BGC Partners reports a drop in FX revenue in 2022, expects growth in 2023

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Following the start of 2023, a number of financial firms offering trading services involving different assets have reported difficulties and drops in revenue, particularly when it comes to forex trading. As of this Monday, February 27th, BGC Partners — a broker and financial technology company — joined them by reporting a similar situation in Q4 2022.

BGC releases Q4 and full-year results for 2022

Yesterday, the company released its Q4 and full-year results for the past year, underlining marginal decreases when it comes to consolidated revenue from forex trading. According to the company’s report, the numbers went down by 0.3% on a quarterly basis, with the last quarter of 2022 recording $71.9 million. The figures are also down by 0.5% on a YoY basis, sinking to $299.7 million.

The revenue drop was also noticeable when it comes to other asset classes, and in some cases, it was even more significant. Rates dropped by 6.2%, sinking to $123.6 million, while the fiscal year of 2022 was concluded with a 1.6% drop, and a total of $549.5 million, according to the report. Revenue from this asset class also sank by 5.6%, with a total of $271.4 million by the end of the year.

However, BGC Partners noticed an increase in revenue when it comes to energy and commodities, which took it up by 2.9% in Q4, with a total of $73.6 million. However, on a yearly basis, the company reported a 1.6% drop to $291.7 million. Equities recorded declines in both metrics, with a revenue drop of 1.6% to $60.7 million in the last quarter, while the YoY figures show a drop of 5.3% to $234.5 million.

Finally, the firm addressed the total brokerage revenue involving these asset groups, but excluding insurance. Overall, the firm saw a decline of 1.3% to $397.8 million, compared to $403 million recorded in Q3 2022. As for the YoY, the total revenue decreased by twice as much — 2.6%, resulting with a total of $1.65 billion for last year.

BGC expects a positive turn in 2023

Looking forward, BGC Partners noted that the new year is expected to bring significant improvement in revenue performance. The company noted that its brokerage revenue saw a 6% growth in December 2022, and it managed to keep this momentum as it entered 2023. In fact, the revenue in January was up by 8%.

The firm explained that manufactured zero and zear-zero interest rates in the last fourteen years have led to a breakdown, and even disappearance of the historic correlation between trading volume growth nd issuance. Meaningful interest rates and insurance are now significantly above 2008 levels, which is likely to return the trading volumes to a higher point.



Ali is a professional journalist with experience in Web3 journalism and marketing. Ali holds a Master's degree in Finance and enjoys writing about cryptocurrencies and fintech. Ali’s work has been published on a number of leading cryptocurrency publications including, CryptoSlate,,, Business2Community, BeinCrypto, and more.