Total retail client deposits of US forex brokers post 10.7% monthly drop in April

Total retail client deposits of US forex brokers post 10.7% monthly drop in April

The total retail client deposits of the US forex brokers posted a 10.7% drop in April and fell below the $500 million mark, to $493,239,575, shows the monthly report of the US Commodity Futures Trading Commission (CFTC). Compared to April 2015, the total retail forex obligations posted a 12.3% decrease.

An expected development is that Oanda Corp., which had started overtaking Gain Capital in March, managed to surpass it and took the second position.

With its $127,263,901 Oanda is still far behind the first on the list – FXCM, which in April had retail client deposits totaling $168,524,258 and is the only US forex broker to report a monthly increase in those terms, however of barely 0.2%.

The biggest loser among the still active US forex brokers is Gain Capital, which reported a drop of 8.2% in client deposits, to $126,048,571. Compared to April last year, however, Gain Capital is one of the two forex brokers, besides Oanda, to report a positive development of 13.4%.

Compared in percentages, Gain Capital’s client deposit drop, is followed by Interactive Brokers, which reported a decrease of 8%. Overall IB ranks fifth with the $33,507,509 its clients have in deposits.

The relatively new player – TD Ameritrade Futures&Forex, which obtained its forex dealer membership approved by the US National Futures Association (NFA) in February 2016, has reported a 0.7% drop in client deposits. But it still ranks fourth with $37,895,336.

The other four US forex brokers – Wedbush Securities, RJ Obrien Associates. MB Trading Futures and IBFX, which recently fell from grace with the US regulators, do not hold any client deposits.

Top Forex Brokers

Broker Country Rating Min. Deposit Website
US 5/5 $50 Click for a special offerWebsite
Cyprus, Australia 4.97/5 $100 Click for a special offerWebsite
UK, Cyprus, Belize 4.95/5 $5 Click for a special offerWebsite
Australia 4.90/5 $100 Click for a special offerWebsite

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