Retail Forex Funds in US Continue to See A Slight 0.63% Drop in Total Volumes Across Sept 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 September 2024 continued to see a slight 0.63 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 September 2024, the total forex funds held by these six registered brokers amounted to US$526,758,856, which was US$3,342,844 less than US$530,101,700 from August 2024.

Compared with US$516,326,469 in September 2023, it was up 2.02% Y-o-Y. The following chart is a all-round overview of the data of the six brokers from October 2023 to September 2024.

Registered Brokers' Performance: Two Up Four Down

Among the six brokers listed, CHARLES SCHWAB (2.49%, increasing US$1,586,540) and Gain Capital (0.85%, increasing US$1,723,496) saw monthly rise. On the other hand, Interactive Brokers (-15.25%, reducing US$5,131,564), OANDA (-0.18%, reducing US$318,676), tastyfx (-1.99%, reducing US$1,033,253) and Trading.com (-8.76%, reducing US$169,387) all saw M-o-M decline in September 2024.

Year-on-Year Changes of the Six Brokers

Compared with the data of the same month last year, Interactive Brokers and tastyfx both saw yearly decline. The former dropped 20.43%, reducing US$7,324,897, and the latter dropped 15.90%, reducing US$9,608,648.

Trading.com Markets continued to have the biggest yearly growth, up to 72.46%, increasing $740,801. In addition, CHARLES SCHWAB rose 3.80%, increasing $2,388,991; Gain Capital rose 4.80%, increasing $9,381,074; OANDA rose 9.23%, increasing $14,855,066.

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