Oanda is overtaking Gain Capital in terms of client deposits

Oanda is overtaking Gain Capital in terms of client deposits

Oanda, the third-largest forex broker in the US is continuing upward trend and is overtaking the second-largest – Gain Capital – in terms of client deposits, shows the March data published by the US Commodity Futures Trading Commission (CFTC).

According to it, Oanda’s client deposits in March rose 37.5% over the month to reach $130,363,278, while those of Gain Capital’s clients amounted to $137,342,681, up 6.7% from February. FXCM remains the undisputed number one in the ranking with $168,242,531, but has recorded a 4.7% drop.

The success of Oanda is most likely thanks to the acquisition of the US and Australian clients Monex Group’s sub-unit IBFX, which exits the retail forex market and has reported client deposits of barely $171,675 – 99.6% less than in February when it had $43,118,441.

At the same time, the newcomer TD Ameritrade Futures & Forex LLC, which obtained its forex dealer membership approved by the US National Futures Association (NFA) in February 2016, has reported $38,164,158 in client deposits.

The fifth in the ranking of client deposits in March 2016 – Interactive Brokers – reported a 3.7% increase over the month and a sum totaling $36,429,818. In comparison with March 2015, however, the broker posts the most significant decrease after IBFX – 32.1%.

Wedbush Securities Inc. did not report data on its March client deposits. In February it had $40,598,869.

Overall, in March 2016 the six US active forex brokers had a total of $510,714,141 in client deposits, 1.6% less than in February and 11.8% less than in March last year.

Top Forex Brokers

Broker Country Rating Min. Deposit Website
US 5/5 $50 Click for a special offerWebsite
Australia 4.90/5 $100 Click for a special offerWebsite

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