Top FX and CFD trading industry news stories of 1H-2024
The first half of 2024 saw prop firm chaos, broker share price rises, neobroker failures and CEO changes in the FX and CFDs industry.
The first half of 2024 saw prop firm chaos, broker share price rises, neobroker failures and CEO changes in the FX and CFDs industry.
A good barometer of what’s going on overall in the global FX and CFDs brokerage sector is taking a look at the publicly traded brokers.
At the current share price, CMC Markets has a market capitalization of just over £300 million (USD $379 million).
It was (overall) a good market for FX/CFD brokers in 1H-2023, but with some brokers clearly doing better than others.
At its current share price of £15.68, Plus500 is trading at multiples of 2023e consensus results of 3.0x Revenue and 8.1x Profit.
European exchanges are off by between 2-3% on Monday, playing some catch-up to the Friday declines in the US.
It was very much a haves versus the have-nots Retail FX/CFDs industry in 2022.
Investors and traders seem to be selling last year’s “did well” stocks, without much regard to current performance and outlook.
While equity markets globally are taking a hit today, a number of Retail FX firms have reacted especially harshly.
Two of 2021’s market darlings among public traded Retail FX brokers – Swissquote and NAGA.com – have performed the worst YTD in 2022.