StoneX Reports Strong Growth in FX/CFD Trading for Q4 FY24

​StoneX Group Inc. has reported significant growth in its FX/CFD trading business for the fourth quarter of fiscal year 2024, with revenues reaching $84.7 million - a 7% increase from the $79.2 million recorded during the same period last year. For the entire fiscal year ending September 30, 2024, FX/CFD revenues surged by 21%, reaching $316 million compared to $262 million in the prior year.

The company attributed much of this growth to its self-directed retail segment, which experienced steady daily trading volumes of $11 billion and an 8% rise in revenue per million traded to $122. CEO Sean O'Connor highlighted the company's robust performance across various segments, stating, "Our expanding global footprint and diversified product offering continues to deliver superior service to our clients."

Despite a challenging environment with relatively low market volatility, StoneX posted a 51% increase in quarterly net income, reaching $76.7 million, alongside a 48% rise in earnings per share to $2.32. On an annual basis, net income grew by 9% to nearly $261 million, while operating revenues increased to $3.44 billion.

Although institutional FX revenues faced some pressure with an $11 million decline in daily trading volumes, this was offset by the retail FX/CFD segment, which saw a $7 million revenue boost.

Further cementing its global presence, StoneX expanded operations in India in October 2024 by joining the India International Bullion Exchange (IIBX) and opening offices in Pune and Bengaluru. Since entering the Indian market in 2019, the company has grown its workforce in the country to over 550 employees.