US retail forex market client March deposits recover from February, Gain Capital remains on top

US retail forex market client March deposits recover from February, Gain Capital remains on top

USA

The deposits of US retail forex clients have showed signs of recovery after FXCM’s dramatic exit in February, according to the latest data from the US Commodity Futures Trading Commission (CFTC).

As per the filings of the four remaining retail forex brokers in the US: Gain Capital, Oanda, Interactive Brokers and TD Ameritrade, the total client deposits in the end of March stood at nearly $523.8 million. In comparison, in February they dropped to $507 million, down 4.7% from January’s 532.4 million.

As it is to be expected, Gain Capital remains the undisputed leader on the US retail forex market with client deposits amounting to nearly $272.2 million. The sum is slightly higher than February’s $271,4 million, up 113.9% from January, as a result of the acquisition of FXCM’s clients.

Second in March, but not even close to the leader, is Oanda with client deposits amounting to nearly $161.6 million. Still, the data shows that it posts the largest monthly increase among the four retail forex brokers in the US with a 9.3% growth from February’s $147.8 million.

Somewhat surprisingly, third comes in TD Ameritrade, which obtained its NFA membership as a forex dealer in February 2016 and is the latest addition to the shrinking US forex market. According to the CFTC filing, in March TD Ameritrade held client funds amounting to a little over $57 million, which is 5.5% more than in February. The data since the beginning of 2017 shows that this broker is slowly continuing its growth and, for that matter, is picking up speed.

Interactive Brokers, which has been in decline in the recent months, continues to lose client funds. In March it kept $32.9 million, down 2% from February and 9.8% from January.

The other US retail forex brokers that still have licenses, but are obviously inactive are Wedbush Securities and IBFX Inc.

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