IG US Reports 4,281 Trading Accounts
In the Q1 of 2020, IG US reported that it had 4,281 active and non-discretionary trading accounts.
The U.S operations of the IG Group has published information on the performance of non-discretionary retail forex accounts.
It reported that it had 4,281 active non-discretionary trading accounts. This was for the calendar quarter ending on the 31st of March 2020.
During the quarter, from this number, 25.69 percent were profitable and 74.31 percent were unprofitable.
The previous quarter was three months ending on the 31st of December 2019. The US operation of the Group had 2,650 active non-discretionary trading accounts. During this period in the previous quarter, 29 percent were profitable, and 71 percent unprofitable.
Looking at the above figures, during the first quarter of 2020, it achieved a growth of 61 percent. This was from the previous quarter in active non-discretionary trading accounts.
IG US FX Retail Market Soars
Reports said this growth was unmatched by other brokers within the United States. They will be publishing the full statistics in their upcoming Quarterly Intelligence Report later this month. They can already reveal that the total number of active accounts in Q1 of 2020 was 167,608.
This is the largest number of active non-discretionary retail FX customer accounts in the forex history of the U.S. This still holds even before the implementation of the Dodd-Frank Act. Currently, the accounts held by IG US are contributing to slightly more than 2.5 percent.
In the final quarter last year, the total number of active accounts was 153,434. With that, the US FX market has posted an increase of around 9.2 percent quarter-on-quarter.
IG US’ first operational quarter was the three months that ended on the 30th of June 2019. During this period, the firm had 1,228 active non-discretionary trading accounts. Of that figure, 29 per cent were profitable and 71 per cent unprofitable. The following quarter, there were 2,133 active non-discretionary trading.
Get the latest economy news, trading news, and Forex news on Finance Brokerage. Check out our comprehensive trading education and list of best Forex brokers list here. Subscribe now and receive FREE updates on the market today!