Interactive Brokers

CFTC Report Shows Interactive Broker’s 25% Rise in Forex Funds in February


The Commodity Futures Trading Commission (CFTC) has released data of retail FX deposits at US brokerages on Wednesday. The report also includes the data of FCMs that are registered as Retail Foreign Exchange Dealers (RFEDs) and broker-dealers.

In the month of February, retail FX deposits at US brokerages increased by over $23 million, with the total coming in at $590 million, up by 4 per cent from $568 million reported in the previous month.

FX firms like Interactive Brokers, OANDA Corporation and TD Ameritrade witnessed an increase in Retail Forex Obligations during the month, whereas GAIN Capital reported a minor decline in its client’s assets.

After registering consecutive fall in market share, Interactive Brokers emerged as the best performer of the month overtaking TD Ameritrade. The market share rose by $13.7 million to $68 million, from $54 million at the end of January or 25 per cent month-on-month increase. 

GAIN Capital’s client asset fell slightly by $106K to $248.2 million, which is marginal on the scale over a monthly basis. However, despite failing to gain much, the broker retained the title of largest FX broker in the United States, commanding a market share of 42 per cent.

Interactive Brokers, the largest US electronic brokerage firm, as measured by DARTs, surpassed TD Ameritrade as the US third largest holder of retail FX funds. Both the brokers have locked horns over the position number of times over recent months. 

On the other hand, OANDA has also strengthened its position as the second largest by market share in the US with a total of 36 per cent share.