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Saxo Bank customers benefited the most from the FX/CFD market towards the end of 2023, according to the latest report from Intelligence of financial tycoons. Profitability level stood at 38%, up two percentage points over the past two months and standing 11.5% above the average of the top twenty brokers in terms of retail volumes .
THE Quarterly Industry Report by Finance Magnates Intelligence was used to analyze the 20 largest FX/CFD brokers by volume, looking at their monthly profitability and loss levels. Since the middle of last year, a steady increase in profitability has been observed. As a reminder, the average profitability in August 2023 was 25.6%, gradually increasing to 27.4% in October and reaching a level slightly above 27.5% in December 2023.
Changes have also taken place in the first rankings. Saxo Bank (profitability 38%) once again overtakes TeleTrade (36.6%) to take first place, while Hantec Markets (34%) moves up to third place, dethroning CFI (30%), now fourth.
Fifth place is held by CMC Markets (29%). For 50% of the companies considered, values remained unchanged, 25% saw increases, the largest being recorded by Hantec Markets and Libertex, both exceeding 5% over two months. Profitability levels also declined for 25% of FX/CFD brokers, with CFI leading the 4% decline.
Fall in profitability in four companies
Compared to previous months, the number of companies achieving low levels of profitability, defined as below 25%, is decreasing. In the latest report, there are four such companies, up from five reported in October. They include Axi (24.5%), XTB (22.0%), GBE Brokers (21.3%) and Plus500 (18%). Notably, the profitability level of Plus500 customers generally falls below 20%.
Intelligence of financial tycoons
also published a report last month on average deposits in October in the FX/CFD market. That month saw another period of growth in average values, with data of Model C showing that the average deposit increased from $13,504 to $15,248.
Saxo Bank customers benefited the most from the FX/CFD market towards the end of 2023, according to the latest report from Intelligence of financial tycoons. Profitability level stood at 38%, up two percentage points over the past two months and standing 11.5% above the average of the top twenty brokers in terms of retail volumes .
THE Quarterly Industry Report by Finance Magnates Intelligence was used to analyze the 20 largest FX/CFD brokers by volume, looking at their monthly profitability and loss levels. Since the middle of last year, a steady increase in profitability has been observed. As a reminder, the average profitability in August 2023 was 25.6%, gradually increasing to 27.4% in October and reaching a level slightly above 27.5% in December 2023.
Changes have also taken place in the first rankings. Saxo Bank (profitability 38%) once again overtakes TeleTrade (36.6%) to take first place, while Hantec Markets (34%) moves up to third place, dethroning CFI (30%), now fourth.
Fifth place is held by CMC Markets (29%). For 50% of the companies considered, values remained unchanged, 25% saw increases, the largest being recorded by Hantec Markets and Libertex, both exceeding 5% over two months. Profitability levels also declined for 25% of FX/CFD brokers, with CFI leading the 4% decline.
Fall in profitability in four companies
Compared to previous months, the number of companies achieving low levels of profitability, defined as below 25%, is decreasing. In the latest report, there are four such companies, up from five reported in October. They include Axi (24.5%), XTB (22.0%), GBE Brokers (21.3%) and Plus500 (18%). Notably, the profitability level of Plus500 customers generally falls below 20%.
Intelligence of financial tycoons
also published a report last month on average deposits in October in the FX/CFD market. That month saw another period of growth in average values, with data of Model C showing that the average deposit increased from $13,504 to $15,248.
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