IG US’ Retail FX Deposits Rise 13% in September 2020
- IG US is taking market share away from big players, still it has a long way to challenge the likes of GAIN Capital and Oanda.
IG US was the best performer among retail FX brokers in the United States, after racking up $21.7 million in customer deposits in September 2020. This figure is higher by 13 percent from the previous month and was also six times bigger than the $3.5 million it collected when the company re-launched its operations a year ago.
IG US has been taking market share away from traditional big players, but the US subsidiary of the London-based spread better still has a long way to challenge the likes of GAIN Capital and Oanda, which command nearly 75 percent of the US retail market.
Overall, the CFTC’s latest monthly report shows that balances of US retail traders have skewed higher during the reported period.
According to the agency, the FX funds held at registered brokerages operating in the United States, including FCMs that are registered as Retail Foreign Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term Dealers (RFEDs) and those included as broker-dealers, came in at $579 million in September 2020, which is a mild increase of 4 percent month-over-month compared with the $556 million reported in August 2020.
Interactive Brokers Shines Elsewhere
GAIN Capital’s clients’ funds grew by $12.7 million, or nearly 6 percent month-over-month. Further, retail deposits at TD Ameritrade also rose by nearly $735K in September while OANDA added more than $8.0 million in the same month.
Interactive Brokers lost nearly $440,000 in retail Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term deposits, or less than 1 percent compared to the figure of August, which stood at $54 million.
The Connecticut-based company was the worst performer in August after recording an overall drop in FX traders’ deposits by $6.3 million, or 9 percent. In contrast, the electronic brokerage segment at Interactive Brokers, which deals with clearance and settlement of trades for individual and institutional clients globally, experienced a rush of activity with volumes rising by 132 percent year-over-year and nearly 12 percent on a monthly basis.
CFTC data
IG US was the best performer among retail FX brokers in the United States, after racking up $21.7 million in customer deposits in September 2020. This figure is higher by 13 percent from the previous month and was also six times bigger than the $3.5 million it collected when the company re-launched its operations a year ago.
IG US has been taking market share away from traditional big players, but the US subsidiary of the London-based spread better still has a long way to challenge the likes of GAIN Capital and Oanda, which command nearly 75 percent of the US retail market.
Overall, the CFTC’s latest monthly report shows that balances of US retail traders have skewed higher during the reported period.
According to the agency, the FX funds held at registered brokerages operating in the United States, including FCMs that are registered as Retail Foreign Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term Dealers (RFEDs) and those included as broker-dealers, came in at $579 million in September 2020, which is a mild increase of 4 percent month-over-month compared with the $556 million reported in August 2020.
Interactive Brokers Shines Elsewhere
GAIN Capital’s clients’ funds grew by $12.7 million, or nearly 6 percent month-over-month. Further, retail deposits at TD Ameritrade also rose by nearly $735K in September while OANDA added more than $8.0 million in the same month.
Interactive Brokers lost nearly $440,000 in retail Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term deposits, or less than 1 percent compared to the figure of August, which stood at $54 million.
The Connecticut-based company was the worst performer in August after recording an overall drop in FX traders’ deposits by $6.3 million, or 9 percent. In contrast, the electronic brokerage segment at Interactive Brokers, which deals with clearance and settlement of trades for individual and institutional clients globally, experienced a rush of activity with volumes rising by 132 percent year-over-year and nearly 12 percent on a monthly basis.
CFTC data