The latest monthly metrics from the Commodity Futures Trading Commission (CFTC) in the US suggest that London-based IG Group is gaining ground on some of its US competitors, at least in terms of customer deposits. The regulator reported that IG US’s deposits increased 13% month over month in September for a total of $21.7 million.
While big and established US brokers like OANDA and GAIN Capital continue to dominate the market share, IG US has managed to grow their deposits more than all of the other brokers combined in September, since only 11% growth was achieved by other major players.
Interactive Brokers, which just released their latest trading update, actually experienced a drop of 1% in retail deposits to $64.3 million, signalling that traders activity may be whaining at the Connecticut-based brokerage.
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