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.

Karthik Subramanian

Karthik Subramanian has been a professional trader and fund manager over the last 18 years. He is basically a software developer who made the transition to financial domain around 18 years back as the attractiveness of the financial markets proved too much for him. He lives in Chennai in India along with his wife and son. He began his career as a software developer in 1999 and then gradually moved into the financial industry as he began trading stocks in his pastime. He then moved into the financial markets full time and then shifted his focus to the FX markets due to the liquid nature of these markets. Since then, he has been trading FX diligently and his favourite pair are the EURUSD and EURJPY. Over the last couple of years, he has found blockchain to be of high interest and considering his background in software and finance, he has since assembled a team of highly talented developers who have since worked on a variety of projects like crypto exchanges and blockchain architecturing. Now, he balances his time between trading and commenting on both the FX and crypto markets. He has worked with many publications including FX Street and Finance Magnates, which has helped him gain experience and also recognition across the industry. He loves to write and this passion has helped him to reach out across the FX and crypto industry. Right now, he works on his pet projects in the FX and crypto industry and spends his time writing and managing his blockchain team and helping it to reach higher.