The Forex Magnates Q3 2014 US Profitability Report showed an increase in active traders in the country. Overall customer performance declined, but customers at InteractiveBrokers did well in Q3.
(Update: Figures on the chart have been updated to include records for MB Trading which were unavailable when the report was first published on October 28th, 2014 but became available in January 2015. Average profitability has been restated to 37.3% from 38.3%, with the weighted average slipping to 37.8% from 38.0%. The decline fits our expectations when we first published the report as stated below.)
The third quarter of 2014 is best known for trading action in September as volumes finally returned to the Forex market as Volatility across all major currencies spiked higher. The quarter also marked improvement for the US retail forex industry. In the latest filings from brokers that compose our Forex Magnates US Retail Forex Profitability Report, active accounts in the US grew by 3.4% to 92,729 (figures exclude MB Trading which has yet to provide figures to Forex Magnates).
During the same period though, customers recorded poorer trading performance in Q2 as on an adjusted weighted average, 38% of active accounts were profitable versus 39.5% in the previous quarter, with four out of six brokers recording falling profitability (final figures are expected to be revised lower as MB Trading’s results typically underperform other brokers and could push overall figures lower).
The story of the quarter though was the improvement in account growth. Although viewed as a second tier product compared to equities and futures trading in the US among active traders, accounts grew steadily at most brokers. Leading the way was InteractiveBrokers which saw accounts grow by 1,360 (5.4%) to 26,416. Also, OANDA, which had recorded the most profitable US customers in Q2, appeared to have been able to parley that performance to new customer growth as active accounts grew by 814 (4.0%) to 21,139.
Among other firms, FXCM also showed a solid increase of 957 accounts and topped the list at 26,617 active traders. However, a portion of those may be from IBFX, which would be double counted with IBFX’s reported figures. The two brokers are important to monitor as their Q4 report should shed light on explaining Q3 figures.
Final results above, previous figures below
Among individual brokers for performance, InteractiveBrokers retook the top spot of having the most profitable traders, with 46.9% of accounts in the black. The increase from Q2 was doubly impressive given the decline in profitability experienced at other major brokers. Falling during the quarter was OANDA, with only 37.4% of customers profitable during Q3 versus 45.5% in Q2. In recent quarters, OANDA’s US profitability results have been among the most volatile.
Elsewhere, although only a small fraction of the US market, traders at CitiFX recorded a 44% profitability rate. CitiFX’s figures tend to be in the upper half of results in the US. Average account sizes at both CitiFX and InteractiveBrokers are estimated to be well above those at other brokers. Therefore, their customer performance levels appear to have revealed that larger, more risk sensitive accounts benefited from the shift of low to high volatility taking place during the quarter.
(Update: Figures on the chart have been updated to include records for MB Trading which were unavailable when the report was first published on October 28th, 2014 but became available in January 2015. Average profitability has been restated to 37.3% from 38.3%, with the weighted average slipping to 37.8% from 38.0%. The decline fits our expectations when we first published the report as stated below.)
The third quarter of 2014 is best known for trading action in September as volumes finally returned to the Forex market as Volatility across all major currencies spiked higher. The quarter also marked improvement for the US retail forex industry. In the latest filings from brokers that compose our Forex Magnates US Retail Forex Profitability Report, active accounts in the US grew by 3.4% to 92,729 (figures exclude MB Trading which has yet to provide figures to Forex Magnates).
During the same period though, customers recorded poorer trading performance in Q2 as on an adjusted weighted average, 38% of active accounts were profitable versus 39.5% in the previous quarter, with four out of six brokers recording falling profitability (final figures are expected to be revised lower as MB Trading’s results typically underperform other brokers and could push overall figures lower).
The story of the quarter though was the improvement in account growth. Although viewed as a second tier product compared to equities and futures trading in the US among active traders, accounts grew steadily at most brokers. Leading the way was InteractiveBrokers which saw accounts grow by 1,360 (5.4%) to 26,416. Also, OANDA, which had recorded the most profitable US customers in Q2, appeared to have been able to parley that performance to new customer growth as active accounts grew by 814 (4.0%) to 21,139.
Among other firms, FXCM also showed a solid increase of 957 accounts and topped the list at 26,617 active traders. However, a portion of those may be from IBFX, which would be double counted with IBFX’s reported figures. The two brokers are important to monitor as their Q4 report should shed light on explaining Q3 figures.
Final results above, previous figures below
Among individual brokers for performance, InteractiveBrokers retook the top spot of having the most profitable traders, with 46.9% of accounts in the black. The increase from Q2 was doubly impressive given the decline in profitability experienced at other major brokers. Falling during the quarter was OANDA, with only 37.4% of customers profitable during Q3 versus 45.5% in Q2. In recent quarters, OANDA’s US profitability results have been among the most volatile.
Elsewhere, although only a small fraction of the US market, traders at CitiFX recorded a 44% profitability rate. CitiFX’s figures tend to be in the upper half of results in the US. Average account sizes at both CitiFX and InteractiveBrokers are estimated to be well above those at other brokers. Therefore, their customer performance levels appear to have revealed that larger, more risk sensitive accounts benefited from the shift of low to high volatility taking place during the quarter.
Gender Gap in Online Privacy Concerns: Women More Reserved in Sharing Personal Data
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!
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
📣 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:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
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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
📣 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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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
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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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
📣 Stay updated with the latest in finance and trading!
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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