The of the IG Group, IG US LLC, has published information on the performance of non-discretionary retail foreign exchange (forex) customer accounts, Finance Magnates has learned.
For the calendar quarter ended on the 31st of March 2020, IG US reported that it had 4,281 active non-discretionary trading accounts. From this number, 25.69 per cent were profitable and 74.31 per cent were unprofitable during the quarter.
For the previous quarter, which is the three months ending on the 31st of December 2019, the US operations of the Group had 2,650 active non-discretionary trading accounts. During this period, 29 per cent were profitable and 71 per cent unprofitable.
Taking a look at the above figures, during the first quarter of 2020, IG US achieved a growth of 61 per cent from the previous quarter in active non-discretionary trading accounts.
US FX retail market at an all-time high
According to , this growth was unmatched by other brokers within the United States. Although we will be publishing the full statistics in our upcoming later this month, we can reveal that the total number of active accounts in the first quarter of this year was 167,608.
This is the largest number of active non-discretionary retail FX customer accounts in the history of the forex market in the United States – even before the implementation of the Dodd-Frank Act, and currently, the accounts held by IG US is contributing to slightly more than 2.5 per cent.
In the final quarter of 2019, the total number of active accounts was 153,434. Therefore, the US FX market has posted an increase of around 9.2 per cent quarter-on-quarter.
IG US historical growth
The first operational quarter for IG US was the three months that ended on the 30th of June 2019. During this period, the firm had 1,228 active non-discretionary trading accounts of which 29 per cent were profitable and 71 per cent unprofitable. In the following quarter, there were 2,133 active non-discretionary trading accounts.
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