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FOREX.com Shines amid US Retail Forex Brokers in August

The month of August saw FOREX.com, the brokerage subsidiary of GAIN Capital, stand out amid other Futures Commission Merchants (FCMs) which provide retail Forex services in the US in terms of client assets held.

 

According to data published on Friday by the Commodity Futures Trading Commission (CFTC), the retail funds with FOREX.com amounted to $109.3 million in August, a jump of massive $2.08 million against July levels. This increase was the biggest amid all FCMs which act as retail brokers and allowed the company to take the lead in an area which traditionally has not been its strongest – as you perhaps know, the stress in FOREX.com's business model is on the institutional segment. The CFTC data fit well with the operating metrics reported by the broker for August: the company enjoyed a steep 31% rise in retail OTC volumes year-on-year in the month, while retail customer accounts also staged an increase.

 

Another major US Forex broker which delivered solid performance in August in terms of retail client assets under its custody is FXCM. The company boasted total retail funds of $147.4 million, up by $1.4 million from July levels. 

 

Here is a more detailed view on the allocation of retail client funds among US FCMs in August:

 

FCM Data for August 2013

 

You can see that the data offer a beam of hope: the total amount of retail funds for August, at $628,955,531, is lower by meager $793,120 from the July result. The decline in month-on-month terms seems to be losing pace: you may recall that the drop was way more marked at $5.4 million in July. We may be seeing the end of hard times for US brokers – in fact, they could be adjusting to the tougher regulatory climate and recovering ground. What is also worth noting is that this improvement happens in August, a month during which Forex trading results are usually marred by what is labeled obscurely as a “summer slowdown”.

 

The picture, of course, continues to change – in August we still see the results of Alpari (US), but the company will soon be out of the list of retail US brokers as in September in transferred all of its MT4 accounts with retail clients to FXCM and all of its Currenex accounts with retail customers to FXDD. Obviously, the situation within the US retail Forex sector is dynamic and we'll continue to inform you about it.

 

 

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 to a diverse client base of retail and institutional investors.

 

GAIN's businesses include FOREX.com, which provides retail traders around the world access to a variety of global OTC financial markets, including forex, precious metals and CFDs on commodities and indices; GTX, a fully independent FX ECN for hedge funds and institutions; OEC, an innovative online futures broker; and GAIN Securities, Inc. (member FINRA/SIPC), a licensed U.S. broker-dealer.

 

GAIN Capital is headquartered in Bedminster, New Jersey, with a global presence across North America,Europe and the Asia Pacific regions.  For further company information, visit www.gaincapital.com.

 

 

TAGS: forex.com  forex.com forex broker  us forex broker  retail assets  retail funds  retail forex obligation  cftc  cftc fcm data  fcm data august 2013  fcm report  august 2013 

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