CFTC Data Shows US Retail FX Deposits Slightly Lower in July, IB Gains

Interactive Brokers showed substantial growth MoM.

The Commodity Futures Trading Commission (CFTC) has released its monthly composite of key figures and data for Futures Commission Merchants (FCMs), this time for the month ending in July 31, 2017. According to the CFTC dataset, three of the four FX firms listed saw declines in Retail Forex Obligations compared with the month prior.

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The statistics didn’t show notable changes in terms of retail FX funds held at registered brokerages operating in the United States – a drop of 2.0 percent month-over-month was seen in July 2017 with a result of $518.9 million, compared with $530.9 million reported in June.

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Out of the four reporting FCMs that hold Retail Forex Obligations, three of them reported lower figures in July – GAIN Capital, OANDA Corporation and TD AMERITRADE. The largest single loss was made by OANDA, which saw a drop of $8.3 million, or more than 5.0 percent month-over-month. In addition, GAIN Capital saw an overall drop to $252.7 million at the end of July 2017, compared to $260.5 million at the end of June, or a decrease by -3 percent MoM.

Interactive Brokers was the notable exception, as the broker dealer saw substantial growth month-over-month across its Retail Forex Obligations. The company notched an increase over last month’s figure by $5.23 million, gaining 13.0 percent compared to June’s metrics.

The report covers data for FCMs that are registered as Retail Foreign Exchange Dealers (RFEDs) and those also included as broker dealers that hold retail forex obligations in the United States.

The chart listed below outlines the full list of all FCMs that held Retail Forex Obligations in the month ending in July 31, 2017 – for purposes of comparison, the figures have been included against their June 2017 counterparts to illustrate disparities.

Total Amount of Retail Forex Obligations for July 2017, Source: CFTC
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