CFTC Report Shows Retail Forex Funds in US Remained Unchanged, Total Volumes Slightly Drop 0.01% in May 2024

The US Commodity Futures Trading Commission (CFTC) has released its latest monthly report, which shows that retail forex funds in May 2024 largely remained the same, with the total volumes of six institutions dropping only 0.01% M-o-M.

The report covers registered retail foreign exchange dealers (RFEDs) and broker-dealers operating in the US. These include CHARLES SCHWAB Futures & Forex LLC, Gain Capital Group LLC, IG US LLC (tastyfx)*, Interactive Brokers LLC, OANDA Corporation, and Trading.com Markets.

* IG US has rebranded to tastyfx in June​

In May 2024, the total forex funds held by these six registered brokers amounted to US$547,720,095, down 0.01% from US$547,759,474 reported in April 2024.

Compared with US$527,970,307 in May 2023, it was up 3.74% Y-o-Y. The following chart is a all-round overview of the data of the six brokers from June 2023 to May 2024.

Registered Brokers' Performance: Two Down, Four Up

Among the six brokers listed, two of them have experienced monthly decline in May 2024, and one of them saw a fairly sharp drop. The rest went up monthly.

For the two declined, Interactive Brokers dropped 23.54% M-o-M, reducing its total by $8,426,343; IG US (tastyfx) dropped 0.86% M-o-M, reducing its total by $528,582.

In addition, CHARLES SCHWAB rose 1.11% M-o-M, increasing its total by $687,949; Gain Capital rose 1.76% M-o-M, increasing its total by $3,592,437; OANDA rose 2.44% M-o-M, increasing its total by $4,445,139; and Trading.com Markets rose 9.53% M-o-M, increasing its total by $190,021.

Year-on-Year Changes of the Six Brokers

Compared with the data of the same month last year, CHARLES SCHWAB, Interactive Brokers and IG US (tastyfx) all saw yearly decline: CHARLES SCHWAB dropped 5.36%, reducing $3,538,123; Interactive Brokers dropped 17.67%, reducing $5,883,881; IG US (tastyfx) dropped 12.78%, reducing $8,927,983.

Trading.com Markets had the biggest yearly growth, up to 114.58%, increasing $1,166,087. Gain Capital rose 5.56%, increasing $10,951,498; OANDA rose 16.16%, increasing $25,982,190.

About CFTC's Monthly Report

As per CFTC's request, Futures commission merchants (FCMs) and retail foreign exchange dealers (RFEDs) must file monthly financial reports with the CFTC's Market Participants Division (MPD) within 17 business days after the end of the month. The report released this month reflects the financial information filed as of June 30, 2024, reflecting the financial situation of the relevant brokers as of May 31, 2024.