March proved to be a month where many online brokers lost their initial optimism from first two months of the year 2016 and Saxo Bank, GAIN Capital were not an exception.
Saxo Bank has just published its operating metrics for March 2016, showing its fx volumes falling over the. Nevertheless, we could see an increase in client’s deposits.
Saxo Bank’s monthly trading volumes during March 2016 reached $254 billion in total, falling 1.9% from February’s $259 billion. Here we have to mentioned that February was the strongest month for trading activity in more than for the broker. On an annual basis, the trading volume showed a hike of 1.6% in March 2016 ($250 billion in March 2015).
As Saxo informed, average daily volumes in the month reached $11 billion, what is a decline of 10.6% from February 2016 and a drop of 3.5% in comparison with March 2015.
On the other hand, client’s deposits showed an uptrend, providing further $11.64 billion over the month to the broker, what is an increase of 6.3% on monthly basis.
You can read the full report here.
GAIN Capital disappointment
Another online forex broker – Gain Capital Holdings Inc has just published its key operating metrics for, showing a retail and institutional trading volumes decrease. Such downtrend has already been seen in February 2016.
It is not a surprise to see a fall in March, as most of the forex brokers experienced negative month regarding the trading volumes. Moreover, the decline in March 2016 trading volumes saw only a 3.5% decline in retail sector and 2.8% in institutional sector, what was relatively optimistic in comparison with most of the other brokers during this month.
As for the retail metrics, the OTC average daily volume (adv) reached $11.6 billion, what is a drop of 11.9% compared to February 2016 and 23.0% on an annual basis. In total, OTC trading volume reached $266.7 billion, falling 3.5% from February 2016 and 19.5% from March 2015. Active OTC accounts of 136,559, a decrease of 5.0% from February 2016 and an increase of 37.9% from March 2015.
In the institutional sector, ECN adv reached $7.4 billion, easing 11.2% from February 2016 and 19.1% over the year. Trading ECN volumes reach $169.1 billion, only 2.8% in comparison with February 2016 and 15.4% when compared to March 2015.
As for the futures segment, average daily contracts reached over the month 35,561 contracts, declining 3.9% from February 2016 and 15.8% on an annual basis. Together futures contracts reached 782,352, rising 5.7% over month and falling 15.8% from March 2015. Active futures accounts rose 0.8% to 8,890 over month in March 2016 and added 3.8% over year from March 2015.
To read the entire statement, click here.
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