Swissquote Reports Weaker First Half 2014 Results, FXCM to release Q2 2014 Results

Swiss bank and forex brokerage Swissquote released its First Half of 2014 results, which indicates that revenues grew and profits declined slightly as it proceeds with its assimilation of MIG Bank.

Swissquote reported that its forex trading volumes stood at $73 billion on a monthly basis on average in the January to June period, a decline of around 14 percent compared with the $85 billion in the Q4 2013 immediately after its MIG Bank acquisition. However, the drop in FX volume is in line with most other retail FX brokers as low volatility in FX markets affected profitability.

Meanwhile, leading forex broker FXCM Inc will release its Q2 2014 financial results once the U.S. financial markets are closed on August 7, 2014. The firm will conduct a conference call at 4:45 p.m. (EDT) to review the results. Domestic participants will access the call by dialing 877.445.4603, while international participants will dial 443.295.9270, with the conference ID number being 78733735, said the company in a press release published on Wall Street Journal.

The copy of the FXCM’s profit release, live audio webcast and the presentation slides that will be used in this conference can be accessed at http://ir.fxcm.com/. FXCM will also publish its monthly operating metrics for July 2014 the same day.

Interested parties in U.S. can access an audio replay of the conference call immediately after the call by dialing 855.859.2056, while those abroad can dial 404.537.3406 and enter the passcode 78733735.

Recently, FXCM reported retail customer trading volumes in June 2014 of $254 billion, a 36 percent drop from June 2013 and 3 percent lower than those reported in May 2014.