Interactive Brokers Loses $ 6 Million in Retail Foreign Exchange Deposits
The Commodity Futures Trading Commission (CFTC) has released its monthly report scheduled for July 2021, which covers data from FCMs that are registered as retail currency brokers (RFEDs) and those included as brokers who hold bonds of retail exchange in the United States. .
The latest data shows a negative total month-to-month change from June, although the differences between each broker were more pronounced. With no major changes of late, the sector is gearing up for a moderate entry into the third quarter.
Overall, foreign exchange funds held by registered brokerage firms operating in the United States amounted to $ 550 million in July 2021, which is lower than the $ 552 million reported in June.
Four of the five listed foreign exchange firms recorded noticeable increases in their respective retail foreign exchange obligations. The best performer was IG US, which saw its client assets increase by $ 1.16 million, or nearly 3% month over month.
The London-based US subsidiary of the spread continues to take a larger share of overall retail funds, having accumulated $ 35 million in customer deposits in July 2021. This had broadened IG US’s market share at 7% as the fifth largest holder of retail foreign exchange funds.
Meanwhile, GAIN Capital’s client assets grew by $ 1.3 million, to reach $ 208 million, an increase of 1% on a monthly basis.
The worst performing of the month, and indeed the only loser, was Interactive Brokers, which posted an overall decline of $ 6 million to $ 47 million, from $ 54 million at the end of June, or 12% less than month to month.
Additionally, Nebraska-based TD Ameritrade reported a slight increase from last month’s figure of nearly $ 172,000 to $ 61 million at the end of July 2021.
Additionally, OANDA Corporation posted an overall increase of $ 2.7 million to $ 194 million, from $ 191 million in the previous month, reflecting a 1% month-over-month decline.
Looking at the market share of the different brokers, the distribution showed a marginal change in July compared to the previous month. GAIN Capital remains the main player in the United States with a 38.0 percent share. OANDA also consolidated its position as the second largest in the United States with a market share of 35.0% – TD Ameritrade and Interactive Brokers retain 11.0% and 9.0% shares respectively.
The chart below shows the full list of all FCMs that held retail foreign exchange bonds during the month ending July 31, 2021 – for comparison purposes the numbers have been included compared to their June counterparts. to illustrate the disparities.