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  • US Retail Forex assets drop 2% in June as industry consolidates


    CFTC data from US retail forex brokers is out for June, showing a drop across-the-board besides a slight tick up from TD Ameritrade. Moreover, this report completes the removal of Phillips Capital from the USA FCM list, as their NFA/CFTC Retail FX license became null after a ruling stating companies holding dual licenses as Broker-dealers and FCMs cannot service FX traders.

    Overall, forex assets dipped  2% to $505.7 million in June from $516.2 million in May… these last two months hitting over $500 consecutively after April saw the industry total fall below $500 million for the first time in several years. The year-over-year comparison shows June 2015’s $561 million in assets were 9.9% higher over this year.

    Each of the largest retail forex brokers in the US – FXCM Inc (NYSE:FXCM), Gain Capital Holdings Inc (NYSE:GCAP) and its Forex.com brand, and Oanda remain in firm control of market share within the U.S with Interactive Brokers catering to a higher net worth clientele used to trading multiple assets, but firmly carving out their niche.

    As noted in the previous report, the top three providers of retail forex trading in the US market now account for 86% of the industry total – meaning that US retail forex traders have less choice than traders almost anywhere else. Heavy handed government regulations meant to protect US traders have apparently had the opposite effect, with the lack of competition clearly hurting US traders.

    It might be some time before we get a new entrant into the market, but it would be tremendously welcome to those stateside.

    US retail forex client assets, and the comparison to May 2016, break down as follows:


    GAIN Capital keeps a slight lead for the #2 spot over OANDA. OANDA had got a boost in client assets during the last couple months after absorbing TradeStation Forex accounts.

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    • Peace Mon

      Send an e-mail to the SEC about this.


      Here is the bureaucratic garbage they need to understand what we are talking about:

      17 CFR Part 240 RIN 3235-AL19

      [Release No. 34-77874; File No. S7-30-11]

      Retail Foreign Exchange Transactions

      I highly recommend if you do contact them to be POLITE. Do not be angry
      or a jerk about things. That will probably not do you any good. Probably
      best to consider you are speaking to a police officer. I was always
      told to say, “Yes, sir,” and stuff like that to a policeman and treat
      them with intense respect. I did not go that far here with the SEC, but I
      tried to be very polite and humble. It can go a long way!!


    US Retail Forex assets drop 2% in June as industry consolidates


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