US Retail Forex client assets down while concentration increases in October


CFTC data for October show a continued decline in US retail forex client assets. Total assets held by regulated US FCMs on behalf of their clients came in at $605.8 million, 0.2% off September’s $607.0 million.

In our continued concentration-watch, the ‘Big Three’ in the US – FXCM, OANDA and GAIN Capital – accounted for more than 75% of the US market, slowly continuing that trend upward.

The US Retail Forex market clearly remains the world’s most concentrated, with US retail traders having little to no choice of broker or platform. By contrast, for example, we wrote earlier today about the Singapore forex market where the #1 provider, OANDA, has just 18% market share, with the Top-3 there well below 50%. That’s about the way it is everywhere in the world – except the US.

US Retail client assets Oct2014

In  terms of the long term trend:

US Retail client assets chart Oct 2014

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US Retail Forex client assets down while concentration increases in October

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