The U.S. Commodity Futures Trading Commission (CFTC) has released its monthly report for February 2023, showing that retail currency deposits at U.S. registered brokers increased by 2.75% compared to the previous month.

The data covers all CFTC registered brokers (FCMs), also known as Retail Transaction Transaction Brokers (RFEDs), and broker-dealers with retail money deposits in the United States, which are six companies: Gain Capital, IG US, Interactive Brokers, OANDA, CHARLES SCHWAB, Trading.com Markets.

According to the CFTC, money funds held by these six registered brokers reached more than $504.4 million in February 2023, a 2.75 percent monthly increase compared to the $490.9 million reported in January 2023. Excluding Trading.com Markets, the other five brokers' retail currency deposits reached $503.5 million. The chart listed below summarizes all the data for six brokers over the last 12 months.

Only Trading.com Markets saw retail currency deposits fall

Only Trading.com Markets saw a decline in retail currency deposits in February 2023, falling to $961,117 from $996,012 the previous month, a 3.5% month-on-month decline.

IG US saw the most growth in retail currency deposits in February, growing to $53.1 million from $46.4 million the previous month, up 14.5 percent month-on-month.

In addition, Interactive Brokers' retail currency deposits rose 9.4 percent to $25.6 million in February after four consecutive months of decline. CHARLES SCHWAB also saw a 2.33 percent increase to $70.3 million, compared to $68.7 million in the prior month.

Anda increased $1.87 million to $162.4 million, compared to $160.5 million in the prior month, an increase of 1.17% sequentially. Gain gained $1.14 million to $192.1 million, compared to $191 million at the end of January 2023, or 0.6% sequentially.

The market share of IG US increased, while the market share of Gain and Anda decreased

Looking at the market share of these brokers, the distribution in February 2023 changed slightly relative to the previous month.

IG US increased its market share by 2% and now stands at 11%. Gain remained the market share leader with a 38% share, 1% lower than last month. Chubb's market share also fell by 1% and now stands at 32%.

The market share of the remaining brokers remained unchanged. Interactive Brokers and CHARLES SCHWAB held 5 percent and 14 percent of the market this month, respectively, while Trading.com Markets remained less than 1 percent.