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Interactive Brokers and retail forex

Interactive Brokers LLC is a brokerage firm. Its headquarters are in Greenwich, in the State of Connecticut. At the moment, Interactive Brokers is the largest brokerage company in the U.S. This Connecticut-based company offers a wide variety of services. For example, clients can choose from forex, futures, stocks, etc.

The roots of the Interactive Brokers dates back to 1978. An immigrant from Hungary Thomas Peterffy founded this company more than 40 years ago. The total number of clients exceeds 600,000, and it offers its service worldwide. It means that clients can take part in this business not only from the U.S. but other countries as well.

It is worth mentioning that the firm is listed NASDAQ. Moreover, it follows the regulations of the U.S. Securities and Exchange Commission. The Financial Industry Regulatory Authority and others.  This show that the company cares about its clients.

CFTC and retail forex deposits

The U.S. Commodity Futures Trading Commission released the monthly report. This agency dates back to 1974 and is part of the U.S. government. According to this report, Interactive Brokers faced severe problems. The firm lost nearly $70 million in retail forex deposits. In May and June, a number of deposits rose by 30%.

This is a severe issue for Interactive Brokers. It means that lost more than 67% of its clients’ deposits. However, this problem is not connected with this company, as other companies also experienced the same issue. Based on the CFTC monthly report, the number of deposits made by retail FX traders decreased in July. The reason is that stricter regulations and summer’s low volatility affected the market.

Only one of the four FX firms listed on the stock exchange managed to overcome the problems, and this firm is TD Ameritrade. Its retail forex obligations increased, and this helped the firm.

GAIN Capital is still the leader when it comes to market share. It is important to mention that it’s market share is 46%. The second biggest firm is OANDA, with 36%. On the third place is TD Ameritrade with 12% and fourth place is Interactive Brokers with 6%.

 

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