Forex (FX) deposits of retail investors from the USA grew for the fourth month in a row, according to the latest data from the Commodity Futures Tradi
Forex (FX) deposits of retail investors from the USA grew for the fourth month in a row, according to the latest data from the Commodity Futures Trading Commission (CFTC). As per the statistics for March 2024, the total client deposits grew to over $549 million, gaining 1.3% compared to the results from February.
Fourth Month of Growth in Total Forex Retail Obligations in the USA
According to the CFTC data, the total value of FX deposits in the US amounted to $549,389,183 in March 2024, growing by over $7 million compared to $542,302,015 reported the previous month. This is the strongest value in over a year and the fourth consecutive increase in deposits since December when they recorded a local bottom.
The decline at that time was quite low, and apart from that, deposits have been growing since September 2023, when they hit bottom at the level of $516 million.
The leader of the ranking remains the broker Gain Capital, for which deposits amounted to $208.4 million after a modest decrease of 0.5% from the level of $209.4 million reported in February. Forex obligations also slightly slipped in the case of Charles Schwab, falling by less than $300,000 to the level of $62.4 million.
However, the remaining brokers included in the report recorded an increase in retail deposits. Trading.com recorded the strongest percentage increase, gaining 8.9% to $1.8 million. OANDA recorded the nominally largest increase, $4.2 million (2.3%), increasing deposits to $183.9 million. OANDA is currently the second-largest broker after Gain Capital regarding retail forex obligations.
CFTC Regulatory Reporting Requirements
The Commodity Futures Trading Commission mandates that Retail Foreign Exchange Dealers (RFEDs) and Futures Commission Merchants (FCMs) provide monthly financial status reports. These obligatory submissions must detail key financial metrics such as adjusted net capital, client assets, and total retail forex commitments. Retail forex commitments include all assets held by FCMs or RFEDs on behalf of their clients, adjusted for any gains or losses.
Among the 62 registered RFEDs and FCMs, notable entities like Charles Schwab, Gain Capital, IG, Interactive Brokers, OANDA, and Trading.com must disclose their financial commitments publicly.
A Finance Magnates report highlights that FCMs invest significantly in front-end technologies to boost operational efficiencies and maintain competitiveness in the tightly contested derivatives market.
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