Retail FX Deposits of Five FX Firms Recovery in May, CFTC Data Shows

The Commodity Futures Trading Commission (CFTC) has published its monthly report for May 2022, revealing a month-on-month increase of 2.64 percent in retail FX deposits compared with the $496.2 million reported in April 2022.

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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.

Five FX firms Saw Their Retail Forex Obligations Recovery

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 $509.3 million in May 2022. For purposes of comparison, the month-on-month change of the recent months has been outlined to illustrate the disparities.

In May, Gain Capital saw an overall increase of $206,164 to $193.5 million, compared to $193.3 million at the end of April, or 0.11 percent higher month-over-month. Meanwhile, IG US reported a jump over last month's figure by nearly $3.6 million to $43 million at the end of May 2022, compared with $39.4 million in the previous month, which is up by 9.13 percent on a monthly basis.

In addition, Interactive Brokers saw an overall increase of $756,171 to $25.5 million, compared to $24.7 million in the month prior, reflecting a 3.06 percent increase month-over-month.

Furthermore, OANDA Corporation's client assets increased by $3.2 million, to $178 million, which is up 1.81 percent over a monthly basis. CHARLES SCHWAB also saw an increase of $5.4 million to $69.1 million, compared to $63.7 million in the month prior, reflecting a 8.5 percent jump month-over-month.

Gain Capital Lose in Market Share While CHARLES SCHWAB Gains

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

For the fall in retail forex obligation, GAIN Capital decreased 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 35 percent market share, while CHARLES SCHWAB retained the third rank with 14 percent, an increase of 1 percent compared to the last month. Interactive Brokers and IG US acquired 5 and 8 percent share respectively.