April US Retail FX Deposits Data Released: Interactive Brokers' FX Funds Climbed for Third Consecutive Month

The Commodity Futures Trading Commission (CFTC) has published its monthly report for April2023, revealing a slight month-on-month increase of 0.06 percent in retail FX deposits compared with the prior month.

The CFTC has published its monthly report, which covers data for FCMs that are registered as Retail Foreign Exchange Dealers (RFEDs) and those included as broker-dealers that hold retail Forex obligations in the United States, namely Gain Capital Group LLC, IG US LLC, Interactive Brokers LLC, OANDA Corporation, CHARLES SCHWAB Futures & Forex LLC and Trading.com Markets.

According to the CFTC dataset, the FX funds held at the six registered brokerages hit $513.7 million in April 2023, a month-on-month rise of 0.06 percent compared with the $513.4 million reported in March 2023. Excluding Trading.com Markets, the retail FX deposits of the five established brokers reached $512.8 million.

The chart listed below summarizes all the data of the six brokers during the latest 12 months. For purposes of comparison, the month-on-month change of the recent months has been outlined to illustrate the disparities.

Interactive Brokers' Retail FX Deposits Climbed for Third Consecutive Month

In April 2023, only two brokers saw an increase in retail deposits. Interactive Brokers' retail FX deposits experienced a rise of 7.72 percent from $28.9 million in March 2023 to $31.1 million in April 2023. IG US saw an increase of $7 million to $58 million, compared to $51 million at the end of March 2023, or 13.7 percent higher month-over-month.

Gain Capital saw an decrease of $387,545 to $196.5 million, compared to $196.9 million at the end of March 2023, or 0.2 percent lower month-over-month. OANDA experienced a decrease of $6.6 million to $160 million, compared to $166.6 million in the month prior, reflecting a 3.9 percent decline.

CHARLES SCHWAB also saw a decrease of 2.79 percent to $67.2 million, compared to $69.1 million in the month prior. Trading.com Markets’s retail FX deposits experienced a 6.75 percent decline to $879,428 from last month’s $943,044.

IG US Gained in Market Share While OANDA Lose

Looking at the market share of these brokers, distribution changed slightly in April 2023 relative to the month prior. 

For the rise in retail forex obligation, IG US increased in market share of 1 percent with a current share of 11 percent. OANDA lose in market share of 1 percent with a current share of 31 percent.

Gain Capital remained the leader in terms of market share, commanding a 38 percent share, unchanged from the prior month. Interactive Brokers, CHARLES SCHWAB and Trading.com Markets’ market share kept unchanged from the last month, acquiring 6 percent, 13 percent and less than 1 percent share in this month respectively.