US Forex Deposits Rise by $15m in March

The CFTC CFTC The 1974 Commodity Exchange Act (CEA) in the United States created the Commodity Futures Trading Commission (CFTC). The Commission protects and regulates market activities against manipulation, fraud, and abuse trade practices and promotes fairness in futures contracts. The CEA also included the Sad-Johnson Agreement, which defined the authority and responsibilities for the monitoring of financial contracts between the Commodity Futures Trading Commission and the Securities and Exchange Commiss The 1974 Commodity Exchange Act (CEA) in the United States created the Commodity Futures Trading Commission (CFTC). The Commission protects and regulates market activities against manipulation, fraud, and abuse trade practices and promotes fairness in futures contracts. The CEA also included the Sad-Johnson Agreement, which defined the authority and responsibilities for the monitoring of financial contracts between the Commodity Futures Trading Commission and the Securities and Exchange Commiss Read this Term's monthly data on deposits held at Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term brokers in the USA shows that the total increased by $15 million in March. The bump was spread equally among all brokers operating in the local market - GAIN Capital, Interactive Brokers, OANDA and TD Ameritrade.

OANDA led the way with almost $6 million more in client funds held at the brokers. GAIN Capital's customers added about $5 million, followed by Interactive Brokers' retail forex deposits rising by about $3.6 million. The remainder was added by customers of TD Ameritrade.

The month of March is the third consecutive month of increasing client funds with USA-operating retail forex brokers. The total amount parked at brokers rose by seven percent since the start of the year to $605 million.

US Market Getting More Interesting

With opportunities for regional diversification shrinking, some brokers have been looking more aggressively towards the US market. In February, IG Group announced that it is preparing to start its operations across the Atlantic.

The new entrant's data didn't make it into the CFTC's report for March. In the meantime, the UK-listed broker has been hard at work, signing an IB partnership with Forest Park FX.

The introducer's CEO Justin Hertzberg shared that the average expected client value in the US is close to $11,000. In the meantime, the company has also bolstered its UK team with the hire of Ed Anderson as UK Director.