CFTC Data Shows 4.25% Increase in Retail FX Deposits for September

The Commodity Futures Trading Commission (CFTC) has published its monthly report for September 2020, revealing a month-on-month rise of 4.25 percent in retail FX deposits compared with the $556 million reported in August 2020.

The report 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 and TD Ameritrade Futures & Forex LLC.

IG US Showed Nearly 13 percent Increase

The chart listed below summarizes all the data published this year. For purposes of comparison, the month-on-month change of the recent months has been outlined to illustrate the disparities.

According to the agency, the FX funds held at registered brokerages operating in the United States came in at $580 million in September 2020.

Only one of the five FX firms listed notched a slight fall in Retail Forex Obligations, namely Interactive Brokers, which saw its clients’s assets fall by $440,817, or nearly 1 percent month-over-month.

Meanwhile, IG US has been the best performer. The US arm of Europe’s largest spread grew by nearly 13 percent from $19 billion in August 2020.

Further, Gain Capital’s client funds showed a increase of $13 million or nearly 6 percent month-over-month while Oanda reached $8 million, up 4 percent against in the prior month. Over a monthly timetable, TD Ameritrade is virtually unchanged from the month prior, coming in at $68 million.

Interactive Brokers was the Only Loser

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

For the fall in retail forex obligation, Interactive Brokers became the only loser in market share, seeing a fall of 1 percent. Gain Capital kept leads in market share, coming at 39 percent share.  IG US acquired 4% share while Oanda and TD Ameritrade kept the same as in August, with 35% and 12% respectively.