FCM October Data Shows Uptake in Retail FX Funds

Friday, 13/12/2013 | 23:59 GMT by Adil Siddiqui

FX brokers regulated under the Commodity Futures Trading Commission have reported their monthly financial data for October. Overall funds were up $10.4 million with 50% of brokers witnessing an increase in Retail Forex funds.

FCM October Data Shows Uptake in Retail FX Funds

The US Commodity Futures Trading Commission (CFTC) has reported financial data for regulated Futures Commission Merchants (FCMs) in the United States for the month of October, according to information released on the regulatory agency's website today.

Data for FCMs who are Retail Foreign Exchange Dealers (RFED) shows that out of the ten brokers five had increased retail Forex funds held from a month earlier. Total retail FX funds were up $10.4 million, 1.67% from figures posted in September.

The total funds held by brokers was $632,653,149, of the ten brokers reporting data, half saw an uptake in funds and half saw declining amounts. Last time Forex Magnates reported FCM data for RFEDs in November, there had been eleven reporting dealers for the month of September, and following Alpari's change in business strategy the number has now been reduced to ten as Alpari's withdrawal of its RFED status on October 31, 2013, followed according to information updated on the NFA's website.

In October, GAIN Capital saw the highest increase in monetary value of held Retail Forex Funds with over $5 million of additional funds, this was followed by FXCM whose clients' deposits stood at an additional $4.1 million over September. Brokers on the decreasing end all saw declines of less than $1 million, with the largest drop experienced by Interactive Brokers at $-924,342.