The market overall
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Overall, in the month which ended November 30, the U.S. forex market grew by 2%, as measured by customer funds on deposit at the 5 U.S. brokers.
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Four of the 5 U.S. brokers increased their customer funds on deposit, with only Gain Capital losing a tiny sliver of their customer funds.
Individual market shares
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Oanda improved their market share by 1%, pulling almost even with Gain, which was essentially flat for the month.
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Gain and Oanda, combined, now have 76% of the spot forex market in the U.S.
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Interactive Brokers improved their market share by 12%, pulling further ahead of TD Ameritrade in the “second tier”.
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IG Markets was the big one-month percentage gainer, improving their share of the forex market by 23% in the October-to-November period. IG is still tiny, compared to Gain and Oanda. As such, IG is sort of the lone entry in the “third tier” of this market. But, they are growing fast.
Here is a Finance Magnates graphic, showing the CFTC data for November, as compared to October —
(click the image to enlarge it)
And here’s a link to Finance Magnates’ article, posted today –