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US forex deposits in May: FXCM retains leader position, Gain Capital outstrips Oanda

The US retail forex market slightly grew in May 2016 from the previous month in terms of client forex deposits, the latest futures commission merchants (FCMs) report of the US Commodity Futures Trading Commission (CFTC) indicated. The total retail client deposits of all forex brokers amounted to $516.2 million in May, which is an increase of 4.7% from a month earlier. The growth is insignificant, considering all five months since the beginning of the year the deposits value was less than 2015’s lowest monthly value of $544.1 million.

Forex Capital Markets, or FXCM, retained its position as the forex broker with the highest client deposits in May, outgrowing the market with a monthly increase of 8.1%. There was a tight competition for the second spot between Gain Capital, the operator of Forex.com, and Oanda. Gain Capital prevailed with a slight bit with a monthly growth of 3.6% to $130.5 million, compared to an increase of 2% to $129.8 million reported by Oanda. As a result, Gain Capital recovered its positions of second to largest after losing it to Oanda in the preceding month.

All three forex brokers posted an increase in client assets, both on a monthly and an annual basis. Over the month, FXCM saw the highest increase, while Oanda reported the highest growth of 14.8%, just 0.01 percentage point ahead of Gain Capital.

Following are details about the three brokers’ client deposits in May 2016:


  FX Deposits May '16

FX Deposits Apr '16

Change  MoM

FX Deposits May '15
Change  YoY

FXCM $182.1 $168.5 +8.1% $172.8 +5.4%
Gain Capital $130.5 $126.0 +3.6% $113.8 +14.7%
Oanda $129.8 $127.3 +2.0% $113.1 +14.8%
Total (all US brokers) $516.2 $493.2 +4.7% $568.8 -9.2%


Earlier this week, both FXCM and Gain Capital published their June trading volumes. Oanda does not provide such data. FXCM’s retail trading volume slightly went down by a monthly 2% to $275 billion in June, while Gain Capital posted an increase of 3.7% to $231.7 billion. Both brokers posted a double-digit drop on an annual basis.

They both performed better in the institutional segment, reporting significant growth on the month and over the year. FXCM’s trading volume from institutional clients was $57 billion and that of Gain Capital amounted to $212.3 billion.


  FXCM Gain Capital
June retail volume $275 billion $231.7 billion
M/M Change -2% +3.7%
Y/Y Change -24% -43.7%


TAGS: us  forex deposits  fxcm  gain capital  forex.com  oanda 
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