FXCM maintains leader position in US retail forex market in May 2016

FXCM maintains leader position in US retail forex market in May 2016


US forex broker Forex Capital Markets, aka FXCM, continue to lead the list of largest forex brokers in the US in terms of retail client deposits in May 2016, according to data published on Monday by the US Commodity Futures Trading Commission (CFTC). It outpaced the market with a monthly growth in retail client deposits of 8.1% to nearly $182.1 million.

The broker’s adjusted net capital went down to $53.0 million at the end of May, after posting a monthly increase of 9% to $58.3 million in April. The figure exceeds the requires minimum of $32.3 million by $more than $20.7 million.

The US regulator also published the same data for all six forex brokers on the local retail market. More details about FXCM follow (as at 31 May 2016):

FXCM cftc data May 2016

While its client deposits grew in May, FXCM saw its clients increasing in May.  Both active trading accounts and tradable accounts, or those with enough funds in them to place a trade, slightly went up by 1% from the previous month to 177,900 and 170,850, respectively.

Compared on a monthly basis, its May retail trading volume went down by 2% to $280 billion.Despite the monthly drop, FXCM kept its position as the world’s second largest forex broker by retail trading volume, surpassed only by Japanese giant GMO Click Securities. Volume from institutional clients dropped 33% over the month to $50 billion in May, even though the report includes data from the new website for institutional forex trading, FXCMPro.com, that the broker launched the month before.

In June, the decline continued in the retail segment, but the institutional business slightly recovered. The broker’s retail trading volume slightly went down by 2% to $275 billion in June, while its trading volume from institutional clients jumped by 14 % to $57 billion.

FXCM offers both retail and wholesale trading services. Its offering consists of forex, contracts for difference (CFDs), and spread betting. The brokerage is a registered futures commission merchant (FCM) and a retail foreign exchange dealer (RFED) with the US CFTC. It has units registered and regulated with the relevant authorities in the US, the UK, Australia, and France.

Source: CFTC

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