that old adage that 90 or 95% of traders lose must be another chestnut from brokers â
'give Us your money, WE won't lose it, but You will'
the attached is a report compiled I presume by Forex Magnate's Michael Greenberg
http://forexmagnates.com/us-forex-brokers-profitability-report-for-q1-2011/
who compiled the aggregated results from individual brokers
the report is presumed accurate, broker reporting is a requirement of CFTC regulations:
"Regulation 5.5 requires RFEDs, FCMs and IBs engaging in OTC retail forex transactions
to provide customers opening an account with a prescribed written disclosure statement
and its profitability report for most recent four calendar quarters, during which the RFED
or FCM acting as the counterparty, maintained retail forex accounts (prepared pursuant to
Regulation 5.18(i)(1))."
11 US-only forex brokers are listed, GFT has client accounts which are 39.9% Profitable
and 60.1% Loss, then Oanda, and FXDD, Alpari and Interbank FX all at 30%, Gain Capital
FXCM, MB Trading, FX Solutions, FX Club with an oddball Advanced Marekts who have 50
accounts: "In February Advanced Markets reported $3.4 million in client capital which divided
by 50 accounts results in an astonishing average $68,544 balance per account â 18 times
higher the US industry average of $3800"
incidentally Oanda's drop from their previous 50% Profits is a result of Not including
accounts that weren't trading, but were being credited/debited with interest paid on
the account balance, Oanada remains the leading ? broker with the 25% of the list's
total clients
ok, so the 90/95% losers is a fallacy, or, is it only fx traders who are so profitable ?
it would be very interesting to have similar reports from futures, stock etc brokers and
compare results, but even at 23.5% it's a pretty good return, and although an average
of all accounts, it would also be interesting to know the Big winners % Profits
'give Us your money, WE won't lose it, but You will'
the attached is a report compiled I presume by Forex Magnate's Michael Greenberg
http://forexmagnates.com/us-forex-brokers-profitability-report-for-q1-2011/
who compiled the aggregated results from individual brokers
the report is presumed accurate, broker reporting is a requirement of CFTC regulations:
"Regulation 5.5 requires RFEDs, FCMs and IBs engaging in OTC retail forex transactions
to provide customers opening an account with a prescribed written disclosure statement
and its profitability report for most recent four calendar quarters, during which the RFED
or FCM acting as the counterparty, maintained retail forex accounts (prepared pursuant to
Regulation 5.18(i)(1))."
11 US-only forex brokers are listed, GFT has client accounts which are 39.9% Profitable
and 60.1% Loss, then Oanda, and FXDD, Alpari and Interbank FX all at 30%, Gain Capital
FXCM, MB Trading, FX Solutions, FX Club with an oddball Advanced Marekts who have 50
accounts: "In February Advanced Markets reported $3.4 million in client capital which divided
by 50 accounts results in an astonishing average $68,544 balance per account â 18 times
higher the US industry average of $3800"
incidentally Oanda's drop from their previous 50% Profits is a result of Not including
accounts that weren't trading, but were being credited/debited with interest paid on
the account balance, Oanada remains the leading ? broker with the 25% of the list's
total clients
ok, so the 90/95% losers is a fallacy, or, is it only fx traders who are so profitable ?
it would be very interesting to have similar reports from futures, stock etc brokers and
compare results, but even at 23.5% it's a pretty good return, and although an average
of all accounts, it would also be interesting to know the Big winners % Profits
