GAIN Capital’s July retail trading volumes wane, coming in at $212.7 billion

GAIN Capital’s July retail trading volumes wane, coming in at $212.7 billion

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GAIN Capital Holdings, Inc. (NYSE: GCAP), the second largest US forex broker by client assets, announced on Thursday its financial results for the first half and Q2 of 2016, as well as its July Operating Metrics. According to the company’s official press release, Gain Capital’s Over-the-counter (OTC) trading volume on July came in at $212.7 billion, 8.2% down MoM and 44.3% YoY.

In fact, Gain Capital’s retail trading volume continue to decrease heavily on a yearly basis since March this year: by 43.7% in June, by 38.7% in May and by 33.4% in April.

The broker’s July retail trading metrics also show that active OTC accounts remained flattish MoM, amounting to 139,007. The figure also represents a decrease by 6.5% from July 2015.

Meanwhile, Gain Capital’s institutional (ECN) trading volumes posted a decline MoM (by 18.2%) and an increase YoY (by 10.7%), coming in at $173.6 billion in July. We remind you that earlier this week Gain Capital’s institutional forex arm, GTX, reported that its July trading volumes dropped 16% from the previous month.

Gain Capital’s main competitor, FXCM, also reported its July Operating Metrics on Thursday. According to the data, its retail volumes continued the upward trend from June, coming in at $281 billion. The figure represents a slight increase by 2% from the previous month, and a decline of 11 YoY. In contrast to retail segment, institutional trading volumes in July posted a decline MoM (by 28%) and an increase YoY (by 11%), coming in at $41 billion.

In addition, Gain Capital’s net revenue for Q2 of 2016 seems to be in line with its July retail trading volumes: it came in at $108.3 million, registering a decline on a year-on-year basis, as well as compared to the previous quarter.

Set up in 2003, Gain Capital (NYSE: GCAP) is a New Jersey-based forex and CFD broker, operating the brands, City Index, GTX, and Gain Capital. It is active in North America, Europe and the Asia Pacific regions, serving both retail and institutional clients from more than 140 countries.

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