournalism #ResponsibleReporting #FinanceNews #EditorialStandards
Executive Interview | Kieran Duff | Head of UK Growth & Business Development, Darwinex | FMLS:25
Executive Interview | Kieran Duff | Head of UK Growth & Business Development, Darwinex | FMLS:25
Here is our conversation with Kieran Duff, who brings a rare dual view of the market as both a broker and a trader at Darwinex.
We begin with his take on the Summit and then turn to broker growth. Kieran shares one quick, practical tip brokers can use right now to improve performance. We also cover the rising spotlight on prop trading and whether it is good or bad for the trading industry.
Kieran explains where Darwinex sits on the CFDs-broker-meets-funding spectrum, and how the model differs from the typical setups seen across the market.
We finish with a look at how he uses AI in his daily workflow — both inside the brokerage and in his own trading.
Here is our conversation with Kieran Duff, who brings a rare dual view of the market as both a broker and a trader at Darwinex.
We begin with his take on the Summit and then turn to broker growth. Kieran shares one quick, practical tip brokers can use right now to improve performance. We also cover the rising spotlight on prop trading and whether it is good or bad for the trading industry.
Kieran explains where Darwinex sits on the CFDs-broker-meets-funding spectrum, and how the model differs from the typical setups seen across the market.
We finish with a look at how he uses AI in his daily workflow — both inside the brokerage and in his own trading.
Why does trust matter in financial news? #TrustedNews #FinanceNews #CapitalMarkets
Why does trust matter in financial news? #TrustedNews #FinanceNews #CapitalMarkets
According to Yam Yehoshua, Editor-in-Chief at Finance Magnates, in a world flooded with information, the difference lies in rigorous cross-checking, human scrutiny, and a commitment to publishing only factual, trustworthy reporting.
📰 Verified reporting
🔎 Human-led scrutiny
✅ Facts over noise
According to Yam Yehoshua, Editor-in-Chief at Finance Magnates, in a world flooded with information, the difference lies in rigorous cross-checking, human scrutiny, and a commitment to publishing only factual, trustworthy reporting.
📰 Verified reporting
🔎 Human-led scrutiny
✅ Facts over noise
In this video, we take an in-depth look at @Exness , a global multi-asset broker operating since 2008, known for fast withdrawals, flexible account types, and strong regulatory coverage across multiple regions.
We break down Exness’s regulatory framework, supported trading platforms including MetaTrader 4, MetaTrader 5, Exness Terminal, and the Exness Trade App, as well as available account types such as Standard, Pro, Zero, and Raw Spread.
You’ll also learn about Exness’s leverage options, fees and commissions, swap-free trading, available instruments across forex, commodities, indices, stocks, and cryptocurrencies, and what traders can expect in terms of execution, funding speed, and customer support.
Watch the full review to see whether Exness aligns with your trading goals and strategy.
👉 Explore Exness’s full broker listing on the Finance Magnates Directory:
https://directory.financemagnates.com/multi-asset-brokers/exness/
📣 Stay up to date with the latest in finance and trading. Follow Finance Magnates for industry news, insights, and global event coverage.
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#Exness #ExnessReview #Forex #FinanceMagnates #ForexBroker #BrokerReview #CFDTrading #OnlineTrading #MarketInsights
In this video, we take an in-depth look at @Exness , a global multi-asset broker operating since 2008, known for fast withdrawals, flexible account types, and strong regulatory coverage across multiple regions.
We break down Exness’s regulatory framework, supported trading platforms including MetaTrader 4, MetaTrader 5, Exness Terminal, and the Exness Trade App, as well as available account types such as Standard, Pro, Zero, and Raw Spread.
You’ll also learn about Exness’s leverage options, fees and commissions, swap-free trading, available instruments across forex, commodities, indices, stocks, and cryptocurrencies, and what traders can expect in terms of execution, funding speed, and customer support.
Watch the full review to see whether Exness aligns with your trading goals and strategy.
👉 Explore Exness’s full broker listing on the Finance Magnates Directory:
https://directory.financemagnates.com/multi-asset-brokers/exness/
📣 Stay up to date with the latest in finance and trading. Follow Finance Magnates for industry news, insights, and global event coverage.
Connect with us:
🔗 LinkedIn: /financemagnates
👍 Facebook: /financemagnates
📸 Instagram: https://www.instagram.com/financemagnates
🐦 X: https://x.com/financemagnates
🎥 TikTok: https://www.tiktok.com/tag/financemagnates
▶️ YouTube: /@financemagnates_official
#Exness #ExnessReview #Forex #FinanceMagnates #ForexBroker #BrokerReview #CFDTrading #OnlineTrading #MarketInsights
FINANCE MAGNATES LONDON SUMMIT 2025
FINANCE MAGNATES LONDON SUMMIT 2025
The FMLS:25 highlights video is now live - a look back at the conversations, the energy on the floor, and the moments that shaped this year’s summit.
While that’s still fresh, the next launches across the FM Events portfolio are already taking shape.
FM Singapore takes place on the 12-14 of May, connecting the APAC market with its own distinct audience and priorities. FMAS:26 heads to Cape Town on 26–27 May shortly after, bringing the focus to Africa’s trading and fintech ecosystem.
Different regions. Different audiences. Same commitment to building the right rooms for meaningful conversations.
More details coming very soon. The launches are imminent. - here you go
The FMLS:25 highlights video is now live - a look back at the conversations, the energy on the floor, and the moments that shaped this year’s summit.
While that’s still fresh, the next launches across the FM Events portfolio are already taking shape.
FM Singapore takes place on the 12-14 of May, connecting the APAC market with its own distinct audience and priorities. FMAS:26 heads to Cape Town on 26–27 May shortly after, bringing the focus to Africa’s trading and fintech ecosystem.
Different regions. Different audiences. Same commitment to building the right rooms for meaningful conversations.
More details coming very soon. The launches are imminent. - here you go
