After seeing the Quarterly Report surpass the sales target yesterday I was also happy to see that IBTimes FX (one of the largest forex portals out there) picked up the report and cited it in their story.
Oanda Q1 Client Profitablity Falls, GFT Most ‘Profitable’ Broker in US: Forex Magnates
According to Forex Magnates Retail Forex Market quarterly report, Oanda witnessed a drop in client profitability. Oanda had to remove accounts which are only paid interest from the calculation as this was a new requirement set out by Commodity Futures Trading Commission (CFTC).
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This resulted in Oanda’s profitability number dropping to 38 percent in the first quarter from 43.5 percent in the fourth quarter of 2010 and 51 percent in the third quarter.