The numbers are in and once again, industry hotshot FXCM killed it! This past June, headline retail trading revenue for FXCM hit a whopping $396 billion. Meanwhile, the institutional trading division clocked in an additional $184 billion. Combining these two figures, we get a total of $580 billion, just a shade under its record $581 billion figure for May!
A close look at the numbers will give us more evidence that FXCM’s retail trading division’s performance this past quarter was, in fact, extraordinary.
The $396 billion figure for retail trading was actually 1% higher than May 2013’s number, as well as a whopping 25% higher than June 2012’s.
Overall, customer trading volume for the quarter was at $1.15 trillion, which was 11% higher than Q1 2013 and 33% more than Q2 2012. It appears that customers are simply just trading more, as an average of 558,628 trades were made every day in June, which was 12% more than in May 2013 and 31% greater than June 2012.
Active tradeable accounts also ticked higher, increasing 5% from last June to 182,225.
As for the institutional arm, a quick glance would make you think that it underperformed, as the trading volume figure of $184 billion is actually 4% lower from last month.
However, looking deeper, we can actually see that June wasn’t so bad. Trading volume for June 2013 is 14% higher compared to June 2012. The average institutional trading volume, which stood at $9.2 billion for the month, was 10% higher than it was in May and 20% higher from June 2012.
There was also an average of 40,604 institutional clients per day. That figure translates to a 3% increase from May and a whopping 126% growth from last year!
FXCM’s positive figures for June only support what analysts have long predicted, which is that the forex industry continues to grow! Sure, this data is only from one broker but we gotta remember that FXCM is one of the biggest players around and has been consistently posting great numbers so far this year.
It will be interesting to see if other brokers would follow suit!