Financial and Business News

US Forex Deposits Edge Lower in November as Interactive Brokers Plunges 20%

Monday, 26/01/2026 | 11:59 GMT by Damian Chmiel
  • Retail currency platforms shed $4.2 million as Interactive Brokers posts steepest monthly drop.
  • Three-month decline pushes industry deposits below the $500 million threshold for the first time since mid-2025.
fx deposits

Retail forex deposits across major US platforms slipped 0.8% in November 2025, falling to $495.7 million from October's $499.9 million as the industry posted its third consecutive monthly decline.

The slide extended a losing streak that began in September and pushed total deposits below the $500 million mark for the first time in months. Year-over-year, the industry shed 3% from November 2024's $509.7 million, reflecting persistent headwinds facing currency traders despite pockets of growth at smaller platforms.

Interactive Brokers Suffers Sharp Pullback

Interactive Brokers recorded the month's steepest decline, plunging 20% to $25.7 million from October's $31.0 million. The $5.2 million outflow marked the broker's worst monthly performance in recent periods and wiped out gains accumulated earlier in the year.

Despite the November setback, Interactive Brokers posted a modest 1% year-over-year gain from November 2024's $25.6 million, suggesting the platform retained some longer-term client acquisition momentum even as short-term flows reversed.

Charles Schwab declined 2.4% to $58.5 million from $59.9 million, shedding $1.4 million during the month. The institutional broker faced steeper annual pressure with deposits down 10% from November 2024's $64.4 million, marking one of the sharper year-over-year declines among major platforms.

Smaller Platforms Buck Industry Weakness

tastyfx emerged as November's strongest performer among major brokers, jumping 2.8% to $47.5 million from October's $46.2 million. The $1.3 million monthly gain bucked the broader downtrend and extended the platform's recovery from earlier weakness. Year-over-year, tastyfx posted a 10% gain from November 2024's $42.8 million.

Trading.com delivered the month's most impressive performance with a 16.4% surge to $3.0 million from October's $2.5 million. The $498,000 monthly gain represented the highest percentage increase among tracked brokers.

The platform showed even stronger annual momentum with deposits up 37% from November 2024's $1.9 million, marking the fastest growth rate in the industry.

Market Leaders Show Mixed Results

GAIN Capital held steady with a marginal 0.1% increase to $215.8 million from October's $215.4 million, adding just $316,000 in new deposits. The platform maintained its position as the largest US retail forex broker by client funds. Year-over-year, GAIN Capital posted a 5% gain from November 2024's $204.6 million, demonstrating resilience amid industry-wide pressure.

OANDA inched up 0.2% to $145.2 million from October's $144.9 million, gaining $325,000 during the month. However, the broker faced steeper annual headwinds with deposits down 17% from November 2024's $170.4 million, reflecting sustained client fund outflows over the past year.

The November decline continued a pattern that began in September when deposits first turned negative after a brief summer recovery. The three-month slide has now erased gains posted during mid-2025 as traders pulled back from currency positions amid shifting market conditions.

Retail forex deposits across major US platforms slipped 0.8% in November 2025, falling to $495.7 million from October's $499.9 million as the industry posted its third consecutive monthly decline.

The slide extended a losing streak that began in September and pushed total deposits below the $500 million mark for the first time in months. Year-over-year, the industry shed 3% from November 2024's $509.7 million, reflecting persistent headwinds facing currency traders despite pockets of growth at smaller platforms.

Interactive Brokers Suffers Sharp Pullback

Interactive Brokers recorded the month's steepest decline, plunging 20% to $25.7 million from October's $31.0 million. The $5.2 million outflow marked the broker's worst monthly performance in recent periods and wiped out gains accumulated earlier in the year.

Despite the November setback, Interactive Brokers posted a modest 1% year-over-year gain from November 2024's $25.6 million, suggesting the platform retained some longer-term client acquisition momentum even as short-term flows reversed.

Charles Schwab declined 2.4% to $58.5 million from $59.9 million, shedding $1.4 million during the month. The institutional broker faced steeper annual pressure with deposits down 10% from November 2024's $64.4 million, marking one of the sharper year-over-year declines among major platforms.

Smaller Platforms Buck Industry Weakness

tastyfx emerged as November's strongest performer among major brokers, jumping 2.8% to $47.5 million from October's $46.2 million. The $1.3 million monthly gain bucked the broader downtrend and extended the platform's recovery from earlier weakness. Year-over-year, tastyfx posted a 10% gain from November 2024's $42.8 million.

Trading.com delivered the month's most impressive performance with a 16.4% surge to $3.0 million from October's $2.5 million. The $498,000 monthly gain represented the highest percentage increase among tracked brokers.

The platform showed even stronger annual momentum with deposits up 37% from November 2024's $1.9 million, marking the fastest growth rate in the industry.

Market Leaders Show Mixed Results

GAIN Capital held steady with a marginal 0.1% increase to $215.8 million from October's $215.4 million, adding just $316,000 in new deposits. The platform maintained its position as the largest US retail forex broker by client funds. Year-over-year, GAIN Capital posted a 5% gain from November 2024's $204.6 million, demonstrating resilience amid industry-wide pressure.

OANDA inched up 0.2% to $145.2 million from October's $144.9 million, gaining $325,000 during the month. However, the broker faced steeper annual headwinds with deposits down 17% from November 2024's $170.4 million, reflecting sustained client fund outflows over the past year.

The November decline continued a pattern that began in September when deposits first turned negative after a brief summer recovery. The three-month slide has now erased gains posted during mid-2025 as traders pulled back from currency positions amid shifting market conditions.

Topics
forex deposits
tastyfx
Charles Schwab
gain capital
Interactive Brokers
oanda
Trading.com
About the Author: Damian Chmiel
Damian Chmiel
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Damian's adventure with financial markets began at the Cracow University of Economics, where he obtained his MA in finance and accounting. Starting from the retail trader perspective, he collaborated with brokerage houses and financial portals in Poland as an independent editor and content manager. His adventure with Finance Magnates began in 2016, where he is working as a business intelligence analyst.

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