Interactive Brokers’ Retail Forex Deposits Declined in July, While Other Four Saw Slight Growth

The Commodity Futures Trading Commission (CFTC) has published its monthly report for July 2022, revealing a month-on-month increase of 0.39 percent in retail FX deposits compared with the $510.1million reported in June 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 Decrease on Amount of Retail Forex Obligation

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

According to the CFTC dataset, the FX funds held at the five registered brokerages hit over $512.1 million in July 2022. For purposes of comparison, the month-on-month change of the recent months has been outlined to illustrate the disparities.

In July, Gain Capital saw an increase of $1.7 million to $192.8 million, compared to $191.1 million at the end of June, or 0.89 percent higher month-over-month. IG US also reported a rise of $2.4 million to $51.4 million, which is 4.96 percent higher over a monthly basis.

Oanda reported a slight increase over last month's figure by $88,446 to $170.4 million at the end of July 2022, compared with $170.3 million in the previous month, which is up by 0.05 percent on a monthly basis.

In addition, CHARLES SCHWAB saw an overall increase of $506,274 to $73.9 million, compared to $73.4 million in the month prior, reflecting a 0.69 percent increase month-over-month.

Only Interactive Brokers' retail FX deposits declined by 10.36 percent from $26.3 million in June 2022 to $23.6 million in July 2022.

Gain Capital Gains in Market Share

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

For the rise in retail forex obligation, GAIN Capital increased in market share of 1 percent with a current share of 38 percent, remaining the leader in terms of market share. OANDA also solidified its stance as the second largest in the US with 33 percent market share, unchanged from the last month.

The remaining brokers' market share also kept unchanged. IG US acquired 10 percent share in this month, CHARLES SCHWAB retained the third rank with 14 percent, while Interactive Brokers has the last one of 5 percent.