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Interactive Brokers Down to $56M Retail FX Funds 

Data from the US securities regulator for April shows that Interactive Brokers lost more than $16 million in retail forex funds. After consecutive advances in its market share, the Connecticut-based company was again the worst performer over the previous months. This was after recording an overall drop of nearly 50 percent on a yearly basis.

Interactive Brokers’ retail FX deposits went down to $56 million from $72 million the previous month. This was after the figure hit its peak at $103 million mark in June 2019.

Overall, the newest data shows a complete marginal change month-over-month from March. Even differences amongst each broker were not pronounced.

FX funds held at registered brokerages operating in the U.S. including FCMs are registered as Retail Foreign Exchange Dealers. Those included as broker-dealers came in at $553 million in April 2020. This is a marginal drop of one percent month-over-month compared with the $556 million reported in March 2020.

Interactive Brokers and its Peers Increased Retail Funds

Three brokers have notched increases in retail deposits.

GAIN Capital’s client’s deposits grew by $7.7 million, up nearly 4% month-over-month. Furthermore, retail deposits at OANDA also rose by nearly $1.8 million in April 2020.  IG US added $2.2 million, or 14 percent, within the same month.

Looking at the market share of different brokers, the distribution slightly changed in April relative to March. GAIN Capital, the most important FX broker within the U.S. remained the leader in terms of market share. It commanded a 39 percent share, unchanged from the prior month but lower from 46 percent in the 2019 ranking.

OANDA also maintained its stance because the second largest within the US. It came with 37 percent market share, up one percent over last month. Moreover, Interactive Brokers and TD Ameritrade retained 10 and 11 percent share, respectively.

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