Brokers News

FXPro acquires the spot forex aggregator Quotix

Sep 11 2014 07:41:06 GMT
By
Yassen Vassilev , Forexbrokerz.com Find me on Google+
FXPro, the UK and Cysec regulated global broker, is acquiring Quotix, a company which technology helps forex brokers to gain access to better liquidity, prices and execution.

FXPro is no doubt one of the most dynamically growing forex brokers worldwide. With the increasing trading volume the company enjoys also comes a challenge – to ensure enough liquidity. Even a slight liquidity shortage, one lasting milliseconds, can lead to slow execution, wide spreads, and slippage.

To address such potential risks FXPro decided to buy Quotix. The latter company, founded in 2010 and headquartered in Cyprus, is offering a spot forex aggregator. Simply put, Quotix’s aggregator works as a price feed and bridge linking a broker to multiple liquidity providers. The broker hence can compare prices and choose the best as well as benefit from the huge liquidity pool Quotix represents.

The results of using Quotix’s technology should be tighter spreads, faster execution and little to no slippage at all even when bigger volumes are traded as, for instance, in case of high market volatility. These are the reasons FXPro cites as rationale to buy the fx spot aggregator for an undisclosed fee alongside with the notion that FXPro intends to explore the institutional retail forex market.

There is an interesting sentence on Quotix website comparing its spot fx aggregator with an Electronic Communication Network (ECN): “Similar advantages may be achieved by trading on ECNs. The key difference of aggregators is that the liquidity is relationship-based which may be substantially cheaper for clients who make large volume. Delivering liquidity on a disclosed basis can be beneficial for both for the liquidity taker and the liquidity provider. The takers can receive deeper liquidity and more consistent pricing whereas the liquidity providers can tailor pricing based on their relationships with clients.”

Sounds good. If the execution is perfect in terms of speed, spread, price, and no slippage is detected every trader will be happy and questions about visibility would not be posed. Still the lack of transparency can be regarded as weakness compared to the biggest ECNs or LMAX Exchange.

Anyway, the acquisition of Quotix is a big step forward for FXPro as explained by Mr Charalambos Psimolophitis, CEO of the company:

“As we continue to grow exponentially across the globe, liquidity is critical to ensuring we can provide the best spot FX prices for our clients. This new acquisition allows FxPro to diversify and opens more doors as we start to offer prime-of-prime, aggregation and liquidity services. Above all it will mean improved pricing for clients. We currently have twelve liquidity providers and are aiming to increase this number. By acquiring Quotix we will also be in a stronger position to work more closely with our existing liquidity providers and bring on new ones."
 
TAGS: fxpro  acquisition  quotix  spot fx aggregator 

More news about FxPro

Broker Country Regulation Platform Min Deposit Review
Cyprus CySec MT4, MT5, Web $5 Review Website
US, UK, Australia CFTC/NFA, FCA, ASIC MT4, Web,
Mirror Trader,
Trading
Station,
NinjaTrader
$50 Review Website
UK, Australia, Singapore FCA MT4, Web,
ProRealTime,
2Dealer
$1 Review Website
UK, Cyprus FCA, CySec MT4 $5 Review Website
UK, Cyprus FCA, CySEC MT4, MT5, Web,
cTrader,
SuperTrader,
FxPro Markets
$100 Review Website
Seychelles FinaCom MT4 $10 Review Website
UK, Bulgaria FCA, FSC Web $150 Review Website
Belize IFSC MT4, MT5 $100 Review Website
Cyprus CySEC MT4, MT5 $300 Review Website
New Zealand FMA MT4 $1000 Review Website

More Forex Brokers News

Admiral Markets amends margin requirements

Jan 19 2017 14:59:35

Admiral Markets, a European forex and CFD broker, said it is amending the margin requirements on the instruments it offers on some of the live trading accounts.    According to the broker, the changes will apply to all positions opened on Admiral.Markets and Admiral. Read more

eToro takes ETFs to a next level of Copy Trading

Jan 18 2017 15:20:51

Innovative forex broker and social trading network eToro launched a new investment service called CopyFunds, which takes exchange-traded funds (ETFs) to a whole new level.   ETFs allow traders to invest in a whole sector or market trend, not just in one company or commodity. Read more

XM is only forex broker in World Finance 100 2016 list

Jan 18 2017 12:47:05

XM, a European forex broker regulated by UK's FCA and the Cyprus Securities and Exchange Commission (CySEC), said it has been included in the World Finance 100 list for 2016. Read more

Interactive Brokers’ income before taxes increases by 66.2% in 2016

Jan 18 2017 08:39:23

Multi-asset automated brokerage Interactive Brokers (NASDAQ GS: IBKR) announced key financial and trading metrics for 2016 on Tuesday.  Leading US broker and a market maker reported its income before taxes for 2016 came in at $761 million, which is a growth of 66.2% compared to 2015. Read more

Swissquote’s social network Pulse now available on iOS devices

Jan 17 2017 15:06:27

A bank, a major FX and CFD brokerage, as well as a fintech pioneer, Swissquote announced that its recently launched social network, called Pulse, is now available on iOS devices. Read more

Morgan Stanley raises its stake in Plus500

Jan 16 2017 15:31:23

Morgan Stanley, the US multinational financial company who is among the major stakeholders in the London Stock Exchange (LSE)-traded forex broker Plus500 (LON:PLUS) has raised its stake in the company to pass the 6% threshold. Read more

IG urges its clients to take a stand with regards to FCA’s proposals

Jan 13 2017 08:36:04

Major brokerage IG Group (LON:IGG) encourages its clients to share their opinions about the recent proposal from the Financial Conduct Authority (FCA) to raise margin requirements for CFDs and spread betting, among other things. Read more

FXCM sees December, Q4 2016, annual trading volumes fall

Jan 12 2017 14:31:39

FXCM, the leading US forex brokerage saw a double-digit decline in its December retail and institutional trading volumes both on a monthly and annual basis, show the officially released company metrics. Read more

IG Group renames binary options to “Digital 100s”

Jan 12 2017 10:44:34

 IG Group, one of Europe's largest forex, CFD and spread betting (UK only) brokers has rebranded its binary options products and now calls them “Digital 100s”. Read more

It's official: Banc De Binary renounces Cyprus license

Jan 11 2017 12:43:49

 Banc De Binary, the largest and oldest regulated binary options broker has renounced its Cyprus license, several days after the first reports that it is planning to shutter its business and has stopped taking clients from the EU. Read more