FXCM January Metrics And PR: Long On Porcine Lipstick, Short On Self-Awareness

Summary

• Preface.
• FXCM attempted to spin its January metrics update as a big positive when the numbers, in context, tell a very different story.
• Impression from recent FXCM PR is that company sees itself as returning to "business as usual" without adequately adapting to the aftermath of the SNB shock.
• Reality is that SNB shock was NOT merely a single isolated event; it will produce substantial headwinds in the near term and may fundamentally change the retail Forex industry.

Preface

FXCM's January metrics update, and associated press release, is yet another episode of the company's spin game. To be fair, most companies (public and private) make an effort to put their best foot forward under the belief that the appearance of success tends to beget actual success. However, yet again, FXCM PR demonstrates an incredibly low opinion of the intellect of its stakeholders, and reflects an assumption that news outlets, investors, prospects, and customers would not bother to peek beneath the shiny veneer.

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