The CFTC reported April financial data for reporting FCMs. For forex firms, there was very little change, as total Retail Forex Funds dropped $177,260 to $647,759,923. In this month’s data, Retail Funds for FX Solutions were reported as $0.00. The broker, who has exited the US market in February and sold its US client base to Gain Capital, had shown a $2,138,962 figure in March. This led us to speculate that those funds were from foreign based accounts that weren’t part of the companies transfer to Gain Capital. As such, after factoring out the current $2.1 million decline in Retail Forex Funds from FX Solutions, total US Retail Forex Funds actually grew $2 million during April.
Among individual names, the largest gainer was FXCM which saw account growth of $4.9 million, followed by Knight Capital which added $3.3 million in Retail Forex Funds. Heading firms that saw a drop in Retail Forex Funds, OANDA experienced a $3.9 million drop during April.
Guide to Outsourcing Your IT DepartmentGo to article >>