US retail FX giant GAIN Capital recorded weaker trading metrics in August, a report published on Wednesday showed.
Retail over-the-counter trading figures for August totaled $183.3 billion, remaining flat from July 2014. However, this was a growth of 48.8 percent from August 2013, which is a very spectacular performance considering that last year, FX markets were very vibrant.
Average daily retail volumes in all GAIN Capital’s ventures totaled $8.7 billion in August, a growth of 9.6 percent from the previous month. The figures also increased 55.9 percent from August 2013. The number of active client accounts totaled 92,911, a decline of 0.5 percent from July 2014. However, the figures rose 42.3 percent from August 2013.
The number of futures contracts stood at 512,731, a decline of 14.7 percent from July 2014 and a growth of 9.9 percent from August 2013. The average number of daily futures contracts stood at 24, 416, a decline of 6.6 percent from July 2014 and a growth of 15.1 percent from August 2013. The number of total funded accounts stood at 131,178, virtually unchanged from July 2014. However, this was a growth of 39.0 percent from August last year.
Though retail trading metrics stagnated in August from July, GAIN Capital’s institutional business reported lower trading figures, with volumes declining 12.7 percent to $344.7 billion. However, this represents a growth of 27.4 percent from August 2013.
The average daily institutional volumes totaled $16.4 billion, down 4.4 percent from July 2014 and a growth of 33.5 percent from August 2013. For full announcement, please read this press release.To register for a free 2-week subscription to ForexMinute Premium Plan, visit www.forexminute.com/newsletter.
To contact the reporter of this story; Yashu Gola at yashu@forexminute.com
