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Screenshot of a breaking news alert e-mail from Q2 2017
The latest CFTC data from US retail forex brokers is out for November from reports filed by December 26th. The data is showing a slight rise in assets held by US retail forex traders back to $523 million, a 0.65% rise from October’s $520 million (see chart above).
Continuing to lead the way was FXCM Inc (NASDAQ: FXCM), holding $178 million of client assets. Oanda, now holding the #2 position with $134 million, ahead of #3 Gain Capital Holdings Inc (NYSE: GCAP) and its Forex.com brand sitting at $129 million.
The industry consolidated more during the last year, as the SEC banned broker-dealers from operating as a retail foreign exchange dealer. The ruling left Interactive Brokers out of the US retail foreign exchange business, but IB still maintains its offering to qualified institutional investors. Furthermore, globally regulated brokerage house Phillip Capital was shut out of the industry because it also operates as broker-dealer, the ruling occurred right when the firm was to officially push forward and launch its retail FX trading offering in the US.