Futures commission merchants, month by month · October 2025
Futures commission merchants in October 2025
64 FCMs reported $589 billion in customer funds for October 2025, +0.5% on the month; the fifteen largest held 91% of it.
$589 billion
customer funds, all FCMs
+0.5%
change on the month
64
FCMs reporting
91%
held by the fifteen largest
The largest FCMs by customer funds
Customer funds are what each FCM must hold for its customers, as it reports them: US futures, foreign futures and cleared swaps added together.
| FCM | Customer funds | Change on the month | US futures (4d) | Foreign futures (Part 30) | Cleared swaps | Adjusted net capital |
|---|---|---|---|---|---|---|
| Jp Morgan Securities LLC | $101 billion | +0.3% | $70 billion | $8.1 billion | $24 billion | $25 billion |
| Goldman Sachs & Co LLC | $74 billion | +2.0% | $40 billion | $9.9 billion | $24 billion | $23 billion |
| Morgan Stanley & Co LLC | $72 billion | −1.8% | $33 billion | $9.0 billion | $30 billion | $18 billion |
| Bofa Securities Inc | $59 billion | +0.2% | $32 billion | $5.4 billion | $22 billion | $20 billion |
| Citigroup Global Markets Inc | $57 billion | −0.3% | $21 billion | $4.7 billion | $31 billion | $18 billion |
| Barclays Capital Inc | $47 billion | +5.0% | $19 billion | $5.4 billion | $23 billion | $6.8 billion |
| Sg Americas Securities LLC | $33 billion | −1.5% | $23 billion | $7.6 billion | $2.3 billion | $5.9 billion |
| Wells Fargo Securities LLC | $24 billion | +1.4% | $8.2 billion | $290 million | $16 billion | $9.5 billion |
| Bnp Paribas Securities Corp | $12 billion | −3.9% | $8.4 billion | $642 million | $3.3 billion | $4.3 billion |
| Ubs Securities LLC | $11 billion | +1.4% | $8.1 billion | $1.8 billion | $1.1 billion | $4.3 billion |
| Interactive Brokers LLC | $11 billion | +0.7% | $10 billion | $651 million | $23.9 million | $11 billion |
| Marex Capital Markets Inc | $9.7 billion | −1.0% | $9.4 billion | $289 million | $63.7 million | $815 million |
| Adm Investor Services Inc | $9.4 billion | +4.2% | $9.0 billion | $379 million | $0 | $528 million |
| Rbc Capital Markets LLC | $8.6 billion | +6.6% | $5.0 billion | $731 million | $2.8 billion | $1.6 billion |
| Mizuho Securities USA LLC | $8.1 billion | −2.5% | $6.6 billion | $1.5 billion | $0 | $1.3 billion |
| Hsbc Securities USA Inc | $8.0 billion | −2.6% | $5.9 billion | $463 million | $1.6 billion | $1.6 billion |
| Stonex Financial Inc | $7.1 billion | −4.3% | $6.8 billion | $258 million | $0 | $520 million |
| Rj Obrien Associates LLC | $6.5 billion | +3.2% | $6.2 billion | $234 million | $0 | $368 million |
| Deutsche Bank Securities Inc | $5.0 billion | +2.0% | $3.6 billion | $1.1 billion | $394 million | $3.0 billion |
| Macquarie Futures USA LLC | $4.8 billion | +1.9% | $4.3 billion | $503 million | $0 | $502 million |
| Abn Amro Clearing USA LLC | $4.4 billion | +3.4% | $4.2 billion | $155 million | $0 | $831 million |
| Santander US Capital Markets LLC | $3.0 billion | +2.2% | $3.0 billion | $0 | $0 | $528 million |
| Wedbush Securities Inc | $2.3 billion | −2.1% | $2.2 billion | $10.7 million | $0 | $253 million |
| Clear Street LLC | $1.6 billion | −4.7% | $1.6 billion | $909,127 | $0 | $946 million |
| Plus500us Financial Services, LLC | $1.2 billion | +5.5% | $1.2 billion | $352,140 | $0 | $120 million |
Biggest movers on the month
Among FCMs holding $100 million or more, the largest changes in customer funds from the month before, in dollars.
| FCM | Customer funds | Change | Change |
|---|---|---|---|
| Barclays Capital Inc | $47 billion | +$2.2 billion | +5.0% |
| Goldman Sachs & Co LLC | $74 billion | +$1.4 billion | +2.0% |
| Morgan Stanley & Co LLC | $72 billion | −$1.3 billion | −1.8% |
| Rbc Capital Markets LLC | $8.6 billion | +$535 million | +6.6% |
| Bnp Paribas Securities Corp | $12 billion | −$498 million | −3.9% |
| Sg Americas Securities LLC | $33 billion | −$491 million | −1.5% |
| Adm Investor Services Inc | $9.4 billion | +$379 million | +4.2% |
| Wells Fargo Securities LLC | $24 billion | +$339 million | +1.4% |
| Stonex Financial Inc | $7.1 billion | −$319 million | −4.3% |
| Jp Morgan Securities LLC | $101 billion | +$298 million | +0.3% |
Every FCM reporting for October 2025
All 64, by customer funds.
| FCM | Customer funds | Change on the month | US futures (4d) | Foreign futures (Part 30) | Cleared swaps | Adjusted net capital |
|---|---|---|---|---|---|---|
| Jp Morgan Securities LLC | $101 billion | +0.3% | $70 billion | $8.1 billion | $24 billion | $25 billion |
| Goldman Sachs & Co LLC | $74 billion | +2.0% | $40 billion | $9.9 billion | $24 billion | $23 billion |
| Morgan Stanley & Co LLC | $72 billion | −1.8% | $33 billion | $9.0 billion | $30 billion | $18 billion |
| Bofa Securities Inc | $59 billion | +0.2% | $32 billion | $5.4 billion | $22 billion | $20 billion |
| Citigroup Global Markets Inc | $57 billion | −0.3% | $21 billion | $4.7 billion | $31 billion | $18 billion |
| Barclays Capital Inc | $47 billion | +5.0% | $19 billion | $5.4 billion | $23 billion | $6.8 billion |
| Sg Americas Securities LLC | $33 billion | −1.5% | $23 billion | $7.6 billion | $2.3 billion | $5.9 billion |
| Wells Fargo Securities LLC | $24 billion | +1.4% | $8.2 billion | $290 million | $16 billion | $9.5 billion |
| Bnp Paribas Securities Corp | $12 billion | −3.9% | $8.4 billion | $642 million | $3.3 billion | $4.3 billion |
| Ubs Securities LLC | $11 billion | +1.4% | $8.1 billion | $1.8 billion | $1.1 billion | $4.3 billion |
| Interactive Brokers LLC | $11 billion | +0.7% | $10 billion | $651 million | $23.9 million | $11 billion |
| Marex Capital Markets Inc | $9.7 billion | −1.0% | $9.4 billion | $289 million | $63.7 million | $815 million |
| Adm Investor Services Inc | $9.4 billion | +4.2% | $9.0 billion | $379 million | $0 | $528 million |
| Rbc Capital Markets LLC | $8.6 billion | +6.6% | $5.0 billion | $731 million | $2.8 billion | $1.6 billion |
| Mizuho Securities USA LLC | $8.1 billion | −2.5% | $6.6 billion | $1.5 billion | $0 | $1.3 billion |
| Hsbc Securities USA Inc | $8.0 billion | −2.6% | $5.9 billion | $463 million | $1.6 billion | $1.6 billion |
| Stonex Financial Inc | $7.1 billion | −4.3% | $6.8 billion | $258 million | $0 | $520 million |
| Rj Obrien Associates LLC | $6.5 billion | +3.2% | $6.2 billion | $234 million | $0 | $368 million |
| Deutsche Bank Securities Inc | $5.0 billion | +2.0% | $3.6 billion | $1.1 billion | $394 million | $3.0 billion |
| Macquarie Futures USA LLC | $4.8 billion | +1.9% | $4.3 billion | $503 million | $0 | $502 million |
| Abn Amro Clearing USA LLC | $4.4 billion | +3.4% | $4.2 billion | $155 million | $0 | $831 million |
| Santander US Capital Markets LLC | $3.0 billion | +2.2% | $3.0 billion | $0 | $0 | $528 million |
| Wedbush Securities Inc | $2.3 billion | −2.1% | $2.2 billion | $10.7 million | $0 | $253 million |
| Clear Street LLC | $1.6 billion | −4.7% | $1.6 billion | $909,127 | $0 | $946 million |
| Plus500us Financial Services, LLC | $1.2 billion | +5.5% | $1.2 billion | $352,140 | $0 | $120 million |
| Phillip Capital Inc | $1.1 billion | −1.6% | $1.1 billion | $30.6 million | $0 | $135 million |
| Hidden Road Partners Civ US LLC | $967 million | +9.5% | $967 million | $0 | $0 | $267 million |
| Nanhua USA LLC | $883 million | +1.3% | $883 million | $673,000 | $0 | $62.9 million |
| Charles Schwab Futures and Forex LLC | $825 million | +0.5% | $825 million | $0 | $0 | $312 million |
| Tradestation Securities Inc | $758 million | −4.7% | $741 million | $16.3 million | $0 | $221 million |
| Advantage Futures LLC | $721 million | +0.4% | $612 million | $109 million | $0 | $38.8 million |
| Straits Financial LLC | $523 million | −2.2% | $508 million | $15.0 million | $0 | $50.1 million |
| Mcvean Trading & Investments LLC | $331 million | +0.5% | $331 million | $0 | $0 | $14.5 million |
| Gh Financials LLC | $325 million | +3.0% | $305 million | $20.2 million | $0 | $48.0 million |
| Dorman Trading LLC | $293 million | −10.7% | $289 million | $3.8 million | $0 | $27.5 million |
| Ninjatrader Clearing LLC | $289 million | −0.5% | $288 million | $1.4 million | $0 | $71.9 million |
| Coinbase Financial Markets Inc | $178 million | +7.3% | $178 million | $0 | $0 | $150 million |
| Ubs Financial Services Inc | $176 million | −4.3% | $175 million | $697,530 | $0 | $1.2 billion |
| Robinhood Derivatives LLC | $166 million | +20.6% | $130 million | $0 | $36.6 million | $107 million |
| Apex Clearing Corporation | $150 million | +1.5% | $150 million | $0 | $0 | $509 million |
| Ironbeam Inc | $116 million | −35.6% | $116 million | $91,733 | $0 | $16.5 million |
| Nomura Securities International Inc | $108 million | +11.9% | $108 million | $0 | $0 | $2.3 billion |
| Etrade Futures LLC | $95.3 million | +4.4% | $95.3 million | $0 | $0 | $73.2 million |
| Amp Global Clearing LLC | $82.6 million | −4.1% | $81.2 million | $1.4 million | $0 | $17.0 million |
| Chs Hedging LLC | $75.4 million | −0.7% | $75.4 million | $0 | $0 | $98.2 million |
| Direct Access USA LLC | $67.8 million | +18.4% | $65.6 million | $2.3 million | $0 | $17.9 million |
| Webull Financial LLC | $36.8 million | +5.9% | $36.8 million | $0 | $82,034 | $185 million |
| Mid Co Commodities Inc | $34.5 million | +34.2% | $34.5 million | $0 | $0 | $17.2 million |
| Bitnomial Clearing LLC | $537,665 | +47.4% | $537,665 | $0 | $0 | $1.6 million |
| Lime Trading Corp | $25,541 | +437.5% | $25,541 | $0 | $0 | $10.2 million |
| Cantor Fitzgerald & Co | $0 | new | $0 | $0 | $0 | $598 million |
| Curvature Securities LLC | $0 | new | $0 | $0 | $0 | $117 million |
| Daiwa Capital Markets America Inc | $0 | new | $0 | $0 | $0 | $1.2 billion |
| Fanduel Prediction Markets LLC | $0 | new | $0 | $0 | $0 | $1.7 million |
| Foris Dax FCM LLC | $0 | new | $0 | $0 | $0 | $2.0 million |
| Gain Capital Group LLC | $0 | new | $0 | $0 | $0 | $69.4 million |
| Jefferies LLC | $0 | new | $0 | $0 | $0 | $2.6 billion |
| Mfi Funding LLC | $0 | new | $0 | $0 | $0 | $455 million |
| Mint Brokers | $0 | new | $0 | $0 | $0 | $2.4 million |
| Natwest Markets Securities Inc | $0 | new | $0 | $0 | $0 | $557 million |
| Oanda Corporation | $0 | new | $0 | $0 | $0 | $40.5 million |
| Performance Predictions II LLC | $0 | new | $0 | $0 | $0 | $1.6 million |
| Scotia Capital USA Inc | $0 | new | $0 | $0 | $0 | $1.4 billion |
| Webull Futures LLC | $0 | new | $0 | $0 | $0 | $25.0 million |
What the data can and cannot say
- The CFTC publishes each FCM's own month-end report. The figures are the amounts each firm is required to hold for customers and its adjusted net capital; they are not its revenue or its market share of trading.
- A change on the month can come from customers' positions, margin levels or market moves as much as from customers won or lost.
- Firms are matched from one month to the next by name; a firm that renamed shows as new.
Sources: CFTC, Financial Data for FCMs. Figures are as filed; none is estimated. Not investment advice.