US forex brokerage Forex Capital Markets, or FXCM, reported on Thursday its retail trading volume went down by 7% on the month to $309 billion in February 2016. The figure, however, represent an annual growth of 36%.
The broker’s daily retail trading volume averaged $14.7 billion in February, posting a decline of 11% over the month and an increase of 29% on an annual basis. Its retail clients executed on average 654,287 trades per day, which is 5% lower from the previous month and 45% higher than in the same period a year earlier.
FXCM handled 175,522 active accounts in February. This represents an increase on both a monthly and annual basis of 2% and 4%, respectively. Tradable accounts, or those with enough funds in them to allow placing a trade, went up on the month by 2% to 165,279, which represents a declime of 10% if compared over the year.
Some other forex brokers have also posted their February trading volumes, most of which reported a monthly increase in their metrics. For instance, Japanese brokerage Monex Group posted last month a monthly increase in trading volume from global forex operations of 13% to $42.9 billion, while GMO Click Securities and FX Prime by GMO, both part of Japanese forex brokerage GMO Click Holdings, saw their February OTC forex trading volumes up by a monthly 17% to JPY 144.3 trillion and by 32% to JPY 16.8 trillion, respectively. Meanwhile, the trading volume of Saxo Bank, a Danish bank specialized in providing online trading services, stayed flattish at $259 billion in February, while Exness, a forex brokerage regulated in Cyprus and Belize, said its trading volume went down by a monthly 2.5% to $192.4 billion last month.
FXCM’s main competitor, US-based Gain Capital Holdings, is yet to post its monthly metrics for February.
FXCM is registered with the relevant regulatory bodies of the US, the UK, Germany, Italy and Australia. It provides forex and contracts for difference (CFDs) trading, spread betting and related services to retail and institutional customers alike. Through its offices in the US, the UK, Germany, Australia, France, Italy, and Greece, and affiliate offices in Canada, Israel, Chile, Japan, and China, the broker offers 40 currency pairs on the Trading Station and MetaTrader 4 (MT4) trading platforms.