US retail forex deposits continue to grow in Dec 2016, Interactive Brokers outgrows market

US retail forex deposits continue to grow in Dec 2016, Interactive Brokers outgrows market

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Multi-asset brokerage Interactive Brokers registered a monthly growth in retail forex deposits of 8.8% in December 2016, outgrowing significantly the market which accelerated by just 0.4%, according to the latest data provided by the US Commodity Futures Trading Commission (CFTC).

The broker, however, continues to have the lowest amount of forex client assets in the US and even posted the highest annual drop of more than 24%.

Overall, the retail forex market in the US is stabilizing, although it is still at low levels, if compared to previous periods. In December, the broker reached the highest monthly value of forex assets of retail traders in 2016. However, it is 3.4% below December in the preceding year, which was 2015’s lowest monthly reported value.

US retail forex deposits 2016

There are just five brokers authorized in the US to provide retail forex services. In December, the market continued to be led by Forex Capital Markets, or FXCM. Both FXCM and Oanda Corp., which is second in the ranking, saw their forex deposits slightly up in December by 0.3% to $179 million and $134.5 million, respectively. Compared to the same month a year earlier, FXCM reported a slight increase of 1.9%, while Oanda’s forex deposits jumped by 37.2%.

More details about the US market’s retail forex deposits statistics for December 2016 follow:

Forex broker

Total retail forex obligation Dec ‘16

Total retail forex obligation Nov ‘16

M/M change

Total retail forex obligation Dec ’15

Y/Y change

Forex Capital Markets LLC

$178,977,382

$178,375,472

+0.3%

$175,650,526

+1.9%

Gain Capital Group LLC

$128,503,549

$129,889,181

-1.1%

$132,757,532

-3.2%

IBFX INC

$48,803,105

Interactive Brokers LLC

$33,452,977

$30,753,727

+8.8%

$44,069,537

-24.1%

Oanda Corporation

$134,545,221

$134,087,268

+0.3%

$98,046,686

+37.2%

Wedbush Securities INC

$44,759,668

TD Ameritrade Futures & Forex LLC

$50,261,654

$50,575,904

-0.6%

TOTAL

$525,740,783

$523,681,552

+0.4%

$544,087,054

-3.4%

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