OANDA Gains about $35m in Deposits from IBFX Deal in US: CFTC Data

OANDA has gained a substantial amount of client deposits from its deal with IBFX according to the latest batch of CFTC Futures Commission Merchants data. The brokerage gained about $35 million in client funds, gaining 37.5 per cent to a total of 94.8 million in retail 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 obligations in March. The figure is somewhat less than the $43 million total which clients of IBFX held at the brokerage as of the end of February.

The $35 million estimate is not exact, since there is no separate information about how did OANDA's numbers changed month-on-month excluding the effects of the acquisition of clients of IBFX.

The number of migrations is higher than was expected by Finance Magnates and counters the opinion that few clients of IBFX would migrate to OANDA in light of the absence of the TradeStation platform. OANDA itself is gearing up for the launch of a new Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term in the coming weeks. The second generation of the platform is likely to enable hedging for European and Australian clients of the company, and deliver a revamped and more powerful solution globally.

Looking at the total amount of retail forex obligations, the number has barely budged from February with a decline of 1.59 per cent to a total of $510.7 million.

OANDA is now firmly contesting with GAIN Capital for second spot as predicted by Finance Magnates earlier this week, when the February retail forex funds data was released. Looking at the top spots, FXCM has lost its gains made in February and shed 4.71 per cent. GAIN Capital has gained some new deposits, with the month end figure rising by 6.69 per cent.

New data has also become apparent for the funds held at Wedbush Securities. The company has turned out to be the custodian for trading accounts of clients of none other than TD Ameritrade. The funds have now been transferred to the accounts of TD Ameritrade and are displayed as such in the newest batch of data.

With GAIN Capital and OANDA clinching for second spot, TD Ameritrade and Interactive Brokers are the ones competing for fourth.