Retail Forex Deposits in US Experience Marginal Rise to $518 Million

<p>Retail
forex (FX) deposits of six brokers operating in the U.S. saw a modest
increase in October, rebounding from a September low. However, the total of
$518.4 million remained among the lower figures in recent months. This update
comes from the latest data published by the Commodity Futures Trading
Commission (CFTC), which showed a rise of 0.4% from $516.3 million.</p><p>US FX Deposits Rebound in
October 2023</p><p>According
to CFTC regulations, each Retail Foreign Exchange Dealer (RFED) and Futures
Commission Merchant (<a href="https://www.financemagnates.com/tag/fcm/" target="_blank" rel="follow">FCM</a>) must report their financial positions monthly to the
CFTC, including adjusted net capital, customer assets, and total retail
forex obligations. </p><p>Retail
forex obligations represent the total funds an FCM or RFED holds, comprising
all money, securities, and property deposited by a retail <a href="https://www.financemagnates.com/terms/f/forex/">forex</a> client across
one or more retail forex accounts, adjusted for realized and unrealized net
profit or loss.</p><p>Among the
62 registered FCMs and RFEDs, six firms disclosed data on <a href="https://www.financemagnates.com/terms/o/obligations/">obligations</a>. As
usual, Gain Capital held the largest position, with deposits valued at $193.8
million. OANDA followed with $164.41 million, and Charles Schwab was third with
$62.23 million. Others in order included I.G. U.S. ($60.52 million),
Interactive Brokers ($36.3 million), and Trading.com ($1.1 million).</p><p>The outcome
was an improvement <a href="https://www.financemagnates.com/forex/us-forex-brokers-hit-a-snag-as-q3-closes-with-deposit-drop/" target="_blank" rel="follow">not only month-over-month</a> but also year-over-year. In
October 2022, the total deposits for brokers were $504.1 million, marking an
increase of nearly 3%.</p><p>Trading.com Sees Largest
Growth</p><p>While the
market share remained largely unchanged for most retail brokers, Trading.com,
the smallest player in the list, saw a significant increase of 11% in deposits
from $1.02 million reported the previous month. </p><p>The largest
player, Gain Capital, experienced a decrease of 1% in deposits, shrinking by
nearly $2 million. Charles Schwab also reported a similar loss. I.G. U.S.'s
figures remained unchanged, and Interactive Brokers increased their deposits by
1%. In the same period, OANDA's deposits grew by 2% from $160.1 million
reported in September.</p><p><a href="https://www.financemagnates.com/" target="_blank" rel="follow">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-retail-fxcfd-investors-with-record-deposits/" target="_blank" rel="follow">The latest study</a> highlighted a peak in
deposit activity in September and an increase in the average single deposit to
$2,135 from $1,855 in August.</p>

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