Leading retail Forex broker, FXCM, is expanding once again. Always looking to broaden its retail base, FXCM Holdings LLC, headquartered in New York, has just signed a definitive agreement with IBFX, Inc. and IBFX Australia Pty Ltd to acquire their U.S. and Australian MetaTrader 4 retail Forex accounts. IBFX is a subsidiary of Japan's Monex Group.
The IBFX purchase follows closely on the heels of two other acquisitions: FXDD's and Alpari's U.S. operations.
FXCM is one of the fastest growing full service Forex brokers with offices in the U.K., Japan, Hong Kong, France, Italy, and Australia and is regulated and licensed in each of them. It has vast experience servicing customers who choose to use the MT4 platform.
According to Drew Niv, CEO of FXCM, "A majority of the clients being acquired are located in Asia and have traded through IBFX's Australian regulated entity. This acquisition will add 5% to FXCM's most recently disclosed client equity."
4th Largest U.S. Retailer
IBFX was until now the fourth largest player in the U.S. domestic retail FX sector after FXCM, Oanda and Forex.com (Gain Capital).
MT4 traders will be using FXCM's TradeStation platform, an award-winning trading platform that has received the highest star rating for both "Best for Frequent Traders" and "Best for International Traders" from Barron's March 2014 magazine. The TradeStation platform offers electronic order execution and enables clients to design, test, optimize, monitor and automate their own custom equities, options, futures and Forex trading strategies.
The account transfer is expected to be completed by the end of September; the financial terms of the transaction were not disclosed. IBFX and FXCM will be working closely to ensure that the transfer of the MT4 customer accounts is as seamless as possible without any undue interruptions or inconvenience for customers.