The CFTC says that the brokers in the forex realm had a great increase in funding in the last period. After August, deposits increased to $525 million for certain companies. This was an increase of 1.2% over the month from their previous figure of over $518 million in August itself. The month was positive for 6 of the best forex traders, in terms of deposits at least.
It seems that forex traders are getting more active.
The figure we are talking about is the retail forex obligations of these companies. This then represents the total amount a forex dealer collects in terms of securities, money, and properties that customers deposit into managed forex accounts. We can then adjust this figure for the net profits or losses of a broker.
The 6 companies we are talking about are the only ones to release figures on their forex obligations. All of them seem to be on the up. This includes Trading.com, IG US, Gain Capital, Charles Schwab, Interactive Brokers and OANDA Corporation. The largest of these is Gain Capital, handling $194 million in deposits.
These best forex traders have roughly the same market shares they had in August. Gain Capital is at the top of the pile, with 40.0% of the market share. Next comes OANDA, with a 30.0% share.
Other investigations have also found that forex trading is on the up. Using certain broker data, we can see the average number of deposits, withdrawals, and first-time deposits in the sector for forex patterns. If we look at the data from May 2023, we see that there were the highest number of deposits in the year leading up to that time.
The main indicators may be slightly lower than this period, but they are still at their highest level in 5 months in terms of deposits. However, when it comes to withdrawals, the figures were at their highest levels in 12 months.
