August
proved to be a favorable month for six registered retail forex (FX) brokers
operating in the United States. According to the latest data from the Commodity
Futures Trading Commission (CFTC), the value of their clients’ deposits
increased by 1.2% month-over-month, from $518.5 million to $525 million.
According
to CFTC regulations, every retail foreign exchange dealer (RFED) and futures
commission merchant (FCM) must report monthly financial positions to the
commission, including adjusted net capital, customers’ assets, and the total
amount of retail forex obligations.
Retail
forex obligations represent the total amount of funds at an FCM or RFED obtained
by combining all money, securities, and property deposited by a retail forex
customer into a retail forex account or accounts, adjusted for the realized and
unrealized net profit or loss.
Out of 62
registered FCMs and RFEDs, six firms publish data on obligations . These include
Charles Schwab, Gain Capital, IG US, Interactive Brokers, OANDA Corporation,
and Trading.com. Among them, Gain Capital currently handles the largest
deposits, valued at nearly $194 million. Next is OANDA with $156 million,
followed by IG US ($63 million), Charles Schwab ($73 million), Interactive
Brokers ($33 million), and Trading.com ($1 million).
Compared to
August, the market share of individual brokers remained largely unchanged. Gain
Capital continues to dominate, accounting for nearly 40% of the market share,
followed by OANDA with a 30% share. Interestingly, IG US and Charles Schwab
switched places again. IG US overtook the largest asset manager, and its market
share increased to nearly 15%, while Charles Schwab dropped to 12%.
Increased Activity in the
FX/CFD Industry
Finance
Magnates also
conducts separate research on retail investor activity. Using data provided by
CPattern, we present our own indicators of historical changes in average
deposits, average withdrawals, and average first-time deposits (FTD). According
to the latest report published last month and covering May 2023, it recorded
the highest number of deposits in over a year.
While both
of our leading indicators were slightly lower, they managed to remain at the
highest levels over the past five months for deposits and even the past twelve
months for withdrawals. The average single withdrawal is still higher than the
deposit, amounting to $3,159.42 in May. The average deposit dropped during this
period to $2,214.65.
August
proved to be a favorable month for six registered retail forex (FX) brokers
operating in the United States. According to the latest data from the Commodity
Futures Trading Commission (CFTC), the value of their clients’ deposits
increased by 1.2% month-over-month, from $518.5 million to $525 million.
According
to CFTC regulations, every retail foreign exchange dealer (RFED) and futures
commission merchant (FCM) must report monthly financial positions to the
commission, including adjusted net capital, customers’ assets, and the total
amount of retail forex obligations.
Retail
forex obligations represent the total amount of funds at an FCM or RFED obtained
by combining all money, securities, and property deposited by a retail forex
customer into a retail forex account or accounts, adjusted for the realized and
unrealized net profit or loss.
Out of 62
registered FCMs and RFEDs, six firms publish data on obligations . These include
Charles Schwab, Gain Capital, IG US, Interactive Brokers, OANDA Corporation,
and Trading.com. Among them, Gain Capital currently handles the largest
deposits, valued at nearly $194 million. Next is OANDA with $156 million,
followed by IG US ($63 million), Charles Schwab ($73 million), Interactive
Brokers ($33 million), and Trading.com ($1 million).
Compared to
August, the market share of individual brokers remained largely unchanged. Gain
Capital continues to dominate, accounting for nearly 40% of the market share,
followed by OANDA with a 30% share. Interestingly, IG US and Charles Schwab
switched places again. IG US overtook the largest asset manager, and its market
share increased to nearly 15%, while Charles Schwab dropped to 12%.
Increased Activity in the
FX/CFD Industry
Finance
Magnates also
conducts separate research on retail investor activity. Using data provided by
CPattern, we present our own indicators of historical changes in average
deposits, average withdrawals, and average first-time deposits (FTD). According
to the latest report published last month and covering May 2023, it recorded
the highest number of deposits in over a year.
While both
of our leading indicators were slightly lower, they managed to remain at the
highest levels over the past five months for deposits and even the past twelve
months for withdrawals. The average single withdrawal is still higher than the
deposit, amounting to $3,159.42 in May. The average deposit dropped during this
period to $2,214.65.
