That Currency Broker That’s Plastered All Over CNBC Only Added 370 Organic Accounts In April

Since stocks are boring, and even options are too plain vanilla these days, so CNBC recently started a show “Money in Motion Currency Trading” that airs on Fridays.

Its big partner in the venture is retail forex firm FXCM, which came out with earnings.

Get this: In what’s supposed to be a high-flying, exciting area, they literally added just 370 organic accounts, in April per a note from UBS.

Now, granted, they face tons of attrition from existing accounts, because people are getting their clock cleaned all the time, but it speaks to the tremendous need to advertise all the time and sponsor shows, just to keep accounts relatively flat.

This chart from Citi shows the year-over-year growth collapse, and the flat user metrics. As it notes, they did make an acquisition, so technically they added more than 370, but what matters is organic growth.


[credit provider=”Citi”]