Market Volatility Pushes US Retail Forex Up 4.3% in November
by
Adil Siddiqui
The american's regulator's metrics reflects an uptake in the total value of client funds in the retail sector, most notably at FXCM, Interactive brokers and KCG. Total funds topped $630 million.
Financial services firms operating in the US margin derivatives segment have reported their November operating metrics through the CFTC. The emphatic end to a moderate year, with a wave of Volatility impacting global financial markets, triggered a rise in the total value of funds held at Forex providers.
The value of funds increased by 4.3% on a month-on-month basis, thus signalling positive sentiment among traders due to the spike in market volatility.
The CFTC authorised that firms report monthly data to the watchdog, a practise that came into place post the 2008 recession. Of the nine broker-dealers, three saw an increase in the value of funds which supported the overall figures. Listed broker, FXCM, saw the largest increase with over twenty million dollars in new client funds, the firm taking over FXDD US in May 2014 business, however, according to October’s figures there were no pending funds awaiting migration, thus indicating that FXCM’s MoM increase was all fresh funds.
Apart from FXCM, only Interactive Brokers and KCG saw figures in the green, with both players mainly dealing with institutional business. The remaining six brokers, with three of them holding pure retail books, saw low value reductions in their monthly client deposits. GAIN Capital saw a 0.52% decline with October figures showing $105,716 million in forex funds dropping by $660,863.
The once thriving US forex broking space has taken a sharp U-turn with only nine participants remaining. In the latest CFTC repro, FXDD was removed as the final integration with FXCM took place. The North American FX market has suffered immensely following the 2008 recession which resulted in new rules taking shape and driving brokers away from the world’s largest economy.
Financial services firms operating in the US margin derivatives segment have reported their November operating metrics through the CFTC. The emphatic end to a moderate year, with a wave of Volatility impacting global financial markets, triggered a rise in the total value of funds held at Forex providers.
The value of funds increased by 4.3% on a month-on-month basis, thus signalling positive sentiment among traders due to the spike in market volatility.
The CFTC authorised that firms report monthly data to the watchdog, a practise that came into place post the 2008 recession. Of the nine broker-dealers, three saw an increase in the value of funds which supported the overall figures. Listed broker, FXCM, saw the largest increase with over twenty million dollars in new client funds, the firm taking over FXDD US in May 2014 business, however, according to October’s figures there were no pending funds awaiting migration, thus indicating that FXCM’s MoM increase was all fresh funds.
Apart from FXCM, only Interactive Brokers and KCG saw figures in the green, with both players mainly dealing with institutional business. The remaining six brokers, with three of them holding pure retail books, saw low value reductions in their monthly client deposits. GAIN Capital saw a 0.52% decline with October figures showing $105,716 million in forex funds dropping by $660,863.
The once thriving US forex broking space has taken a sharp U-turn with only nine participants remaining. In the latest CFTC repro, FXDD was removed as the final integration with FXCM took place. The North American FX market has suffered immensely following the 2008 recession which resulted in new rules taking shape and driving brokers away from the world’s largest economy.
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Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
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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
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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
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
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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.
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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.
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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.
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