IG US Racks Up $20 Million in Retail FX Deposits

The number of deposits made by retail FX traders in the United States, which had cooled off over the past few months, grown slightly in May as the Corona-led Volatility Volatility In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, or stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Trad In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, or stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Trad Read this Term has seemingly heightened enthusiasm despite prolonged strict regulations.

According to the CFTC’s monthly report, the FX funds held at brokerages operating in the country, including FCMs that are registered as Retail Foreign Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term Dealers (RFEDs) and those included as broker-dealers, came in at $571 million. This figure is $15.6 million or three percent higher than the $556 million reported in April.

Meanwhile, the newest comer to the US FX industry, IG US, continues to take a bigger chunk of the overall retail funds, after racking up $20.8 million in customer deposits in May 2020. This figure is higher by 31 percent from the previous month and was also six times bigger than the $3.5 million it collected when the company re-launched its operations a year ago.

Elsewhere, GAIN Capital’s clients’ funds grew by $15.4 million, or nearly eight percent month-over-month. Further, retail deposits at TD Ameritrade also rose by nearly $2.6 million in May, while OANDA collected additional $5 million, or three percent, in clients’ deposits in the same month.

Looking at the market share of different brokers, distribution changed slightly in May relative to the month prior. GAIN Capital remained the leader in terms of market share, commanding a 39 percent share, virtually unchanged from April. OANDA also solidified its stance as the second largest in the US with 36 percent market share, while Interactive Brokers retained the third rank with 12 percent. TD Ameritrade and IG US acquired 11 and 4 percent share respectively.