It looks like there still might be hope for reviving the stagnant US retail forex trading sector.
US regulated retail forex brokers saw client assets rise 2% during the month of March to $579 million. As we reported earlier in LeapRate’s Retail FX Volume Index, currency trading globally picked up nicely in March as FX volatility and traders returned after January’s Swiss Franc crisis muted February volumes. It seems as if US traders joined the global trend in March and both traded and deposited more to their FX accounts.
Among the US industry leaders, FXCM Inc (NYSE:FXCM) at +3% and Gain Capital Holdings Inc (NYSE:GCAP) at +1% saw growth in client volumes, while OANDA saw a 4% drop.
The industry in the US remains highly concentrated, with the ‘Big Three’ aforementioned brokers accounting for 70% of market share.