Monex Group operating revenue in Nov 2016’s hits second highest
Monex Group, a Japanese forex brokerage, reported on Wednesday an operating revenue exceeding JPY 3.7 billion. The broker posted a monthly increase of more than 20%, but however, represents a decline of 5% from a year earlier. The figure is the second highest this year after June when the broker reported a value of JPY 3.8 billion.
Meanwhile, the broker’s financial expenses slightly fell by 5% on the month to JPY 313 million. In comparison, the broker posted a drop in expenses of 26.5% from a year earlier.
Earlier in December, Monex Group reported its daily average revenue trades (DARTs) hit 307,856, the highest in the past nine months.
In comparison, GMO Click, another leading Japanese forex broker, reported an operating revenue of nearly JPY 2.9 billion for last month, while Invast Securities’ operating revenue hit JPY 331 million, the highest in the past five months.
Monex Group operates under three retail trading brands – Monex, TradeStation, and Boom. The majority, or about 60%, of its revenue, comes from operations in Japan and the remaining 40% from operations in the US.
It consists of Japan-based holding company Monex Group Inc. and its Japanese subsidiaries Monex Inc., Monex Ventures, Trade Science Corp., Monex Hambrecht, and Monex-Saison-Vnaguard Investment Partners, which is a joint venture in which the group holds a majority stake. In addition, the group owns TradeStation Group, which is in charge of the operations in North America and Europe, and Monex International, aka Monex Boom Group, which is in charge of the Asian business.