Global Brokerage Releases Financial Results For Q2 2022

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Global Brokerage Inc, the company behind forex trading and CFDs broker FXCM, has released its trading results for the second quarter of 2022. According to the report, the firm realized recorded $37.83 billion as net income for the period. This represents a 21.6% increase from the $31.1 million generated as net income the previous quarter.

The Broker Registered A Massive Drop In Its Net Loss

Unlike its net revenue, the company’s net loss during the quarter fell from $12 million to $5.12 million, representing a 57% difference.

Global Brokerage also reported a net loss of $16.98 million in the first half of 2022. This represents a massive decline of 50.4% from the $34.24 million registered in the first half of last year.

Additionally, the company recorded an operating loss of $1.8 million in the first quarter of 2022. This also represents a notable improvement after the firm posted an operating income of $5.7 million in the second quarter.

A Slight Increase In Total Assets

Global Brokerage stated that it recorded a slight increase in its total assets in the second quarter of the year. It posted a 0.5% surge in this segment during the period. The firm’s total assets increased from $397.9 million at the end of March last year to $399.71 million this year.

Also, total liabilities increased from $594 million in the first quarter of the year to $602.1 million in the second quarter of the year. This represents a 1.2% increase from the previous quarter.

Global Brokerage offers online forex and contracts for different trading services to retail customers. The company also offers spread betting as well as other related services. Global Brokerage gives its clients and customers access to different trading tools to enable them to trade in the market with ease.

Meanwhile, FXCM has been breaking ground, offering more FX and CFD services across different jurisdictions. The firm offers a wide range of trading platforms, including MetaTrader4, ZuluTrade, NinjaTrader, and mobile trading platforms for Android and iOS users. Its wide range of product offerings includes commodities, indices, shares, forex, and cryptocurrencies.

About Ali Raza PRO INVESTOR

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 Capital.com, CryptoSlate, Securities.io, Invezz.com, Business2Community, BeinCrypto, and more.