CFTC data from US retail forex brokers is out for July showing a slight increase overall of 0.94%. Moreover, this report should be the last report before Interactive Brokers is removed from the retail FCM list. Like promising new entrant to the U.S. FX trading market Phillips Capital, whose NFA/CFTC Retail FX license became null after a ruling stating companies holding dual licenses as Broker-dealers and FCMs cannot service FX traders, Interactive Brokers informed clients last month that retail FX traders will no longer be serviced due to the same rules.
Overall, forex assets ticked up 0.94% to $510,516,952 million in July from $505,772,954 million in June… these last three months hitting over $500 consecutively after April saw the industry total fall below $500 million to $493 million for the first time in several years. The year-over-year comparison shows July 2015’s $578 million in assets were 11% higher over this year.
Each of the largest retail forex brokers in the US – FXCM Inc (NYSE:FXCM), Gain Capital Holdings Inc (NYSE:GCAP) and its Forex.com brand, and Oanda remain in firm control of market share within the U.S with TD Ameritrade now bringing up the rear. TD holds their FX trading division under TD Ameritrade Futures & Forex LLC, a different registered company then the SEC registered TD Ameritrade, Inc., member FINRA/SIPC, time remains to be seen if the dual license clause will apply in this case.
July US retail forex client assets, and the comparison to June 2016, break down as follows:
