FXCM UK Reports $4,868,683 in Total Income for 2020

Forex Capital Markets Limited (FXCM UK), a FCA-regulated UK arm of global Retail FX broker FXCM, recently released its financial numbers for 2020. The financial services platform reported strong growth in total income and trading volumes.

Wanna Know How to Reach Our Audience of Millions at Fazzaco?​

According to the annual numbers, FXCM UK posted a total comprehensive income of $4,868,683 for the year ended 31 December 2020, up 518.8 percent year-over-year as the company turned a loss of more than $1 million in 2019.

Additionally, the turnover of the company for the period came in at $15.46 million, which is 7.5 percent lower than the previous year. Administrative expenses fell by $8.2 million to $14.6 million in 2020 compared to 2019. Much of this was a reduction in inter-group expenses but there were also savings in professional, regulatory and prime brokerage fees.

Moreover, FXCM gained from the market volatility in 2020 that pushed the trading volumes much higher. It gained 11 percent year-over-year, averaging at $50 billion in volume per month.

“The company’s objectives for 2021 are to optimise revenues from current and new business, while strengthening the FXCM Group brand. To optimise revenues, the company aims to improve conversion rates of new account applicants and decrease the time it takes between applying for a new account and placing a first trade,”the broker noted.”The Company is re-evaluating how client trade flows are managed, relying less on a small number of metrics and more on technologies which provide a holistic view into client trading patterns.”