CFTC Releases Data: Four of the Five Brokers Saw Retail FX Deposits Drop in April

The Commodity Futures Trading Commission (CFTC) has published its monthly report for April 2022, revealing a month-on-month decline of 1.87 percent in retail FX deposits compared with the $505.7 million reported in March 2022.

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 CHARLES SCHWAB Futures & Forex LLC.

Only Interactive Brokers Saw Increase on Amount of Retail Forex Obligation

The chart listed below summarizes all the data published in the latest 12 months.

​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 the five registered brokerages hit over $496.2 million in April 2022. Four of the five brokers listed notched a fall in Retail Forex Obligations: Gain  Capital (-$5,236,118 or -2.64%), IG US (-$220,175 or -0.56%), OANDA (-$7,745,774 or -4.24%) and CHARLES SCHWAB (-$889,922 or -1.38%).

Only Interactive Brokers' retail FX deposits grew by 22.99 percent from $20.1 million in March 2022 to $24.7 million in April 2022.

OANDA Lose in Market Share While Interactive Brokers Gains

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

Although Interactive Brokers has the lowest market share, it saw an increased of 1 percent in its market share compared with the previous month.

For the fall in retail forex obligation, OANDA decreased in market share of 1 percent with a current share of 35 percent. Gain Capital is still the leading one of 39 percent market share. The remaining two broker's market share also kept unchanged from last month. IG US has the fourth largest market share of 8 percent while CHARLES SCHWAB has the third one of 13 percent.