CFTC Releases Report: Retail Forex Funds in US See A Slight 0.405% Growth in October

​The US Commodity Futures Trading Commission (CFTC) has released its latest monthly report, which shows that retail forex funds in October 2023 increased by 0.405% 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 October 2023, the total forex funds held by these six registered brokers amounted to US$518,418,619, up 0.405% from US$516,326,469 reported in September 2023.

Compared with US$504,096,679 in October 2022, it was up 2.842% Y-o-Y. The following chart is a comprehensive overview of the data of these six brokers in 2023 (as of October).

Registered Brokers' Performance: Two Down, Four Up

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

CHARLES SCHWAB declined 1.046% M-o-M, reducing its total by $658,005; Gain Capital fell 0.739% M-o-M, reducing its total by $1,443,570.

Trading.com Markets had the highest M-o-M growth among the growing four, rising 12.522%. But due to its low total among the six brokers, its increased amount was only $128,024; OANDA rose 2.188% M-o-M, increasing its total by about $473,290; Interactive Brokers rose 1.32% M-o-M, increasing its total by $473,290; IG US rose 0.119% M-o-M, increasing its total by $71,662.

Year-on-Year Changes of the Six Brokers

Compared with the data of the same month last year, we also saw two declining and four rising. Among them, Trading.com Markets had the highest Y-o-Y growth, rising 124.508%, doubling its total by $637,999. Interactive Brokers rose 37.412% Y-o-Y, increasing its total by $9,889,453; IG US rose 11.133%, increasing its total by $6,062,581; Gain Capital rose 6.222% Y-o-Y, increasing its total by $11,351,826.

On the other hand, CHARLES SCHWAB fell 8.392% Y-o-Y, reducing its total by $5,700,006; OANDA fell 4.596%, reducing its total by $7,919,913.

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 30, 2023, reflecting the financial situation of the relevant brokers as of October 31, 2023.