CFTC Report Shows Continued Retail Forex Funds Growth in US, Average Growth Hits 3.34% in March 2024

The US Commodity Futures Trading Commission (CFTC) has released its latest monthly report, which shows that retail forex funds in March 2024 increased again, with an average M-o-M growth 3.34%.

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

In March 2024, the total forex funds held by these six registered brokers amounted to US$549,389,183, up 1.31% from US$542,302,015 reported in February 2024.

Compared with US$513,446,269 in March 2023,it was up 7% Y-o-Y. The following chart is a comprehensive overview of the data of these six brokers from Apr 2023 to Mar 2024.

Registered Brokers' Performance: Two Down, Four Up

Among the six brokers listed, two of them have experienced a less-than-1% drop in their retail forex funds in March 2024, while the rest saw an increase.

CHARLES SCHWAB dropped 0.46% M-o-M, reducing its total by $288,891; Gain Capital dropped 0.45% M-o-M, reducing its total by $943,649; IG US rose 4.74% M-o-M, increasing its total by $2,742,363; Interactive Brokers rose 4.07% M-o-M, increasing its total by $1,258,796; OANDA rose 2.31% M-o-M, increasing its total by $4,161,240; and Trading.com Markets rose 9.82% M-o-M, increasing its total by $157,309.

Year-on-Year Changes of the Six Brokers

Compared with the data of the same month last year, CHARLES SCHWAB was still the only broker that saw a decline, which is 9.73%, reducing $6,729,087. Among the rest, Trading.com Markets had the highest Y-o-Y growth, rising 86.62%, increasing its total by $816,823.

Gain Capital rose 5.86% Y-o-Y, increasing its total by $11,538,293; IG US rose 18.83% Y-o-Y, increasing its total by $9,608,185; Interactive Brokers rose 11.41%, increasing its total by $3,295,472; and OANDA rose 10.45% Y-o-Y, increasing its total by $17,413,228.

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 April 30, 2024, reflecting the financial situation of the relevant brokers as of March 31, 2024.