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Retail Funds of US Forex Brokers Fall at Lower Pace in Dec'2013

US Forex brokers kept losing retail client assets in December 2013, but the decline was less  steep compared with previous months, the latest set of data from the Commodity Futures Trading Commission (CFTC) have shown. According to the figures, released earlier today, the amount of retail client assets under custody of Futures Commission Merchants (FCMs) was $600,781,807 in December 2013, down by massive $7.8 million from levels seen in November 2013. And although there was a month-on-month decline of 1.3%, it was nearly three times lower than the drop of 3.8% recorded in November. 

 

For details about the performance of individual FX brokers, consider the table below.

 

Click on photo to enlarge

 

 

The bulk of the firms saw drop in retail client assets, with the firm recording the biggest decline in percentage terms being ILQ – it lost 11% of assets month-on-month. FXCM, GAIN Capital and OANDA also registered declines, but their size is marginal: for FXCM the drop is of meager 0.6%; for GAIN Capital is at 1%; and for OANDA the decline is at 2%. 

 

Moreover, some FCMs managed to overturn the drop in funds from November and recorded increases in December 2013. FXDD was amid the winners, registering a small rise of $258,074 in the amount of its retail client assets. Interactive Brokers,  the Greenwich-based Forex broker, managed to outperform all of its rival FCMs – the company recorded a month-on-month rise of massive 8% in retail client funds. Meanwhile, the company continues to thrive in respect of operating metrics: its January 2014 data show that the number of trades and accounts kept going up.

 

The overall picture for the fortunes of US FX brokers remains controversial, with the companies blocked under the burden of red tape and tightened regulatory demands. For that matter, let's note that the National Futures Association (NFA) has just officially announced extra financial reporting requirements for FCMs. New and more detailed reports are due in late March, with brokers obliged to report extra information ranging from more data about profitable clients to details about stress tests.

 

 

 

TAGS: us forex brokers  cftc  retail forex  retail clients  retail assets  retail client funds  futures commission merchants  fcms  fxcm  gain capital  interactive brokers  oanda  fxdd  december 2013  december 
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