FXCM, one of the leading forex and CFD broker across Europe, just released a set of optimistic key metrics concerning the retail forex business for September 2014. The online broker reported a record month for its retail and institutional foreign exchange business coming on the back of strong volatility in global financial markets that saw the EURUSD exchange rate fall as much as 4.50% in only one month and that saw the FTSE100 down 10% from its September highs.
FXCM reported record figures in both its retail and and institutional business
FXCM reported strong figures in-line with industry peers (such as IG or Plus500). In its retail division, the broker saw total monthly volumes reach $414 billion (beating the previous monthly record of $396billion) with its institutional unit also surprising on the upside reaching $362 billion (also beating the previous monthly record of $255billion).
Key September 2014 retail metrics from FXCM
FXCM Retail customer trading volume of $414 billion in September 2014, 38% higher than August 2014 and 45% higher than September 2013. Volume from indirect sources was 47% of total retail volume in the third quarter 2014.
Retail customer trading volume for the third quarter 2014 was $977 billion, 27% higher than the second quarter 2014, and relatively flat when compared to third quarter 2013.
Average retail customer trading volume per day of $18.8 billion in September 2014, 31% higher than August 2014 and 38% higher than September 2013.
An average of 482,784 retail customer trades per day in September 2014, 23% higher than August 2014 and 26% higher than September 2013
FXCM Tradable accounts of 212,019 as of September 30, 2014, an increase of 12,642, or 6% from August 2014, and an increase of 23,031, or 12%, from September 2013. Tradable accounts as of September 30, 2014 include 12,575 accounts acquired from IBFX.
Binary option traders should also see increased volatility as an opportunity
This figures from FXCM show that retail investors took advantage of the high volatility that characterized the month of September for the forex market. Since binary option traders are also looking for volatility in financial markets (and especially on forex) in order to draw clear trends and benefit form direction trading, we believe that binary option broker metrics will also be up for the month of September.