Retail FX Deposits Top $20M at IG US, Commands 3pc Market Share

FX funds held at registered brokerages operating in the United States came in at $639 million in January 2020.

US retail FX business of Europe’s largest online trading platform, IG US, has increased its market share after racking up $20.4 million in customer deposits in January 2020. This figure is higher by 25 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 back in mid-2019.

US-based clients of the UK-listed spread better can trade over 80 currency pairs, with zero commission and spreads on major pairs that the company claims to be 20 percent lower relative to the top two US forex brokers.

Overall, the CFTC’s latest monthly report shows that balances of US retail traders have skewed higher during the first month of the new year.


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 Dealers (RFEDs) and those included as broker-dealers, came in at $639 million in January 2020, which is a mild increase of two percent month-over-month compared with the $629 million reported in December 2019.

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Interactive Brokers loses 20% of retail deposits

Interactive Brokers clients’ funds grew by $7.5 million, or nearly ten percent month-over-month. The Connecticut-based company was the worst performer over the last few months after it lost one-fifth of its FX traders’ deposits, which surpassed $100 million for the first time in June 2019.

Elsewhere, retail deposits at TD Ameritrade and Oanda were virtually unchanged from the month prior, coming in at $62 million and $240 million, respectively. Gain Capital was the single loser, having lost $2.7 million or one percent of retail assets in January 2020.

Recent data from the US biggest retail FX broker, however, showed that its clients transacted a total of $161 billion in January, up 23 percent month-over-month from $131 billion in December 2019. Over a yearly timetable, GAIN’s latest retail OTC volume was lower by 12 percent from $184 billion in January 2019.

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