Retail Forex Funds in US Continue to See A 2.83% Drop in Total Volumes Across Aug 2024, According to CFTC Report

The US Commodity Futures Trading Commission (CFTC) has released its latest monthly report, which shows that the total volumes of the retail forex funds of six institutions in August 2024 continued to see a 2.83% M-o-M decline.

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, Interactive Brokers LLC, OANDA Corporation, tastyfx* and Trading.com Markets.

* IG US has rebranded to tastyfx in June

In August 2024, the total forex funds held by these six registered brokers amounted to US$530,101,700, which was US$15,411,024 less than US$545,512,724 from July 2024.

Compared with US$524,962,114 in August 2023, it was up 0.98% Y-o-Y. The following chart is a all-round overview of the data of the six brokers from September 2023 to August 2024.

Registered Brokers' Performance: Two Up Four Down

Among the six brokers listed, CHARLES SCHWAB (2.19%, increasing US$1,362,924) and Interactive Brokers (12.51%, increasing US$3,743,455) saw monthly rise. On the other hand, the other four, Gain Capital (-1.46%, reducing US$3,013,079), OANDA (-4.50%, reducing US$8,298,212), tastyfx (-14.89%, reducing US$9,073,852）and Trading.com (-6.41%, reducing US$132,260) all saw M-o-M decline in August 2024.

Year-on-Year Changes of the Six Brokers

Compared with the data of the same month last year, tastyfx was the only that saw a decline by 29.76%, reducing US$21,981,505.

Trading.com Markets continued to have the biggest yearly growth, up to 81.01%, increasing $864,924. Im addition, CHARLES SCHWAB rose 2.80%, increasing $5,520,276; Interactive Brokers rose 0.31%, increasing $104,492; OANDA rose 12.58%, increasing $19,673,435.

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 September 30, 2024, reflecting the financial situation of the relevant brokers as of August 31, 2024.