LeapRate's Daily Forex Industry Newsletter
Join now to receive first access to our EXCLUSIVE reports and updates.
Screenshot of a breaking news alert e-mail from Q2 2017
After hitting rock bottom in April with a multi-year low reported in client assets, US retail forex brokers recovered somewhat in May to post a 1% overall increase in assets held to just a shade under $600 million.
US forex sector leader FXCM increased its lead over rivals Gain Capital (Forex.com) and Oanda, formally absorbing the approximately $27 million in US client assets it purchased from FXDD, although both Oanda and Gain posted healthy 3% gains in the month. And once again, it was a case of the big getting bigger, while client attrition continues at the smaller US brokers, as the chart below demonstrates.
We believe it won’t be long before some of the (few remaining) smaller US retail FX brokers also abandon the market, leaving just a handful of regulated forex brokers from which US traders can choose.