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The global Forex market has continued its overall growth in terms of volume in the past quarter. According to Forex Magnates Retail Forex Market quarterly report, Oanda witnessed a drop in client profitability. Oanda had to remove accounts which are only paid interest from the calculation as this was a new requirement set out by Commodity Futures Trading Commission CFTC. This resulted in Oanda's profitability number dropping to 38 percent in the first quarter from Oanda has also removed almost 20, accounts from the total number of accounts and now shows slightly less than 30, accounts, still retaining its status as the largest broker in the US.

The report also showed that GFT now is the most 'profitable' broker in the US, which means, on an average, its clients are more profitable than others. Meanwhile, the most notable aspect in this report is the average growth in overall client profitability. Almost all brokers have reported better profitability numbers in this quarter compared to the previous one, and this is in line with Forex Magnates expectations.

Overall clients were 2 percent more profitable this quarter than in the previous one. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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Exclusive: U.S. Q1 Forex Profitability Report, More Accounts and Profits | Finance Magnates

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