, the largest US forex broker, is to acquire all Metatrader4 retail accounts of the Austalian broker IBFX. The deal will increase FXCM's customer base with approximately 13,000 accounts adding $63 million in client equity.
IBFX is the name of the Australian subsidiary of the US forex broker TradeStation launched back in 2011. TradeStation on its turn was acquired by the Japanese company Monex Inc. the same year. So, in a way, FXCM is now acquiring a chunk of Monex's business.
TradeStation had approximately 85 000 active accounts in August so it not like FXCM is taking a very big chunk from Monex. Apart from MT4 platform IBFX is offering the TradeStation platform which evidently is used by far more customers than MT4.
For Monex it makes sense to sell probably because they are experiencing difficulties of late as one may conclude from their recent financial reports
. Or, alternatively, the offer from FXCM, the NYSE listed broker, was too good to refuse. We just don't know since the financial terms of the deal are not disclosed at least for now.
FXCM's biggest competitor Gain Capital is pursuing very aggressive M&A politics of late. The last month Forex.com
Japan has acquired the Planex Trade customer base
following the acquisition
of Global Futures & Forex Ltd. (GFT) in 2013 for $107.8 million. FXCM now strikes back with the IBFX deal just 5 months after the company has acquired FXDD's US client base
"FXCM welcomes the IBFX clients and our team will work hard to ensure a smooth transition," said Drew Niv, CEO of FXCM. "We are dedicated to providing clients with a wealth of tools, resources and educational services along with our award winning customer service, superior technology, and transparent No Dealing Desk forex execution."
"A majority of the clients being acquired are located in Asia and have traded through IBFX's Australian regulated entity," added Niv. "This acquisition would have added 5% to FXCM's most recently disclosed client equity."
FXCM is one of the best broker to deal with. IBFX MT4 account holders are in good hands.