CFTC Releases Detailed Reports for November 2019
The IG Group opened their United Stated division in 2019, with profits soaring at incredible percentages. This has shocked analysts with IGUS being the latest operator for Retail FX Trading. November marked a significant leap forward for the IG Group, seeing customer trading at $16.28 million by months end. Percentage-wise, this was a 23% increase from October. It’s also 5x greater than the original trading valuations seen in June 2019, when they initially launched in America at $3.5 million. Subsequently, analysts are now anticipating that the start of this decade could mark substantial trading valuations and profits for IGUS. It should be noted that this exchange maintains an RFED with the CFTC.
These percentage valuations for trading were released after this exchange had continuously taken market shares for five months. They stole clientele from the Interactive Brokers Firm and TD Ameritrade, with client acquisition from Oanda and Gain Capital being more challenging. This is because those two firms maintain 3/4th of the overall market. It should be noted that the Retail FX market grows by 15% yearly, allowing for IGUS to continuously have the potential for new clientele. The IG Group – US Division, will now spend the next five years working on market share acquisition. Accomplishing the goal of acquiring the overwhelming market will be a challenging task, with many competitors along the line.
Overall Market Deposits
Multiple firms have provided their details reports since January 1st. Interactive Brokers provided insightful information, which noted that client deposits grew by $8.4 million over monthly rates at a 12% percentage. These results were positive for executives, who saw Interactive Brokers be the best performing firm in the last six months after the IG Group. Their monthly increase didn’t begin until November, which came after a substantial drop of 30%. Interactive Brokers lost market space to their direct competitor, TD Ameritrade. They saw a small boat in client acquisition and spending from October to November. The final firm that saw a marginal increase in client trading was Oanda, where their forex deposits increased to $2.8 million.
The latest reports from the CFTC indicate that the Forex Trading Market in America is beginning to alternate. People are beginning to change which exchanges they engage with, which is prompting spending amounts to be increased for investing purposes. Throughout October 2019, the overall market saw deposits at $634 million. That number jumped by $14 million in November 2019.