forex What Do the Financial Statements Say about Forex Brokers

[Anzo Lim 0]

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Near the end of the year, many renowned brokers on the forex market are starting to release their financial statements. According to the latest 6-month data recently released by the Bank for International Settlements, the nominal value of forex derivatives totaled US$99 trillion by the end of June, 2019. Overall, nominal value of OTC derivatives reached US$ 640 trillion, up 17.6% from the US$ 544 trillion at the end of 2018. but amid the generally growing trend of the forex market, not every broker’s financial statement reveals good news.

 

The renowned forex broker FOREX.com recently released its financial statement for October. After falling to a lowest point in several months, the broker’s forex trading volume rebounded slightly in October. Statistics showed that the company’s forex trading volume reached US$171.9 billion in October, up 13% from US$151.5 billion in September and down 25% from US$231 billion in October 2018; figures in other categories, although slightly better than September’s, have all declined year-on-year in various degrees. As the trading volume is unlikely to experience significant volatility near the end of the year, it seems this largest forex broker in the US have failed to carry on its success in 2018.

 

Polish forex broker XTB also released its Q3 financial data, which suggests a robust performance of the broker. Though the product intervention measures from European Securities and Markets Authority(ESMA) earlier on had hit XTB significantly, latest figures indicate the broker has been recovering. 10,042 new clients were added to XTB in Q3, 2019, up 105.6% year-on-year; trading revenue of CFD totaled 59.93 million Polish złoty, up 26.76% compared with 2018, while other sectors all witnessed different degrees of growth.

 

Like the financial statements of listed companies, brokers’ financial statements also tell much about their operation abilities and business strength, providing a good reference for investors. Getting timely market updates is crucial for investors, and WikiFX will continue to update more forex dynamics for investors, so you can conveniently access all information you need to know from your fingertip.

Edited November 25, 2019 by Anzo Lim

[Bernis 0]

Financial reports from Forex brokers can provide valuable insight into the state of a company. They can show the amount of capital a broker has, the amount of leverage they offer, and the amount of risk they take. They can also show a broker's profitability, which can be a good indicator of its reliability https://brokstock.co.za/ . By studying the financial reports, investors can make an informed decision about which broker to use.

[AnnaLibert 0]

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[kiraaa23 0]

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