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FXCM Still at the Top amid US Retail Forex Brokers in Feb'2014

There is a reason for a company bearing the title of the top retail Forex broker and FXCM has proven one more time that it deserves it. At least this is suggested by the latest report by the Commodity Futures Trading Commission (CFTC) on the retail client assets under custody of futures commission merchants (FCMs) in the United States. The data for February 2014 was finally out today and you can see details on the performance of the handful of FCMs that are also registered as retail brokers in the US.

 

Click on photo to enlarge

 

You can see that FXCM remains the number one Forex broker in terms of quantity of retail client assets under its custody. In February, FXCM held retail funds of massive $164.03 million, which is 1% higher than in January 2014. And although many note that retail trading volumes at the broker have been falling, as the recent data has shown, we see that the company still boasts the best reputation amid retail FX traders. Because the amount of assets entrusted is a measure of trust and credibility. 

 

And as we have started to praise the best performers in the list, we cannot skip Interactive Brokers. The company has just reported a solid set of financial metrics for the first quarter of 2014 and now it can proudly tell the world that the sum of retail client assets it holds rose by 7% month-on-month in February to $39.6 million. 

 

You may be wondering why we didn't start the article with an overall assessment of the retail funds of US Forex brokers. The answer is simple – because of Institutional Liquidity LLC (ILQ) and the confusing January 2014 readings. Back then the stats showed that the broker had no retail assets under it custody, which was weird given that in December 2013 the company boasted some $20 million in such assets. The latest data show retail assets of more than $9 million for ILQ. You should be getting my idea – the overall data is deformed due to this reading. But in case you believe that the data was accurate despite its weirdness, then you can conclude that the total retail assets under custody of US retail Forex brokers grew by some $8 million in February 2014.

 

Since we've mentioned ILQ, we cannot set aside the fact that it's leaving the US retail market and that the liquidation of its clients' trades happens today. The US business will be transferred to Advantage Futures, while ILQ will focus on its overseas operations. This way, the list of US retail Forex brokers continues to shorten.

 

 

About FXCM Inc.

 

FXCM Inc. (NYSE:FXCM) is a global online provider of foreign exchange (forex) trading and related services to retail and institutional customers world-wide. At the heart of FXCM's client offering is No Dealing Desk forex trading. Clients benefit from FXCM's large network of forex liquidity providers enabling FXCM to offer competitive spreads on major currency pairs. Clients have the advantage of mobile trading, one-click order execution and trading from real-time charts. FXCM's U.K. subsidiary, Forex Capital Markets Limited, also offers CFD products with no re-quote trading and allows clients to trade oil, gold, silver and stock indices along with forex on one platform. In addition, FXCM offers educational courses on forex trading and provides free news and market research through DailyFX.com.

 

TAGS: fxcm  fxcm forex broker  us forex broker  retail forex broker  futures commission merchants  fcm  cftc  february 2014  2014  february  retail assets  retail clients  retail forex  forex capital us forex market  interactive brokers  ilq 

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