According to our colleagues at Finance Magnates FX and CFD brokers around the world continue to post solid financial results for the first half of 2020, largely impacted by elevated trading activity, interest in trading from the public and market volatility. To this end Japanese service provider Monex Group, which operates a number of brokerages and Polish broker XTB have reported solid revenue and income for the first half of the year.
Monex Group, Inc. published its financial results on both a Group level and also for its subsidiary Monex, Inc. Monex Group’s fiscal 2021 year stretches for the 12 month period ended on the 31st of March 2021. Therefore, the first quarter of this fiscal year ranges from the 1st of April 2020 until the 30th of June 2020. Monex, Inc. the Japanese brokerage of the Group, the subsidiary achieved net operating revenue of ¥6.773 billion during Q1 of fiscal 2021. This is higher by 18.8 percent on a yearly comparison.
Operating income for the first quarter was considerably stronger in fiscal 2021, with the broker achieving a result of ¥868 million. Weighing this against the same period of the prior year, operating income has risen by 66.7 per cent.
Polish XTB experienced about a 6X surge in its total operating revenue which jumped to $137.0 million (PLN 518 million) from the PLN 88 million the company posted a year earlier. Specifically, the publicly-listed broker said the retail business segment generated PLN 428 million or 82% of the group’s total volumes, while institutional traders commanded approximately 18% after yielding PLN 89 million in revenues.
XTB said its operating revenues were primarily influenced by the commodities CFDs segment as the asset class generated 40% of the company’s total revenue compared to only 7% a year earlier. Meanwhile, revenues from FX CFDs amounted to 8.6% of total revenues relative to 6.2% in 2019; and stock CFDs 49% and 84% respectively.
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