May FCM Financials reported by the CFTC show an increase in Retail Forex funds. The trend of brokers contracting continues however political tensions in the middle east bring back traders to the markets.
The Retail FX market in the US saw an uptake in the amount of client funds regulated brokerages held for the month of May. According to data compiled by the country’s financial watchdog, the overall amount of client money increased from figures reported for the month of April. The change comes on the back of rapid price movements in major global financial instruments as political tensions in the Middle Eastern region showed signs of exhilarated Volatility.
The highlight of the month was the continued contraction in the retail FX market with two more brokers calling it a day, FXDD & ILQ. Although the brokers had reported their departure earlier, the figures were formally represented in May's financials.
The number of retail FX providers in the US has shrunk to a mere ten, 50% of the firms reported a drop in retail Forex funds with the remaining half seeing an uptake, overall the brokers' client funds were up by 0.8% month-on-month, by $4,757,791 with total funds recorded as $599 million. GAIN Capital saw the highest organic rise with over $3 million in new client funds reported.
FXCM’s US domination continued with the acquisition of FXDD’s client data, the firm reported that it acquired FXDD’s client base, a total of $27 million of client funds were migrated with approximately 7,000 traders, thus resulting in an average deposit of $3857.
CFTC May Financials
The US government's onslaught on OTC instruments has completely altered the operating environment. A number of harsh changes impacting leverage and order types has diminished a once thriving sector. The number of firms is expected to further reduce as capital requirements put pressure on brokers bottom-line. However, after years of doom and gloom for the US retail market, Singapore headquartered, Phillip Futures has reported that it will be joining the small herd of US brokers offering Spot FX, after gaining authorization from the CFTC the broker reported that it will commence operations in the latter stages of 2014.
The Retail FX market in the US saw an uptake in the amount of client funds regulated brokerages held for the month of May. According to data compiled by the country’s financial watchdog, the overall amount of client money increased from figures reported for the month of April. The change comes on the back of rapid price movements in major global financial instruments as political tensions in the Middle Eastern region showed signs of exhilarated Volatility.
The highlight of the month was the continued contraction in the retail FX market with two more brokers calling it a day, FXDD & ILQ. Although the brokers had reported their departure earlier, the figures were formally represented in May's financials.
The number of retail FX providers in the US has shrunk to a mere ten, 50% of the firms reported a drop in retail Forex funds with the remaining half seeing an uptake, overall the brokers' client funds were up by 0.8% month-on-month, by $4,757,791 with total funds recorded as $599 million. GAIN Capital saw the highest organic rise with over $3 million in new client funds reported.
FXCM’s US domination continued with the acquisition of FXDD’s client data, the firm reported that it acquired FXDD’s client base, a total of $27 million of client funds were migrated with approximately 7,000 traders, thus resulting in an average deposit of $3857.
CFTC May Financials
The US government's onslaught on OTC instruments has completely altered the operating environment. A number of harsh changes impacting leverage and order types has diminished a once thriving sector. The number of firms is expected to further reduce as capital requirements put pressure on brokers bottom-line. However, after years of doom and gloom for the US retail market, Singapore headquartered, Phillip Futures has reported that it will be joining the small herd of US brokers offering Spot FX, after gaining authorization from the CFTC the broker reported that it will commence operations in the latter stages of 2014.
58% of UK Investors Choose Professional Guidance over 'Finfluencers’
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
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Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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