StoneX registers 32% Y/Y drop in FX/CFD revenues in Q1 FY23
StoneX saw operating revenues derived from FX/CFD contracts decline 32% to $48.8 million in the three months to December 31, 2022.
Forex.com is one of the oldest and most recognizable brands in online Retail FX and CFD trading. It was the leading brand of publicly traded brokerage Gain Capital Holdings Ltd., which also operated City Index in the UK and the GTX institutional FX trading operation.
Bedminster, NJ based Gain Capital was acquired by StoneX Group (Nasdaq:SNEX), formerly INTL FCStone, in July 2020 for $236 million, and since then Forex.com is a unit of StoneX.
Forex.com trading volumes have averaged about $200 billion per month in 2020.
StoneX saw operating revenues derived from FX/CFD contracts decline 32% to $48.8 million in the three months to December 31, 2022.
Retail Forex broker FOREX.com, part of StoneX, is raising the Annual Percentage Yield (APY) on account balances.
The move marks something of a homecoming for Michael Boutros, who began his FX industry career with FOREX.com in 2006.
The National Futures Association (NFA) has ordered GAIN Capital Group LLC to pay a $700,000 fine.
StoneX saw operating revenues derived from FX/CFD contracts increase $25.7 million, or 46%, to $81.4 million in quarter to end-September 2022.
The NFA charges GAIN Capital with improperly adjusting customer accounts, in apparent violation of NFA Compliance Rule 2-43(a)(1).
FOREX.com announces new offering with trading software company Capitalise.ai, to deliver user-friendly automated trading strategies.
Retail FX broker FOREX.com offers its clients to check whether they have any bad trading habits via Performance Analytics.
FOREX.com Japan has informed its clients of revision of certain documents due to its trade name change.
StoneX’s CFD business generated average daily trading volumes (ADV) of $13.1 billion in Q3 2022, down from $14.9 billion the previous quarter.