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IG Group gets licensed in the USA

 

Major forex broker IG Group (IG) got a green light from the National Futures Association (NFA) to operate on the US retail forex market. The US arm of IG Group, IG US LLC, has just been approved as a NFA member and is officially registered as a Retail Foreign Exchange Dealer (RFED).

 

The news does not come as a surprise, as IG had previously announced its plans to reestablish itself in the US retail forex market and to open an office in Chicago. The broker applied for a NFA license in the US at the end of November 2017 and actually got approved for all categories:

 

 

This means that IG Group’s US arm can offer US investors trading in retail off-exchange foreign currency futures and/or options. It will be operating on the South American retail forex market along with several other brokers, among which are GAIN Capital and OANDA. The heavily regulated environment chased most forex providers away, including major figures such as FXCM.

 

London-based IG Group was set up in 1974 as a spread betting provider, the first UK-based one at the time. Since then it has expanded its offering immensely and currently covers over 15,000 financial markets, including forex, commodities, shares, world’s major stock indices, Bitcoin, Ethereum, and more.

 

The world-leading online trading provider is primarily regulated by UK’s Financial Conduct Authority (FCA), but its subsidiaries have licenses from the authorities in Australia, Japan, South Africa, UAE and Singapore. Besides, IG is listed on the LSE, and is a member of the FTSE 250.

 

TAGS: IG  USA  NFA license  regulation 

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