Tag Archives: Interbank fx
US forex brokers profitability report for Q4 2011 shows steep drop in number of US accounts amid increase in traders’ profitability
18
2012
US retail forex industry is now showing obvious signs of slow down with number of non-discretionary retail forex accounts held with US based reporting brokers down to record 97,206. This is the lowest count reported since Q3 2010 when first such report was released.
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The announcement of the Tradestation – IBFX acquisition deal obviously generated much interest and discussions in the industry. Main question was whether indeed the price was a mere $17 million. Several of my sources mentioned that Gain may have eventually withdrawn from the deal I announced 2 months ago because there is a pending NFA fine against Interbank FX. Apparently IBFX may be soon fined for some execution flaws – however this has not been announced by the NFA yet so we have no way of knowing whether this will eventually happen.
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Couple of months ago I published that Gain Capital is about to acquire Interbank FX after several rounds of discussions with potential investors. In that round Gain remained as the last bidder. This deal however failed at the last moment for reasons not known to me – but not hard to guess that it was a disagreement over final price.
IBFX didn’t give up on trying to be sold and today finally succeeded – TradeStation (which itself was acquired by Japense Monex Group few months back) just announced that it reached an acquisition agreement with IBFX.
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Interbank FX releases a Future of Algorithmic Trading infographic
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