Retail forex (FX) deposits of six brokers operating in the U.S. saw a modest increase in October, rebounding from a September low. However, the total of $518.4 million remained among the lower figures in recent months. This update comes from the latest data published by the Commodity Futures Trading Commission (CFTC), which showed a rise of 0.4% from $516.3 million.

US FX Deposits Rebound in October 2023

According to CFTC regulations, each Retail Foreign Exchange Dealer (RFED) and Futures Commission Merchant (FCM) must report their financial positions monthly to the CFTC, including adjusted net capital, customer assets, and total retail forex obligations.

Retail forex obligations represent the total funds an FCM or RFED holds, comprising all money, securities, and property deposited by a 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 client across one or more retail forex accounts, adjusted for realized and unrealized net profit or loss.

Among the 62 registered FCMs and RFEDs, six firms disclosed data on obligations Obligations In finance, an obligation is a financial responsibility where the terms of a contract must be met. Should an obligation between parties fail then the party who is at default may face legal action. In this scenario, the guilty party will not only have to agree to pay the set amount to fulfill the contractual arrangement but may also be responsible for covering all legal proceedings cost. Routine payments or outstanding debt of any kind are considered financial obligations, so if someone owes you In finance, an obligation is a financial responsibility where the terms of a contract must be met. Should an obligation between parties fail then the party who is at default may face legal action. In this scenario, the guilty party will not only have to agree to pay the set amount to fulfill the contractual arrangement but may also be responsible for covering all legal proceedings cost. Routine payments or outstanding debt of any kind are considered financial obligations, so if someone owes you Read this Term. As usual, Gain Capital held the largest position, with deposits valued at $193.8 million. OANDA followed with $164.41 million, and Charles Schwab was third with $62.23 million. Others in order included I.G. U.S. ($60.52 million), Interactive Brokers ($36.3 million), and Trading.com ($1.1 million).

The outcome was an improvement not only month-over-month but also year-over-year. In October 2022, the total deposits for brokers were $504.1 million, marking an increase of nearly 3%.

Trading.com Sees Largest Growth

While the market share remained largely unchanged for most retail brokers, Trading.com, the smallest player in the list, saw a significant increase of 11% in deposits from $1.02 million reported the previous month.

The largest player, Gain Capital, experienced a decrease of 1% in deposits, shrinking by nearly $2 million. Charles Schwab also reported a similar loss. I.G. U.S.'s figures remained unchanged, and Interactive Brokers increased their deposits by 1%. In the same period, OANDA's deposits grew by 2% from $160.1 million reported in September.

Finance Magnates independently examines trends among retail investors. Using insights from CPattern, we present our indicators, tracking historical changes in average deposits, withdrawals, and initial deposits. The latest study highlighted a peak in deposit activity in September and an increase in the average single deposit to $2,135 from $1,855 in August.