However October saw a nice 5% pickup in volume metrics at FXCM to $491 billion.

Leading retail FX firm FXCM, (NYSE:FXCM),  the world’s largest online FX broker (and a member of LeapRate’s Approved List of global regulated forex brokerage firms), announced its October trading activity levels as well as Q3-2012 results today. As expected, with FXCM seeing lower volume levels during the months Jul-Aug-Sep, revenues at FXCM declined by 19% from Q2, coming in at $113 million for the quarter. Profitability was down as well, with EBITDA for the quarter coming in at $33 million, off 39% from Q2.

However the slowdown we’ve seen in the institutional FX business in October has not seemed to hit the retail forex industry, and FXCM is no exception. FXCM reported October retail FX volumes of $315 billion and institutional volumes of $176 billion, for a total of $491 billion — up 5% from September. FXCM’s all-important retail volumes were up 11%.

The one thing which stood out from FXCM’s Q3 release was a $15 million reserve established relating to ongoing discussions with the UK’s FCA regarding pre August 2010 trade execution practices. We’ll have more on that later.

We’ll have more analysis of FXCM’s Q3 report soon. In the interim, you can see the complete Q3 results press release here.

For more on the global Forex industry see the LeapRate-Dow Jones Forex Industry Report.