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FXCM to Acquire FXDD's US Forex Business

May 07 2014
By
Forexbrokerz.com

FXCM Inc. (NYSE:FXCM), a leading online provider of foreign exchange trading and related services worldwide, today announced that its U.S. subsidiary, Forex Capital Markets LLC ("FXCM U.S."), has signed a definitive agreement with FXDirectDealer LLC (FXDD) to acquire their U.S. retail forex accounts ("FXDD U.S. Accounts"). 

 
FXCM will be acquiring approximately $27 million in client equity and seven thousand active FXDD U.S. accounts. 
 
The FXDD U.S. Accounts will be transferred to FXCM U.S. on Friday May 16, 2014 after the close of trading. FXDD clients using the MetaTrader 4 ("MT4") platform will be transitioned to the FXCM MT4 platform and should see minimal changes in platform functionality. FXCM's upgraded MT4 platform integrates seamlessly with its No Dealing Desk forex execution. 
 
"FXCM is dedicated to providing clients with award winning customer service, superior technology, and transparent No Dealing Desk forex execution, and we welcome the former FXDD clients to the FXCM network," said Drew Niv, CEO of FXCM. 
 
FXDD will maintain its presence in the U.S. and its regional headquarters in New York City. In addition to providing forex services to international markets, the company will also work to enhance its institutional business. 
 
"We are pleased to announce this transaction with FXCM, as it will allow us to focus our resources to expand our core international business," said Joseph Botkier, CEO of FXDD. "We are confident that FXCM will provide the same level of excellent service and trading environment that our account holders have experienced at FXDD." 
 
Financial terms of the transaction were not disclosed. 
 
Visit www.fxcm.com and follow us on Twitter @FXCM, Facebook FXCM, Google+ FXCM or YouTube FXCM. 
 
Disclosure Regarding Forward-Looking Statements 
 
In addition to historical information, this release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which reflect FXCM Inc.'s current views with respect to, among other things, its operations and financial performance for the future. You can identify these forward-looking statements by the use of words such as "outlook," "believes," "expects," "potential," "continues," "may," "will," "should," "seeks," "approximately," "predicts," "intends," "plans," "estimates," "anticipates" or the negative version of these words or other comparable words. Such forward-looking statements are subject to various risks and uncertainties. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. FXCM Inc. believes these factors include but are not limited to evolving legal and regulatory requirements of the FX industry, the limited operating history of the FX industry, risks related to the protection of its proprietary technology, risks related to its dependence on FX market makers, market conditions and those other risks described under "Risk Factors" in FXCM Inc.'s Annual Report on Form 10-K and other SEC filings, which are accessible on the SEC website at sec.gov. 
 
These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this presentation and in our SEC filings. FXCM Inc. undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law. 
 
About FXCM Inc. 
 
FXCM Inc. (NYSE:FXCM) is a global online provider of foreign exchange, or FX, trading and related services to retail and institutional customers world-wide. 
 
At the heart of FXCM's client offering is No Dealing Desk FX trading. Clients benefit from FXCM's large network of forex liquidity providers enabling FXCM to offer competitive spreads on major currency pairs. Clients have the advantage of mobile trading, one-click order execution and trading from real-time charts. FXCM's U.K. subsidiary, Forex Capital Markets Limited, offers Contract for Difference ("CFD") products with no re-quote trading and allows clients to trade oil, gold, silver and stock indices along with FX on one platform. In addition, FXCM offers educational courses on FX trading and provides free news and market research through DailyFX.com. 
 
Trading foreign exchange and CFDs on margin carries a high level of risk, and may not be suitable for all. Read full disclaimer. 
 
About FXDD 
 
FXDD (www.fxdd.com), a Foreign Exchange Dealer registered with the CFTC and a member of the National Futures Association, is headquartered in New York City's 7 World Trade Center. FXDD is a leader in online Forex trading dedicated to providing powerful trading technology, reliable streaming liquidity and dedicated, 24-hour customer service for every account holder. FXDD provides services to individual and institutional traders, hedge funds, commercial entities, brokerage firms and money managers around the world. FXDD offers 24-hour Forex trading by way of its trading platforms, which include: MetaTrader, PowerTrader, Mirror Trader and Swordfish. The Company's services currently provide competitive interbank pricing, no-interest accounts, and fully-automated execution. 
 
TAGS: fxcm  fxdd  acquire  acquisition  forex  forex broker  us forex 

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