FXCM Group Releases Financial Data: Over $120 Million in Capital
FXCM Group has made an unprecedented public release of its balance sheet and invites other firms within the forex industry to follow its example.
Highlights of the (unaudited) balance sheet include the following:
$120,660,927 In Capital (Assets Minus Liabilities)
$98,657,018 In Operating Cash (Excludes Client Funds)
Drew Niv, CEO of the global trading firm, commented: “FXCM is proud of our financial discipline and strong balance sheet. We believe clients should have the necessary information to make intelligent choices. By releasing this information, we hope to set an example for the entire forex industry.”
The new tighter spreads began appearing on FXCM's Trading Station II on Sunday at 5 P.M. EST. Read more...
Forex Capital Markets LLC is the Largest Forex Dealer Member*
Forex Capital Markets LLC (FXCM) is regulated as a Forex Dealer Member by the National Futures Association. Forex Dealer Members are U.S. registered Futures Commission Merchants that have greater than 35% of revenue from foreign exchange.
As of September 2006, FXCM held in excess of $215 million in customer funds out of a total of over $770 million held by Forex Dealer Members.*
While there are approximately 31 active Forex Dealer Members with liabilities to customers of approximately $795 million, FXCM holds approximately 1 out of every 3 dollars of customer funds held by Forex Dealer Members.
*Source: http://www.nfa.futures.org/news/...
(FXCM is the FDM referenced in this NFA document as holding in excess of $215 million in customer funds.)
Approximately $500 Million In Customer Funds Traded
FXCM Group includes firms regulated across the world, including the United States, Canada, the United Kingdom, and Hong Kong.
Additionally, FXCM offers its proprietary foreign exchange trading technology to banks and brokers.
As of the first quarter of 2007, nearly $500 million in customer equity is trading on FXCM's FX Trading Platform.
Over 90,000 live accounts trade using FXCM's FX Trading Platform from nearly 200 countries, with an average of 2,900,000 orders placed each month via its trading platform. Its 6 offices around the world provide trading support in over 20 languages. Most languages are available 24 hours a day. Registered with the CFTC as a Futures Commission Merchant, FXCM has received numerous awards from the investment community, including Best Currency Broker from Shares, Best Retail Foreign Exchange Platform from FX Week and Best Foreign Exchange Specialist from Technical Analysis of Stocks & Commodities. In addition to currency trading, FXCM offers educational courses on forex trading, and provides research through DailyFX.com.
Leveraged foreign exchange trading carries a high level of risk, and may not be suitable for all investors. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose.
FXCM Group: Expanding and Improving
Since 2001, FXCM has added over 500 employees in all areas of operation, including customer support, research, technology, and trading. FXCM has been named to the Inc. 500 list of America's Fastest Growing Private Companies in 2004, 2005, and 2006.
In 2006, FXCM launched its "No Dealing Desk" service, which provides lower spreads.
FXCM will be launching many new initiatives in 2007, including the ability to hedge trades, proprietary trading signals for clients, and new currency pairs for trading.
Contact FXCM
Client Support Information
Product Inquiries and Service Numbers
FXCM representatives are available 24 hours a day, 7 days a week.
Toll-Free US Sales: +1 888 50 FOREX (36739)
Sales and Client Services: +1 212 201 7301
Technical Support: +1 212 201 7302
Live Operator: +1 212 897 7660
Fax (US): +1 877 229 0004
Fax (US and International): +1 212 897 7669
E-mail: info@fxcm.com
