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FXCM to Take on Forex Accounts from Alpari US

FXCM, the leading Forex broker, has just announced the pending transfer of customer accounts from brokerage Alpari US to its subsidiary FXCM U.S.

 

The official transition is scheduled for September 27, 2013, after Friday's market close, and will affect all United States residents who are clients of Alpari US and have Metatrader 4 (MT4) accounts with it. These clients will migrate from Alpari's MT4 platform to FXCM's MT4 platform and the parties in the deal promise that customers should experience no disruptions due to the transition.

 

The team of Alpari U.S. said they've picked FXCM because of their powerful U.S. stronghold, stability in terms of finances, as well as excellent execution capacities. Platform synergies were also among the factors enlisted for the choice of FXCM. 

 

The move comes after several very tough months for Alpari US, in which the company has exhibited falls in retail Forex assets under its custody. In July, these dropped by 10.5% from June levels, the sharpest fall amid all futures commission merchants (FCMs). The Forex broker is purportedly leaving the United States market, with more details about its strategic plans coming soon (so stay tuned).

 

Regarding FXCM, all we can say is that the Forex major scored one more victory with the deal, the financial data about which remains undisclosed. As FXCM's chief financial officer Robert Lande  stressed at the Barclays Global Financial Services Conference: “When you put together two retail foreign exchange dealers, really we don’t need a lot from them other than their customer base”. So, what happened thanks to the deal with Alpari US is that FXCM managed to achieve its main aim – get even more retail customers, without undergoing all of the hardships that usually accompany an acquisition. Very smooth.

 

About FXCM Inc.

 

FXCM Inc. (NYSE: FXCM) is a global online provider of foreign exchange (forex) trading and related services to retail and institutional customers world-wide.

At the heart of FXCM's client offering is No Dealing Desk forex 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, also offers CFD products with no re-quote trading and allows clients to trade oil, gold, silver and stock indices along with forex on one platform. In addition, FXCM offers educational courses on forex trading and provides free news and market research through DailyFX.com.

 
TAGS: fxcm  alpari us  fxcm forex broker  alpari us forex broker  customer transition  forex accounts  forex account migration  us retail forex  corporate deals  mt4  mt4 accounts 

More news about FXCM

Broker Country Regulation Platform Min Deposit Review
US CFTC, NFA MT4, Web,
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