FxPro releases Q1 results, confirms ECN model

FxPro releases Q1 results explained by professional Forex trading experts the “FxPro releases Q1 results” FX trading team.

FxPro releases Q1 results

As we reported several weeks ago, FxPro has now confirmed and announced that it is completely going the NDD/ECN route and stopping all market making activities. FxPro has invested a lot of time, money and man-hours alongside technology platform partners Spotware cTrader and Integral to make the transition. Management at FxPro, led by CEO Charalambos Psimolophitis, sincerely believe that this is the way to go for brokers dealing directly with retail clients, removing any conflict-of-interest with those clients, leaving the market-making to third party institutions.

FxPro also released Q1-2012 headline results, with volumes down slightly from 2011 levels to $95 billion per month in Q1 — FxPro averaged between $97 and $101 billion during each quarter of 2011. FxPro earned revenues of $16.5 million in Q1, down from average quarterly revenue of $21.2 million in 2011. The decrease was due in part to lower volumes and lower volatility in Q1, as well as the changeover to ECN brokering from market making, which is less profitable on a per-volume basis.

We believe that FxPro’s NDD/ECN makeover, and the investment they have made recently in both technology and people, as well as the opening of a UK office and the upgrading of its FSA license, position FxPro well to continue to grow in both the retail and institutional markets

FxPro releases Q1 results Conclusion

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