CFTC Releases Data: Retail FX Deposits Drop 5.97% at Interactive Brokers in November 2021

The Commodity Futures Trading Commission (CFTC) has published its monthly report for November 2021, revealing a month-on-month rise of 0.88 percent in retail FX deposits compared with the $550.9 million reported in October 2021.

The report covers data for FCMs that are registered as Retail Foreign Exchange Dealers (RFEDs) and those included as broker-dealers that hold retail forex obligations in the United States, namely Gain Capital Group LLC, IG US LLC, Interactive Brokers LLC, Oanda Corporation and CHARLES SCHWAB Futures & Forex LLC.

Gain Capital and CHARLES SCHWAB Saw Increase on Amount of Retail Forex Obligation

The chart listed below summarizes all the data published this year. For purposes of comparison, the month-on-month change of the recent months has been outlined to illustrate the disparities.

According to the agency, the FX funds held at the five registered brokerages hit over $555 million in November 2021.

Two of the five brokers listed notched a fall in Retail Forex Obligations: IG US (-$990,349 or -2.7%) and Interactive Brokers (-$3,285,315 or -5.97%).

Gain Capital’s retail FX deposits grew by 2.63 percent from over $203 million in October 2021. Furthermore, Oanda's client funds showed a increase of $2.1 million or nearly 1.1 percent month-over-month while CHARLES SCHWAB increased 2.66 percent to $63 million in November.

IG US and Interactive Brokers Lose in Market Share

Looking at the market share of these five brokers, distribution changed slightly in November relative to the month prior.

For the fall in retail forex obligation, IG US and Interactive Brokers both decreased in market share of 1 percent. Gain Capital is still the leading one of 38 percent market share, an increase of 1 percent compared to the previous month.

The remaining two broker's market share kept unchanged. Oanda has the second largest market share of 35 percent while CHARLES SCHWAB has the third one of 11 percent.