Forex Stats

Discussion in 'Forex Trading' started by bidwell, Apr 30, 2012.

  1. bidwell

    bidwell

    Just received IB's RISK DISCLOSURE STATEMENT FOR FOREX TRADING AND IB MULTI-CURRENCY ACCOUNTS (link)

    This breakout caught my eye:
    The table below sets forth the percentage of non-discretionary retail forex customer accounts maintained by Interactive Brokers LLC that were profitable and unprofitable for the past four calendar quarters.

    TIME PERIOD | NUMBER OF ACCOUNTS | % OF PROFITABLE ACCOUNTS | % OF UNPROFITABLE ACCOUNTS

    Q1 2012 49286 41.4% 58.6%
    Q4 2011 45053 51.0% 49.0%
    Q3 2011 45058 51.2% 48.8%
    Q2 2011 41651 38.8% 61.2%

    I have occasionally traded FX via the ETF's and have not tried off-exchange Forex. The number of Forex accounts at IB is growing at +18% on an annual basis, but are these new FX sheep being lead to the slaughter? Reading the risk statement gives me no comfort that this is a market where you can develop an edge.
     
  2. Non discretionary retail meaning that they are using EA's? Or meaning that they have someone from IB advising them? I don't understand that line.
     
  3. bidwell

    bidwell

    That line was copied verbatim of of the top of page 3 of IB's statement. I do not know how they define "non-discretionary retail forex customer" versus "discretionary retail forex customer."
     
  4. Good1

    Good1

  5. Looks like Oanda is slowly getting more clients, unlike most of the others on that list...

     
  6. Options12

    Options12 Guest