CFTC Releases Report: Retail Forex Funds in US Drop 1.65% in September

The US Commodity Futures Trading Commission (CFTC) has released its latest monthly report, which shows that retail forex funds in September 2023 decreased by 1.65% M-o-M.

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

In September 2023, the total forex funds held by these six registered brokers amounted to US$516,326,469, down 1.65% from US$524,962,114 reported in August 2023. However, compared with US$489,596,987 in September 2022, it was up 5.46% Y-o-Y.

The following chart is a comprehensive overview of the data of these six brokers in 2023 (as of September).

Registered Brokers' Performance: Three Down, Three Up

Among the six brokers listed, three experienced a drop in their retail forex funds in September 2023, while the other three saw an increase.

IG US had the largest decline, falling 18.15% M-o-M, reducing its total by $13.4 million; followed by Trading.com Markets, which fell 4.24% M-o-M, but due to its low total among the six brokers, its reduction was only about $45,000; the third was Gain Capital, which fell 1.08% M-o-M, reducing its total by $2.1 million.

Interactive Brokers had the largest increase, rising 6.85% M-o-M, increasing its total by $2.3 million; followed by OANDA, which rose 2.88% M-o-M, increasing its total by about $4.5 million; the third was CHARLES SCHWAB, which rose 0.25% M-o-M, increasing its total by $156,000, almost the same as last month.

Market Share Changes of Six Brokers in September 2023

The market share changes in September 2023 mainly came from IG US, Interactive Brokers and OANDA. IG US saw its market share drop by 2%, falling to 12%, compared with that of August; Interactive Brokers saw its market share rise by 1%, reaching 7%, compared with that of August; OANDA saw its market share rise by 1%, compared with that of August, reaching 31%. The market share of the remaining three brokers remained unchanged.

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 November 6, 2023, reflecting the financial situation of the relevant brokers as of September 30, 2023.