For the first quarter of 2019, GAIN Capital reported a net loss of $28.4 million. This is in comparison to the $11.9 million profit the company made during the same time period of the previous year. It also translates to a loss of $0.76 per share.
Net revenues for the period came in at $38.4 million. When measuring this against the first quarter of 2018, which achieved a net revenue of $98.4 million, this is lower by 61 percent.
OTC Volumes Fall in Q1 for GAIN Capital
Taking a look at GAIN’s retail segment, the total over-the-counter (OTC) trading volume for the quarter was $487.3 million. This figure is much lower than the $795.4 million trading volume the broker achieved in the first quarter of 2018 by 38.7 percent.
As the OTC trading volume fell year-on-year, so did the OTC average daily volume (ADV). Specifically, the OTC ADV reported in Q1 of 2019 was $7.7 million, which is 37.9 percent less than the same period last year, which had an ADV of $12.4 million.
Commenting on the weak results, Glenn Stevens, Chief Executive Officer of GAIN Capital said: "Despite unfavorable market conditions impacting our volume and RPM for the quarter, including the CVIX reaching a five year low with Eurodollar trading in its narrowest quarterly range on record, growth initiatives are beginning to bear fruit. Our increased Marketing investment delivered robust growth in new direct accounts, which were up 38%, even amid the challenging macro environment.
"We remain focused on our long-term goals and plan to invest in new client Acquisition and retention, leveraging our powerful brand assets, innovating the trading experience and increasing our focus on our top clients. We are confident that we are well positioned to benefit upon the return of more normal market conditions."
For the first quarter of 2019, GAIN Capital reported a net loss of $28.4 million. This is in comparison to the $11.9 million profit the company made during the same time period of the previous year. It also translates to a loss of $0.76 per share.
Net revenues for the period came in at $38.4 million. When measuring this against the first quarter of 2018, which achieved a net revenue of $98.4 million, this is lower by 61 percent.
OTC Volumes Fall in Q1 for GAIN Capital
Taking a look at GAIN’s retail segment, the total over-the-counter (OTC) trading volume for the quarter was $487.3 million. This figure is much lower than the $795.4 million trading volume the broker achieved in the first quarter of 2018 by 38.7 percent.
As the OTC trading volume fell year-on-year, so did the OTC average daily volume (ADV). Specifically, the OTC ADV reported in Q1 of 2019 was $7.7 million, which is 37.9 percent less than the same period last year, which had an ADV of $12.4 million.
Commenting on the weak results, Glenn Stevens, Chief Executive Officer of GAIN Capital said: "Despite unfavorable market conditions impacting our volume and RPM for the quarter, including the CVIX reaching a five year low with Eurodollar trading in its narrowest quarterly range on record, growth initiatives are beginning to bear fruit. Our increased Marketing investment delivered robust growth in new direct accounts, which were up 38%, even amid the challenging macro environment.
"We remain focused on our long-term goals and plan to invest in new client Acquisition and retention, leveraging our powerful brand assets, innovating the trading experience and increasing our focus on our top clients. We are confident that we are well positioned to benefit upon the return of more normal market conditions."
FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.
FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.
FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.
FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.
Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24
Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24
Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24
Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24
Finance Magnates Annual Awards 2024 | FM Awards 2024 Highlights
Finance Magnates Annual Awards 2024 | FM Awards 2024 Highlights
🎥Catch the best moments from the Finance Magnates Annual Awards Gala Dinner!
An evening where top names in finance came together to celebrate achievements, enjoy live music, and connect over a memorable dinner. Watch the highlights and feel the energy of our first gala in Cyprus!
Congratulations to all the winners for their dedication to excellence and leadership in the financial industry, including XM, Trading PRO, FP Markets, Deriv, FxPro, LATAM, Headway, ATFX, FBS, AMEGA, EC Markets, Axi
For more information about the 1st Finance Magnates Annual Awards, visit https://bit.ly/3Zb7wNz
#FinanceMagnatesGala #IndustryExcellence #GalaHighlights #FinanceMagnatesAnnualAwards #FinanceMagnatesAwards #CelebratingSuccess #FinanceCommunity
🎥Catch the best moments from the Finance Magnates Annual Awards Gala Dinner!
An evening where top names in finance came together to celebrate achievements, enjoy live music, and connect over a memorable dinner. Watch the highlights and feel the energy of our first gala in Cyprus!
Congratulations to all the winners for their dedication to excellence and leadership in the financial industry, including XM, Trading PRO, FP Markets, Deriv, FxPro, LATAM, Headway, ATFX, FBS, AMEGA, EC Markets, Axi
For more information about the 1st Finance Magnates Annual Awards, visit https://bit.ly/3Zb7wNz
#FinanceMagnatesGala #IndustryExcellence #GalaHighlights #FinanceMagnatesAnnualAwards #FinanceMagnatesAwards #CelebratingSuccess #FinanceCommunity
FMLS:24 | Shaping the Next Era of Financial Evolution
FMLS:24 | Shaping the Next Era of Financial Evolution
Welcome to FMLS:24 – the premier event where influential brands and leaders in trading, payments, fintech, and digital assets come together!
Join over 2,500 industry professionals, engage with 150+ expert speakers, and discover endless opportunities with 70+ top exhibitors. FMLS:24 is where senior executives and decision-makers gather to close deals, forge new partnerships, and strengthen connections with long-term clients.
Whether you’re in finance, technology, or payments, this summit is your gateway to future growth, meaningful collaborations, and industry-leading insights.
👉 Don't miss out – secure your ticket now at https://events.financemagnates.com/ZQEYy0?utm_source=youtube&utm_campaign=fmls24-awareness&utm_medium=video&RefId=MLS%3A24+Video+Promo
#fmls #fmls24 #fmevents #financemagnates #forex #payments #crypto #events #london #fintech #ai #generativeai #technology #onlinetrading #forex #investing #investors #tech
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Welcome to FMLS:24 – the premier event where influential brands and leaders in trading, payments, fintech, and digital assets come together!
Join over 2,500 industry professionals, engage with 150+ expert speakers, and discover endless opportunities with 70+ top exhibitors. FMLS:24 is where senior executives and decision-makers gather to close deals, forge new partnerships, and strengthen connections with long-term clients.
Whether you’re in finance, technology, or payments, this summit is your gateway to future growth, meaningful collaborations, and industry-leading insights.
👉 Don't miss out – secure your ticket now at https://events.financemagnates.com/ZQEYy0?utm_source=youtube&utm_campaign=fmls24-awareness&utm_medium=video&RefId=MLS%3A24+Video+Promo
#fmls #fmls24 #fmevents #financemagnates #forex #payments #crypto #events #london #fintech #ai #generativeai #technology #onlinetrading #forex #investing #investors #tech
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
📸 Instagram: https://www.instagram.com/fmevents_official
🐦 Twitter: https://twitter.com/F_M_events
🎥 TikTok: https://www.tiktok.com/@fmevents_official
▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official
Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!