US retail forex customer deposits declined to 462 million dollars in June, marking the lowest level since at least September 2023 according to CFTC filings. The figure represents a third consecutive monthly drop, with the sector shedding over 26 million dollars since March and erasing gains reported during the first quarter recovery.
OANDA recorded its lowest balance in the dataset at nearly 133 million dollars, down over two percent month-on-month and almost four percent year-on-year. Charles Schwab’s forex division also hit a series low at 54 million dollars following three months of declines. Gain Capital, operating Forex.com under StoneX ownership, commands the largest market share at nearly forty-three percent with 197 million dollars in client funds, though this represents its weakest position since October 2023.
The three dominant players now control just over eighty-three percent of the US retail forex market, a slight decrease from the previous year. All six CFTC-registered brokers ended June with reduced client balances compared to March.
Only Trading.com and tastyfx showed year-on-year growth. The IG Group brand tastyfx benefited from Prime accounts launched in September offering up to six percent returns on uninvested cash, lifting deposits nearly twenty-four percent annually despite monthly losses.
The persistent contraction highlights ongoing challenges for NFA-regulated forex brokers competing against offshore alternatives and reflects broader retail trading volume trends affecting the US market.
FXnCO Insight
CFTC-regulated brokers must innovate beyond traditional spreads-only models, as tastyfx’s interest-bearing accounts demonstrate that competitive deposit yields can drive client retention even amid sector-wide outflows.
Source: Finance Magnates