GAIN Gains in October but Still Loses Y-o-Y | Wibest Broker

GAIN Capital Holdings, Inc. held $171.9 billion retail transactions in October 2019 after last month’s low. The broker saw $151.5 billion in September, prompting the 13% increase.

October’s FX volumes, despite cutting off a prolonged downtrend, still lagged behind the broker’s year-to-year earnings. 

Meanwhile, average daily volumes were at $7.5 billion, up 4% over September 2019’s $7.2 billion figure. This figure went down from its $10.1 billion equivalent last year.

GAIN’s future trading dropped 594,021 contracts last month. The figure was a devastating 30% drop from $95.5 million reported in the third quarter last year.

The trading service reported lower revenues in October, weighing down their bottom line for Q3. Client engagement, however, showed positive figures on a year-to-year basis.

Net revenues were $66.7 million. 

GAIN also adjusted EBITDA last month at $6.0 million, five times lower than the second quarter’s $30.5 million. 

CEO Glenn Stevens said their retail increased for three quarters in a row. Stevens claims this was evidence that their marketing efforts help grow active accounts amid low volatility.

About GAIN

GAIN Capital Holding, Inc. is the largest international online trading service provider in the United States. The company claims to use innovating trading technology for automated trade across multiple asset classes. 

The company was founded in 1999 with a purpose to provide low-cost access to foreign exchange markets. Its futures group offers trading access to over 30 global exchanges.

They serve banks, brokers, hedge funds, and professional traders to trade on over 12,500 OTC and exchange-traded markets.

Headquartered in Bedminster, New Jersey, GAIN’s global businesses include CFD and FX brands with 800+ staff across the world. 

Services include liquidity assistance in over 12,500+ FX, CFD Indices, Shares, and Commodity markets. Additionally, the company assists clients in trading options with award-winning brands. 

GAIN’s other businesses include a fully independent FX ECN, GTX, for hedge funds and institutions. Their Galvan Trading business offers advisory for CFD.