The last
month of the third quarter proved to be the worst for six registered retail
forex (FX) brokers operating in the United States. According to the latest data
from the Commodity Futures Trading Commission (CFTC) published this week, the
value of client deposits fell to $516.3 million, the lowest in Q2 2023.
According
to CFTC regulations, every retail foreign exchange
Exchange
An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv
An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv
Read this Term 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 held by an FCM or RFED,
which is the sum of all money, securities, and property deposited by a retail
forex customer into one or more retail FX accounts, after adjustments for
realized and unrealized net profit or loss.
Out of 62
registered FCMs and RFEDs, six firms disclose data on obligations. The largest
position is held by Gain Capital, with deposits valued at over $195 million. In
second place is Oanda, with $161 million; in third place is Charles Schwab,
with just under $63 million. Following in order are IG US ($60 million),
Interactive Brokers ($36 million), and Trading.com ($1 million).
Source: CFTC
The market
share remains relatively unchanged compared to previous months, but the total
amount of retail forex obligations has decreased to the lowest quarter levels.
In July, it was $518.5 million, and in August $525 million.
Despite a
month-over-month decline of over 1.5% to $516 million, compared to September of
the previous year, the indicator recorded a growth of 5.5%, rebounding from
$489.6 million.
How Have Individual
Brokers’ Results Changed?
Three firms
recorded declines in FX deposits, although, for Gain Capital, they were minimal.
Trading.com lost 4.5%, while the results of IG US fell the most, with a loss
exceeding 22%, or nearly $7 million.
On the
gaining side, Charles Schwab and Oanda reported marginal gains below 1%, while
Interactive Brokers increased their retail forex
Forex
Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi
Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi
Read this Term funds by nearly 6.5%, or about
$2 million.
Source: CFTC
Finance
Magnates
independently researches retail investor trends. Employing CPattern’s insights,
we showcase our metrics by tracking historical shifts in average deposits,
average withdrawals, and initial deposits. The most recent study highlighted a
peak in deposit activity not seen in the preceding months.
The last
month of the third quarter proved to be the worst for six registered retail
forex (FX) brokers operating in the United States. According to the latest data
from the Commodity Futures Trading Commission (CFTC) published this week, the
value of client deposits fell to $516.3 million, the lowest in Q2 2023.
According
to CFTC regulations, every retail foreign exchange
Exchange
An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv
An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv
Read this Term 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 held by an FCM or RFED,
which is the sum of all money, securities, and property deposited by a retail
forex customer into one or more retail FX accounts, after adjustments for
realized and unrealized net profit or loss.
Out of 62
registered FCMs and RFEDs, six firms disclose data on obligations. The largest
position is held by Gain Capital, with deposits valued at over $195 million. In
second place is Oanda, with $161 million; in third place is Charles Schwab,
with just under $63 million. Following in order are IG US ($60 million),
Interactive Brokers ($36 million), and Trading.com ($1 million).
Source: CFTC
The market
share remains relatively unchanged compared to previous months, but the total
amount of retail forex obligations has decreased to the lowest quarter levels.
In July, it was $518.5 million, and in August $525 million.
Despite a
month-over-month decline of over 1.5% to $516 million, compared to September of
the previous year, the indicator recorded a growth of 5.5%, rebounding from
$489.6 million.
How Have Individual
Brokers’ Results Changed?
Three firms
recorded declines in FX deposits, although, for Gain Capital, they were minimal.
Trading.com lost 4.5%, while the results of IG US fell the most, with a loss
exceeding 22%, or nearly $7 million.
On the
gaining side, Charles Schwab and Oanda reported marginal gains below 1%, while
Interactive Brokers increased their retail forex
Forex
Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi
Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi
Read this Term funds by nearly 6.5%, or about
$2 million.
Source: CFTC
Finance
Magnates
independently researches retail investor trends. Employing CPattern’s insights,
we showcase our metrics by tracking historical shifts in average deposits,
average withdrawals, and initial deposits. The most recent study highlighted a
peak in deposit activity not seen in the preceding months.