Is Oanda the largest Forex broker in the world? It certainly has much more money than FXCM
Forex Brokers need to register as FCMs with the NFA and they also have to file monthly statements detailing certain
Forex Brokers need to register as FCMs with the NFA and they also have to file monthly statements detailing certain business aspects. There’s nothing more that brokers hate than disclosing financial information – but for us it’s a chance to see who has how much…
In a recent report we can see that Oanda has $50M more than FXCM in Net Capital. While FXCM is always proud of being very rich, it appears that there’s someone much richer. Actually even Gain and GFT are not that far behind.
Why am I surprised? Frankly, although I know Oanda is a large broker, it’s also a very ‘below the radar’ broker – most of the marketing and news you hear about comes from FXCM and to a lesser degree from Gain and GFT. Looks like Oanda is doing a lot of work but in a much quieter and effective way.
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The top 4 largest US Forex brokers by Net Capital are:
Oanda – $161m
FXCM – $113m
Gain – $95m
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GFT – $87m
Is Oanda the largest retail Forex broker in the world?
Unlike FXCM Oanda didn’t publish its monthly volume for quite a while. Back in 2007 it reported 400,000 trades a day and $200B in monthly volume, while FXCM reported only 200,000 trades a day not long ago and had same $200B in volume in 2007 with $500B by the end of 2008.
Oanda is also very active in different offerings than other brokers, and might be right in doing so given recent NFA requirements, such as exchange and funds transferring.
Given the rapid growth of Forex trading volumes Oanda might have surpassed FXCM in monthly trading volumes by now.
I couldn’t get Oanda’s people to comment on this subject.
Michael
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Oanda has always been the biggest broker but
FXCM is definitely catching up. Oanda used to be 3x the size of fxcm
Don’t compare Nxt to Doge please. This two coins are completely different just in every aspect.
The reason for the rise is that NXT became available in the BTER.com exchange, along with it the new CNY/NXT currency pair. The Chinese are bringing the price up.
DOGE has a huge community and has been around for a bit longer, but NXT leaves it quite behind if you consider present and planned features. NXT is quite more than a coin, it launched a few weeks ago, and this parallel will break soon in NXT’s favor as soon as it hits other big exchanges, which should happen soon. I cannot vouch for DOGE, but I’m pretty sure NXT will keep raising.
Far better, IMHO, to compare Nxt to other UPCOMING crypto platforms like eMunie and Ethereum, which are all-new takes on Bitcoin’s foundational ideas but NOT based on the Bitcoin blockchain or Bitcoin code. I think Nxt really is the first in what will likely be many new cryptocurrencies that “start fresh” based on the successes and learnings of several years of Bitcoin-in-the-wild.
NEXT- 100% premined and owned 71 developers. PoS a little bit modification of PPC and XRP concept. How it is advertise against being new code base versus BTC absolutely ponderous.
Why NXT is higher Market cap, because of supply and demand. Devs are unloading slowly but demands are high due to Marketing. But wait devs will unload the coins sooner or later, then see the force of free market where NXT stands– very very low.
Fundamental problems in the long run– rich get richer due to purely PoS system.