Interactive Brokers Retail Forex Deposits up by 30%
The United States Securities & Exchange Commission motioned that Interactive Brokers has increased their retail forex deposits by $8 Million in June 2019. After months of a considerable drop in market share, the trading firm from Connecticut saw a dramatic rise of overall trading by 30%.
Interactive Brokers has managed to rebound from their decline, regaining their losses since February. Recently, their revenues surpassed rival TD Ameritrade, and they now stand as the largest electronic brokerage firm in the United States. This isn’t the first time that the two companies have switched ranking, as they continually fight for dominance regularly. Overall, this report indicates that trading in the USA is returning to normal. It’s estimated that the decline was prompted by Donald Trump’s comments on Forex & Crypto trading.
The amount of FX Funds held by brokerages in the United States came out to be $648 Million. This is an increase of 2% in comparison to last months total funds of $634.9 Million. These funds don’t just include Forex but also include FCMs and RFED’s. It’s estimated that TD Ameritrade and Interactive Brokers maintain more than 50% of the total funds in the USA. Gain Capital & Oanda are ranked 3rd and 4th, respectively, in trading revenue. Both firms also saw a slight increase in trading in June.
Gain Capital & Oanda
As mentioned above, both firms saw an increase in revenue. Gain Capital saw funds rise by $4.8 Million, and Oanda had trading revenues increase by $348,000.00. This is substantially small in comparison to the $1.3 earned by TD Ameritrade, Interactive Brokers or Gain Capital
The distribution of market share changed for Gain Capital in June as well. In 2018, the company held 46% of the market share. Today they only hold 39.6% of the market share, with their shares being lost to both Interactive Brokers and TD Ameritrade. This has allowed for the two firms to reach 16% and 10% of the market shares respectively. Oanda continues to hold the same market share valuation from January to May at 35%.
These market share indicators show that both Interactive Brokers and TD Ameritrade are growing in the US Forex Marketspace. In the next few years, there’s a chance that these two firms could outpace Gain Capital &Oanda with market shares, not just trading valuations.