Global Brokerage Inc., which owns FXCM, an online forex trading and contract for difference (CFD) broker, saw a 21.6% growth in its net revenue during the second quarter of 2022.
Net revenue in the quarter was $37.83 million, significantly increasing from $31.1 million during the first quarter. Global Brokerage announced this on Friday in its unaudited financial results for the Q2 of 2022.
Despite this, the firm’s net loss dropped by 57% to $5.12 million in the quarter versus $12 million in the previous quarter.
In the first six months of 2022, the Brokerage lost $16.98 million, which is much worse (a 50.4% drop) than last year’s $34.24 million record.
Furthermore, even though the company gained $5.7 million in operating income during the second quarter, it lost $1.8 million operationally in the first quarter of 2022.
First Half of Year and Other Performances
Global Brokerage recorded a modest increase in total assets during the second quarter of 2022. This category had a 0.5% growth rate, according to the company.
As of the end of March, the company’s total assets were $399.71 million, a slight uptick from last year’s $397.9 million.
In addition, Global Brokerage saw a 1.2% rise in its total liabilities by the end of the second quarter in 2022 to reach $602.1 million. This is compared to where it stood at the beginning of this year in March when total liabilities were only $594 million.
Global Brokerage enables retail customers to trade online forex and CFDs and provides spread betting and other similar services.
This company provides its customers with access to trading tools from all around the world.