Retail trading at U.S. brokers picked up in January, with only Interactive Brokers\' currency deposits falling-News-SearchFx- the most authoritative information query platform for derivatives industry -searchfx.cc

Data from the Commodity Futures Trading Commission (CFTC) show that in January 2023, retail currency deposits at registered brokerages in the United States showed an overall increase.

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 and the latest addition, Trading.comMarkets.

According to CFTC data, the money deposit funds held by these six registered brokers reached $490.9 million in January 2023. Excluding Trading.com Markets, retail currency deposits at the other five brokers reached $489.9 million, a 1.75% month-on-month increase compared to the $481.5 million reported in December 2022.

The chart below summarizes all data for these six brokers over the last 12 months.

Interactive Brokers' retail currency deposits have fallen for four straight months

In January 2023, only Interactive Brokers saw a decline in retail currency deposits. While the company has declined for the fourth consecutive month, falling 5.06 percent this month to $23.4 million.

Retail forex deposits on Trading.com Markets rose the most this month, up 42% month-on-month to $996,012. IGUS increased $1,849,866 to $46.4 million, an increase of 4.15% sequentially.

Gain gained $6,499,541 to $190.9 million, an increase of 3.52% sequentially compared to $184.4 million in December 2022. CHARLES SCHWAB also increased 1.96 percent to $68.7 million, compared with $67.4 million in the prior month.

Anda increased by $12,705 to $160.48 million, compared to $160.46 million in the previous month, a slight increase of 0.01% from the previous month.

Gain Gain market share

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

Gain remained the market share leader with a 39% share, up 1% from the previous month.

The market share of the remaining brokers remained unchanged. Chubb gained 33% market share during the month, while IG US, Interactive Brokers and CHARLES SCHWAB gained 9%, 5% and 14% market share, respectively. Trading.com Markets is still at the bottom of the pack with less than 1 per cent of the market.