CFTC data from US retail forex brokers is out for April, showing yet another decline in assets held by US retail forex traders to their lowest levels in years.
The industry shed another few million dollars in client assets during the month, down to $493 million at the end of April, from $511 million in March.
Continuing to lead the pack was FXCM Inc (NYSE:FXCM), holding $168.5 million of client assets, or about 34% of the total. Oanda leapfrogged into the #2 position with $127.3 million, ahead of now #3 Gain Capital Holdings Inc (NYSE:GCAP) and its Forex.com brand sitting at $126.0 million.
The top three providers of retail forex trading in the US market now account for 86% of the industry total – meaning that US retail forex traders have less choice than traders almost anywhere else. Heavy handed government regulations meant to protect US traders have apparently had the opposite effect, with the lack of competition clearly hurting US traders.
