Today, Monday 18th October 2010, is the day that all US forex brokers must disclose their account profitability and number of non discretionary accounts. I’ve already published Interbank FX’s and FXCM’s numbers here and today I’ve gone ahead and compiled a comparison table of US brokers. Ten brokers have reported the numbers so far while I couldn’t find FXDD and Advanced Markets numbers yet. CMS Forex and Easy Forex are out of the game as you already know.. It’s not yet clear whether SEC brokers such as Citi or Deutsche will need to provide these numbers as well.
Now you can compare various brokers account profitability and see where your own broker stands. With the exception of OANDA, which completely stands out from rest of the brokers both in terms of account profitability and in number of accounts, all other brokers show more or less same numbers – around 25% profitable accounts on average. PFG shows the worst profitability with only 21% profitable and IG Markets is the smallest US brokers with only 464 accounts (a fraction comparing to the numbers of the largest US broker in terms of accounts – OANDA).
Please note that it’s not yet fully known whether all brokers used same methodology when counting these numbers.
How to Generate Leads Outside of the Box?Go to article >>
Those who’d like to see the full quarterly breakdown the numbers are below.