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Forex.com Maintains Its Spot in Top 5 of US Retail Brokers

The US retail traders profitability report for the first quarter of the year is out and we can hear the market sigh in relief that things are really picking up. Out of the 11 brokers still remaining on the market after the exit of FX Sol and GFT at the end of 2012, only two have lost accounts, and three brokers' customers are slightly more profitable than during the previous quarter. 

 
The total number of registered US retail accounts has reached 99,207 with the following brokers in the five leading spots: 
1. Oanda (22,121 accounts);
2. FXCM (21,775 accounts);
3. Interactive Brokers (19,666 accounts);
4. Forex.com (12,384 accounts); and
5. IBFX (9,792 accounts).
 
Here is the full report: 
 
Gain Capital's Forex.com is one of the two brokers recording the biggest growth in account numbers – 1,818 or 17.2% compared to the previous quarter. This is not surprising, keeping in mind that precisely Forex.com was the company to get its hands on GFT's and FXSol's client bases after the two brokerages withdrew from the American market. In February, the broker reported a 0.2% decrease in the amount of customer assets kept with it, and got us a tiny bit worried, but apparently things are good there and there is no reason to be concerned – unless you're FXCM, of course. If you have been following the forex industry developments, you know that at the beginning of the month FXCM offered to buy out Forex.com, and the later stroke back putting into effect a Shareholder Rights Plan, possibly hoping to get more money out of the deal – if the deal even takes place. 
 
The other broker that recorded growth in account numbers was Interactive Brokers – in Q1 of 2013  the broker held 17.7% more accounts than in Q4 of the previous year. While this sounds quite promising, we should not forget that the February data about the company wasn't good at all, showing a 22% decrease in customer assets held with the broker. Together with the increase in the number of accounts registered with the broker leads me to believe that the average account size has dropped significantly. 
 
 

About GAIN Capital

 
GAIN Capital Holdings, Inc. (NYSE: GCAP) is a global provider of online trading services. GAIN's innovative trading technology provides market access and highly automated trade execution services across multiple asset classes, including foreign exchange (forex or FX), contracts for difference (CFDs) and exchange-based products, to a diverse client base of retail and institutional investors.
 
Through our retail brand, FOREX.com, we provide retail traders around the world with access to a variety of global OTC financial markets, including forex, precious metals and CFDs on commodities and indices.  GAIN Capital also operates GTX, a fully independent FX ECN for hedge funds and institutions; Open eCry (OEC), an innovative online futures broker; and GAIN Securities, Inc. (member FINRA/SIPC) a licensed U.S. Broker-dealer.
 
GAIN Capital and its affiliates have offices in New York City; Bedminster, New Jersey; London; Sydney; Hong Kong; Tokyo; Singapore; Beijing; and Seoul.
 
TAGS: Forex.com  US retail forex  forex profitability  Interactive Brokers  Oanda  FXCM 

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