FXCM June volumes look good
Leading retail FX firm FXCM, the world’s largest online FX broker, announced a nice jump in June trading volumes. Numbers came in at $317 billion retail volume for the month, up 4% from May, and $161 billion institutional volume, up 16%. At $478 billion total volume for the month, FXCM is once again nearing its all-time high levels seen in the months of August to November last year.
FXCM is a very good proxy for overall global trading volumes in the online FX business. It is the only FX brokerage with significant volumes in the each of the world’s three major markets — Europe, the U.S. and Japan. FXCM’s nice results for June — after a great May as well — are in line with what we have seen at Forex ECNs and aggregators including the CME Group, recently-acquired FXall (record volumes in June), and ICAP-EBS, with Thomson Reuters being the only negative outlier. At this point we expect a nice but modest rise in the June LeapRate Retail FX Volume Index, sponsored by Leverate — should be out next week.
FXCM June volumes look good Conclusion
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