GAIN Capital Holdings, Inc. (NYSE: GCAP) has just reported its aggregated trading volumes for April 2020. The group’s most recent retail volumes took a step back during the month, compared to ending March on a more positive note when FX trading on their platform has soared more than 50 percent during the Coronavirus concern-driven market swings.
In particular, GAIN Capital’s retail clients transacted a total of $188 billion in April 2020, retreating 51 percent month-over-month from $388 billion in March 2020. Over a yearly timetable, GAIN’s latest retail OTC volume was higher by over 29 percent from $146 billion in April 2019.
The group’s average daily volumes (ADVs) had been halved last month to $8.6 billion from $17.7 billion per day in March 2020. This figure was also higher by 28 percent on a yearly basis.
Meanwhile, three-month trailing active accounts in the OTC retail segment totaled 93,773 by the end of March, which was relatively flat on a monthly basis from 87,349 accounts in March 2020.
Solid financial results on Corona boost
Finally, futures trading dropped further in April to 567,189 contracts, corresponding to a loss of 20 percent from March.
Earlier in April, GAIN reported its net revenues for Q1 2020 at $185.7 million, which was four times higher than the $38.4 million reported back in the Jan-March quarter of 2019. Over a quarterly basis, the company revenue rose 250 percent from $53.3 million in the fourth quarter of 2019.
Before the first quarter, FX retail platforms and elsewhere had suffered a prolonged period of low Volatility and lackluster volumes, crimping profitability. In particular, GAIN’s net revenues for Q4 2019 came in at $53.3 million. Furthermore, the year ending December 31, 2019, netted a revenue drop of 35 percent year-over-year, having plunged to $234 million from $358.0 million reported back in fiscal 2018.
