The third quarter of 2011 may be a distant memory for some, but many companies are only now publishing the progress they made during those months. One such company is FXCM (NYSE: FXCM), a top Forex broker that operates both in the US and worldwide. The numbers released by the company last week were encouraging on several levels. The company's reported revenues increased 16% in the first 9 months of 2011 as compared with the first 9 months of 2010. All told, the company's revenue from January 1 through September 30, 2011 was $307.1 million, up from $264.2 million in 2010. In the third quarter of 2011 specifically, FXCM's revenue was $109.1 million, a significant improvement over the company's second quarter revenue, which was recorded at $103.4 million.
FXCM's CEO Drew Niv announced that he was particularly pleased with the growth of the company's US branch, which reported a 38% sequential growth in volume as compared with the second quarter of 2011.
On the whole, FXCM is a company that is not just increasing its revenue, but is actively expanding its global reach. Just last month, the company announced its purchase of Foreland Forex, a Japanese-based Forex company, whose purchased followed the acquisition of GCI only a few months before. Although the company's October trade volume for retail traders was 8% lower than its September 2011 trade volume, though this performance was still 24% higher than the company's retail trade volume of October 2010.
FXCM is a no-dealing desk brokerage that offers extensive resources for both new and experienced traders, from video trading tutorials to free trading signals. Read a full FXCM review to learn more about the company's services and trading conditions.