US Forex Leaders Gain Capital and OANDA Maintain Market Dominance in November 2023

<p>Retail
forex (FX) deposits for six brokers operating in the US recorded an almost
imperceptible decline in November, continuing to recover from September lows. </p><p>However, November’s
value of $518.2 billion is one of the lower figures recently. The most
significant nominal change was observed with Gain Capital, where deposited
capital grew by 2.8% monthly to $199.4 million.</p><p>US FX Deposits Flat in
November 202 </p><p>Under the
rules set by the Commodity Futures Trading Commission (CFTC), every Retail
Foreign Exchange Dealer (RFED) and Futures Commission Merchant (FCM) is
required to submit monthly reports on their financial status. These reports to
the <a href="https://www.financemagnates.com/terms/c/cftc/">CFTC</a> include details such as adjusted net capital, customer assets, and the
total of retail <a href="https://www.financemagnates.com/terms/f/forex/">forex</a> obligations.</p><p>Retail
forex obligations are the aggregate of funds an FCM or RFED holds. This
includes all cash, securities, and other assets deposited by retail forex
customers in one or more accounts, adjusted for both realized and unrealized
gains or losses. These data are reported with a delay, and in January, the
results for November were disclosed.</p><p>Among the
62 registered RFEDs and FCMs, only six engage in activities that require them
to publish data on obligations. These are Charles Schwab, Gain Capital, IG,
Interactive Brokers, OANDA, and Trading.com. </p><p>The total
value of deposits in November was $518.2 million, a slight decrease of just
$222,029 (0.04%) <a href="https://www.financemagnates.com/forex/retail-forex-deposits-in-us-experience-marginal-rise-to-5184-million/" target="_blank" rel="follow">compared to October</a>. However, this is still a few percentage
points better <a href="https://www.financemagnates.com/forex/us-forex-brokers-hit-a-snag-as-q3-closes-with-deposit-drop/" target="_blank" rel="follow">than in September</a>, when deposits fell to a mid-term low of $516
million.</p><p>Gain Capital and OANDA
Remain Top Players</p><p>As in
previous months, Gain Capital accumulated the most FX deposits, totaling
$199.43 million, growing by 2.8% compared to October. OANDA is second with
$165.4 million, which increased by $1.4 million (0.9%) on a monthly basis.</p><p>Charles
Schwab holds third place with $62.4 million, followed by IG with $56.7 million.
IG experienced one of the largest nominal monthly outflows, amounting to $3.8
million. The fifth position is held by Interactive Brokers, which saw a nearly
12% drop to $32.5 million.</p><p>The last
entity, Trading.com, holds the smallest pool of deposits at $1.3 million, which
is an increase of 13.9% compared to October.</p><p><a href="https://www.financemagnates.com/">Finance Magnates</a> independently examines trends among
retail investors. Using insights from CPattern, we present our indicators,
tracking historical changes in average deposits, withdrawals, and initial
deposits. <a href="https://www.financemagnates.com/forex/analysis/analysis-monthly-fxcfd-deposits-kept-growing-in-october/" target="_blank" rel="follow">The latest
study</a> highlighted
another month of growth. The average monthly deposit grew from $13,504
to $15,248.</p>

This article was written by Damian Chmiel at www.financemagnates.com.