CFTC Data: IB’ Retail FX Funds Surpass $100 Million in June

Interactive Brokers was the best performer over the last two months after recording an overall rise of nearly 30 percent.

Data from the US securities regulator for June shows that Interactive Brokers has added more than $8 million in retail forex deposits. After consecutive drops in its market share, Connecticut-based company was the best performer over the last two months after recording an overall rise of nearly 30 percent.

Earlier in February 2019, Interactive Brokers has moved past TD Ameritrade in the rankings as the company managed to score a rebound, paring all losses incurred over the past few months. The largest US electronic brokerage firm, as measured by DARTs, overtook TD Ameritrade as the US third-largest holder of retail FX funds —something that happens a number of times as both companies duke it out for dominance.

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Overall, the CFTC’s monthly report shows that balances of US retail traders have been largely flat or skewed slightly higher during the reported period.

According to the agency, the FX funds held at registered brokerages operating in the United States, including FCMs that are registered as Retail Foreign Exchange Dealers (RFEDs) and those included as broker-dealers, came in at $648.8 million in June 2019, which is a marginal increase of two percent month-over-month compared with the $634.9 million reported in May 2019.

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All the four FX firms listed notched increases in Retail Forex Obligations, the report shows

Meanwhile, GAIN Capital’s clients’ funds grew by $4.8 million, or nearly two percent month-over-month. Further, retail deposits at TD Ameritrade also rose by nearly $1.3 million in June 2019, while OANDA added only $348,000 in the same month.

Looking at the market share of different brokers, the distribution slightly changed in June relative to the month prior. GAIN Capital, the largest FX broker in the United States, remained the leader in terms of market share, commanding a 39.6 percent share, unchanged from the prior month but lower from 46 percent in the 2018 ranking.

OANDA also maintained its stance as the second largest in the US with 35.0 percent market share, down one percent over last month. Interactive Brokers and TD Ameritrade retained a 16 and ten percent share respectively.

The chart listed below outlines the full list of all FCMs that held Retail Forex Obligations in the month ending on June 30, 2019 – for purposes of comparison, the figures have been included against their May 2019 counterparts to illustrate disparities.

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