US Retail Forex Deposits Fall to $462 Million, the Lowest Since at Least 2023

Customer deposits at US retail forex brokers fell to $462.31 million in June, a third straight monthly decline. The total is the lowest since at least September 2023, according to Commodity Futures Trading Commission filings.

Three months of losses have taken $26.29 million out of the industry since March, a fall of 5.38% that erased the first-quarter recovery FinanceMagnates.com reported in May.

The industry has also dropped under the level that drew attention in January. That month's $472.96 million was the lowest in more than two years when FinanceMagnates.com first reported it. June closed $10.65 million below it.

OANDA and Charles Schwab Set Fresh Lows

OANDA ended June with $132.89 million, down 2.10% on the month. That is the smallest balance it has recorded in the data, and 3.62% less than it held a year earlier.

Charles Schwab's forex unit fell for a third month running, to $54.09 million. That figure is also a low for the series, and 12.91% below where the unit stood in June 2025.

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• Interactive Brokers Surges 21% to Lead the US Forex Deposit Recovery

Gain Capital, the StoneX subsidiary behind 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.com, held $197.09 million and 42.6% of all US retail forex deposits. Its balance is the lowest since October 2023.

Those three hold 83.08% of the market between them, down 1.11 percentage points from a year ago. Every one of the six brokers ended June with less client money than it held in March.

A Year of Ownership Change at OANDA

OANDA has been through a change of owner and of management since FTMO bought it from CVC. The prop firm's founders took over as co-chief executives in March.

OANDA began moving its proprietary trading clients onto FTMO's platform on 2 March.

In Japan, OANDA more than doubled MetaTrader 4 margin requirements from 12 June, pushing accounts that could not meet them onto MetaTrader 5.

Neither change touches the US entity that files the CFTC numbers. OANDA has published no explanation for the fall in its American balances.

tastyfx and Trading.com Keep Their Annual Gains

tastyfx held $47.98 million, 1.92% lower on the month but 23.86% above June 2025. IG Group's US brand has added $9.24 million of client money Client Money Client money refers to the money or margin – which may be any currency in the form of cash, check, draft, or electronic transfer – that a firm receives or holds for a client. Money held by a firm in the form of a stakeholder, which is are not payable on demand or immediately due, also refers to client money. The definition of client money does not apply to money held by businesses that operate in its own name on behalf of a client. Although the client does have to be in agreement before this arr Client money refers to the money or margin – which may be any currency in the form of cash, check, draft, or electronic transfer – that a firm receives or holds for a client. Money held by a firm in the form of a stakeholder, which is are not payable on demand or immediately due, also refers to client money. The definition of client money does not apply to money held by businesses that operate in its own name on behalf of a client. Although the client does have to be in agreement before this arr Read this Term in a year, after launching Prime accounts that paid up to 6% on idle cash last September.

Trading.com, the smallest of the six at 0.6% of deposits, was the only riser in June. The Trading Point subsidiary held $2.92 million, up 2.08% on May and 24.67% on a year earlier.

Between them the two hold $50.90 million, against $41.08 million in June 2025. The other four are all below where they were a year ago.

Interactive Brokers Shrinks in Forex While Its Brokerage Grows

Interactive Brokers reported $27.33 million, up 0.55% on the month after an 8.72% fall in May. Its forex balances are 21.31% below June 2025, the steepest annual drop of the six.

The wider brokerage went the other way. Interactive Brokers reported 5.26 million daily average revenue trades in June, 53% more than a year earlier, with client accounts up 34% to 5.18 million.

Client equity finished the month at $930.3 billion. Against that, the US retail forex book is a rounding error.

Its forex deposits have swung all year. They fell 20% in November before rebounding the following month.

What the CFTC Number Counts

Only six firms are registered to take retail forex deposits in the US. Dealers must hold at least $20 million in adjusted net capital, plus 5% of any retail forex obligation above $10 million.

The reported figure is a month-end snapshot of what those firms owe retail forex customers, and the CFTC adjusts it for realized and unrealized trading profit and loss.

A decline can therefore reflect customer withdrawals, trading losses, or both. The filings do not separate them.