Retail Forex Funds in US See A 2.16% Down in Total Volumes Across July 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 July 2024 have a 2.16% 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 July 2024, the total forex funds held by these six registered brokers amounted to US$545,512,724, which was US$12,036,986 fewer than US$557,549,710 from June 2024.

Compared with US$518,545,521 in July 2023, it was up 5.2% Y-o-Y. The following chart is a all-round overview of the data of the six brokers from August 2023 to July 2024.

Registered Brokers' Performance: Only One Up

Among the six brokers listed, CHARLES SCHWAB (-0.89%, reducing US$557,200), Gain Capital (-0.81%, reducing US$1,680,410), OANDA (-4.41%, reducing US$8,502,939), tastyfx (-5.19%, reducing US$3,333,288）and Trading.com (-7.02%, reducing US$155,852) all saw M-o-M decline in July 2024.

Interactive Brokers was the only one that saw monthly rise in July, which was up 7.91%, increasing its total by $2,192,703.

Year-on-Year Changes of the Six Brokers

Compared with the data of the same month last year, CHARLES SCHWAB, Interactive Brokers and tastyfx all saw yearly decline: CHARLES SCHWAB dropped 1.68%, reducing $1,061,905; Interactive Brokers dropped 4.9%, reducing $1,540,034; and tastyfx dropped 11.24%, reducing US$7,720,532.

Trading.com Markets continued to have the biggest yearly growth, up to 87.9%, increasing $965,932. Gain Capital rose 3.56%, increasing $7,080,894; OANDA rose 18.85%, increasing $29,242,848.

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