GAIN Capital Gains US Market Share in October after MB Trading Flow Added

The trading volumes of MB Trading's clients have started to flow through to GAIN Capital after acquisition from IB TradeKing

Following the publication of official data from the U.S. Commodity Futures Trading Commission (CFTC), we can review the final results from the latest round of consolidation of the retail forex market in the U.S.

The acquisition of the client assets of MB Trading by TradeKing, has benefited GAIN Capital, as MB Trading’s license was dropped for TradeKing to become an introducing broker for the second biggest brokerage by assets in the U.S.

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As a result, the retail forex funds held at GAIN Capital have ballooned 15 percent, reaffirming its second place position in terms of the market share in the U.S. The company is now holding about 24 percent of total client assets, trailing behind FXCM, which has 32 percent of the total, but comfortably ahead of OANDA in third spot with 18 percent.

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CFTC, Gain Capital, FXCM, OANDA
October is bringing further consolidation to the industry

Looking at the next three, the differences between Interactive Brokers, IBFX and Canadian Wedbush Securities are tight, with the companies respectively holding 10, 9 and 8 percent of the total U.S. market.

The total number of retail forex funds during the month of October remained largely unchanged as the market activity hasn’t been material enough to affect the figures.

Rebalancing on the U.S. foreign exchange market in October

Looking back to the beginning of the year, when the Swiss National Bank (SNB) induced shock to the industry and shifted the scales, FXCM is looking solid, as it is now holding more client assets than before the event. During the same 10 month period, the retail forex funds held with GAIN Capital have grown by about 30 percent, which is a substantial increase for such a short period of time.

Half of GAIN Capital’s growth was organic, while the other half was the acquisition of the client assets of MB Trading by TradeKing.

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