Monex Group, a Japanese forex brokerage group, reported on Monday its operating revenue slightly exceeded JPY3.8 billion in April 2016, which is lower than any other monthly value it posted in the fiscal year, ended 31 March, 2016. The figure represents a decline of 1.4% from a month earlier and 19.4% over the year.
Operating revenue after expenses was JPY 3.5 billion in April, compared to JPY 3.6 billion in March and JPY 4.2 billion a year earlier. Earlier this month, Monex Group reported consolidated daily average revenue trades (DARTs), or the daily number of transactions that generate revenue per business day, of 299,629 in April, posting an monthly increase of 3.9% and an annual drop of 5.8%. Monex Inc. and TradeStation Group, two of the group companies, had DARTs of 189,416 and 110,929, respectively. In comparison, US-based peer Interactive Brokers reported DARTs of 662,000 in April.
Monex Group, although one of the most popular Japanese forex brokers, is in the lower-end in terms of monthly trading volume, compared to the rest of the world leaders. Although the broker did not publish monthly trading volume for April, as usual, in March March, its retail forex trading volume amounted to $28.3 billion, which is just a tiny fraction of the levels of the top performer, peer GMO Click Securities, which posted values of JPY 108.85 trillion, or about $982 million.
Monex Group operates under three retail trading brands – Monex, TradeStateion and Boom. The majority, or about 60%, of its revenue comes from operations in Japan and the remaining 40% from operations in the US.
It consists of Japan-based holding company Monex Group Inc. and its Japanese subsidiaries Monex Inc., Monex Ventures, Trade Science Corp., Monex Hambrecht, and Monex-Saison-Vnaguard Investment Partners, which is a joint venture in which the group holds a majority stake. In addition, the group owns TradeStation Group, which is in charge of the operations in North America and Europe, and Monex International, aka Monex Boom Group, which is in charge of the Asian business.
Source: Monex Group