FXCM Reports Record Revenue in Q1, High Trading Volume

US based Forex Broker FXCM reports its quarterly financial report, which saw revenues of $122.9 million, 20% more than the same quarter in 2012. The company also released operating metrics for April, which saw retail customer volume jump 48% in comparison with April 2012 and institutional volume leap 78%, and reach the highest levels ever for the firm.

FXCM has recently made an offer to buy Gain Captial. Eventually, Gain bought GFT and the proposal didn’t go through. Here are the details of the Q1 report and the April metrics, from the official press release:

First Quarter 2013 Highlights:

• Revenues of  $122.9 million, up 20% versus the same period in 2012 and highest in  FXCM  history
• US GAAP net income attributable to  FXCM Inc.  of  $6.9 million  or  $0.23  per fully diluted share up 138% and 44% respectively versus the same period in 2012
• Adjusted Pro Forma EBITDA of  $43.8 million, up 76% versus the same period in 2012
• Adjusted Pro Forma net income of  $17.5 million  or  $0.23  per fully exchanged, fully diluted share up 40% and 35% respectively versus the same period in 2012

April 2013  Operating Metric Highlights:

• Retail customer trading volume of  $366 billion, 48% higher than  April 2012  and third highest in  FXCM  history
• Institutional customer trading volume of  $183 billion, 78% higher than  April 2012  and highest in  FXCM  history

NEW YORK–(BUSINESS WIRE)–  FXCM Inc.  (NYSE:  FXCM), a leading online provider of foreign exchange, or FX, trading and related services, today announced for the quarter ended  March 31, 2013, revenues of  $122.9 million, compared to  $102.6 million  for the quarter ended  March 31, 2012, an increase of 20%. U.S. GAAP net income attributable to  FXCM Inc.  was  $6.9 million  for the First Quarter 2013 or  $0.23  per diluted share, compared to  $2.9 million  or  $0.16  per diluted share for the First Quarter 2012, an increase of 138% and 44% respectively.

Adjusted Pro Forma EBITDA for the First Quarter 2013 was  $43.8 million, compared to  $24.9 million  for the First Quarter 2012, an increase of 76%. Adjusted Pro Forma Net Income was  $17.5 million  or  $0.23  per share for the First Quarter 2013, compared to  $12.5 million  or  $0.17  per diluted, fully exchanged share for the First Quarter 2012, an increase of 40% and 35% respectively.

“FXCM turned in one of its best quarters with record revenues and our second highest EBITDA ever,” said  Drew Niv, Chief Executive Officer. “Having grown our client base so significantly over the past few years, we were well positioned to benefit from the improvement in currency trading conditions that occurred in the first quarter of this year.”

“FXCM today is over four times the size in client equity than it was just five years ago,” he continued.

Adjusted Pro Forma results assume the conversion and exchange of all  FXCM Holdings, LLC Units into  FXCM Inc.  Class A common stock, resulting in the elimination of the non-controlling interest and the corresponding adjustment to the entity’s tax provision. In addition, Adjusted Pro Forma results eliminate the equity based compensation expense regarding a grant of stock options at the time of FXCM’s initial public offering (“IPO”) in  December 2010  as well as certain other non-recurring charges.

FXCM Inc.  today announced certain key operating metrics for  April 2013  for its retail and institutional foreign exchange businesses. Monthly activities included:

April 2013  Operating Metrics

Retail Trading Metrics

1. Retail customer trading volume⁽¹⁾  of  $366 billion  in  April 2013, third highest in  FXCM  history and 15% higher than  March 2013  and 48% higher than  April 2012.
2. Average retail customer trading volume⁽¹⁾  per day of  $16.6 billion  in  April 2013, third highest in  FXCM  history and 9% higher than  March 2013  and 41% higher than  April 2012.
3. An average of 498,808 retail client trades per day in  April 2013, the highest in  FXCM  history and 18% higher than  March 2013  and 54% higher than  April 2012.
4. Tradeable accounts⁽²⁾  of 196,174 as of  April 30, 2013, an increase of 545, or 0.3%, from  March 2013, and a decrease of 6,365,or 3%, from  April 2012.

Institutional Trading Metrics

• Institutional customer trading volume⁽¹⁾  of  $183 billion  in  April 2013, the highest in  FXCM  history and 46% higher than  March 2013  and 78% higher than  April 2012.
• Average institutional trading volume⁽¹⁾  per day of  $8.3 billion  in  April 2013, the highest in  FXCM  history and 38% higher than  March 2013and 69% higher than  April 2012.
• An average of 22,851 institutional client trades per day in  April 2013, 27% higher than  March 2013  and 68% higher than  April 2012.

“April continued the strong trading environment of the  First Quarter,” continued Niv. “We are pleased to report record or near-records in most of our key operating metrics.”

⁽¹⁾  Volume that  FXCM  customers traded in period is translated into US dollars.

⁽²⁾  A Tradeable Account is an account with sufficient funds to place a trade in accordance with  FXCM  trading policies.