The most recent monthly report released by theCommodity Futures Trading Commission(CFTC) reveals that retail FX deposits experienced a growth of 1.24 percent in August 2023when compared to the previous month

This report includes data collected from various registered Retail Foreign Exchange Dealers(RFEDs) and broker-dealers operating in the United States. 

Among the well-known companiesincluded in this data are Gain Capital Group LLC, IG US LLC, Interactive Brokers LLC, OANDACorporation, CHARLES SCHWAB Futures & Forex LLC, and Trading.com Markets

During August 2023, the combined total of FX funds held by these six registered brokeragesreached approximately $525 million, indicating a 1.24 percent increase compared to thereported amount of $518.5 million in July 2023. Notably, when excluding Trading.com Markets.the combined retail FX deposits of the remaining five established brokers amounted to $524million. 

The following chart provides a comprehensive overviewof the data from these sixbrokers in 2023

Registered Brokerages Witness Changes in FX Funds

Among the six brokers listed, there were notable changes in the Retail Forex Obligations ofthree companies during August 2023.IG US saw a significant increase of $5.2 million in itsRetail Forex Obligations, bringing the total to $73.8 million. 

This represents a 7.55 percent risecompared to the end of July 2023 when the total stood at $68.7 million.

Interactive Brokers experienced a $2.1 million increase in its retail FX deposits, reaching $33.6million from $31.5 million in July 2023, reflecting a 6.7 percent growth. OANDA witnessed amodest increase of $1.3 million, reaching $156.4 million compared to the previous month's$155.1 million, representing a 0.82 percent rise.

However, Gain Capital experienced a decline of $1.4 milion, bringing the total to $197.4 millionwhich equates to a 0.73 percent decrease from July 2023's total of $198.8 million. CHARLESSCHWAB's retail FX deposits also saw a decline of 1.04 percent, reaching $62.7 million fromthe previous month's S63.4 milion. 

Trading.com Markets witnessed a larger decline of 3.84percent, reaching $1.067 million.

Market Share Remained Stable in August 2023

In August 2023

the market share distribution among the listed brokers remained relativelystable compared to the previous month, with only one broker experiencing a notable change

G US emerged as the sole gainer, increasing its market share by 1 percent. Despite this shiftGain Capital maintained its position as the market share leader with 38 percent, demonstratingits strong presence in the industry.

OANDA secured the second-largest market share with 30 percent, showcasing its significantmarket influence. 

Following closely behind are IG US and CHARLES SCHWAB, each holding14 percent and 12 percent market share, respectively

nteractive Brokers captured 6 percent of the market share, solidifying its standing among thebrokers. On the other hand, Trading.com Markets continued to hold a minimal market share.remaining at the bottom with less than 1 percent.