Breaking: IG Group pays $40 million to buy DailyFX, the economic calendar everyone in London uses

IG Group will acquire DailyFX for $40 million from its current owner FXCM, with the deal set to complete by the end of October. This is very big news as it is one of London’s most used economic callendars, yet the sale will allow FXCM to pull itself further out of debt to Leucadia. Shrewd moves all round.


British retail electronic trading giant IG Group has today agreed, subject to final approvals, to purchase DailyFX.

DailyFX is an international news and research portal which currently belongs to FXCM.

The deal, which involves the acquisition of DailyFX and its associated assets from FXCM Inc. involves a transaction value of $40 million (currently £30.8 million).  It is anticipated that the transaction will complete by the end of October.

As far as the purchase of this portal by a British firm is concerned, this is huge news as DailyFX is in widespread use among London’s traders and industry professionals alike.

According to IG Group this morning, the purchase is part of the company’s stated aim of becoming the default choice for active traders globally.  DailyFX, through a series of global websites, delivers market-leading education, research, analysis and news, focused predominantly on the FX markets.  IG believes this transaction will significantly enhance its ability to acquire new clients and to engage with and improve the retention rates of its current clients.

The DailyFX websites currently support eight languages, English, French, German, Italian, Spanish, Greek, Arabic and Chinese, with the client recruitment centred in related geographic regions.

IG will take on ownership of all of the assets associated with delivering the full service to current and potential clients, including journalistic and support staff, subscription lists, source code, all relevant domain names and all intellectual property rights.  For an agreed annual fee, FXCM will continue to benefit from advertising on the US site and will take ownership of any US and Canadian domiciled leads that this advertising generates.

On an annualised basis, it is expected that the addition of the DailyFX news and education-based marketing channel will add around £5 million to ongoing operating costs.  It is also expected that the purchase price for the assets will be amortised on a straight-line basis over 10 years.  It is currently anticipated that this channel will generate a sufficient number of incremental active clients such that it will be earnings enhancing in IG’s FY18 financial year, and will deliver increasing value beyond.

Peter Hetherington CEO of IG said: “We are extremely pleased to have had the opportunity to purchase what we consider to be the leading global client recruitment resource in the FX environment, an asset type where IG is very strong, but historically underweight.  This brings to IG an exceptional proven platform for both acquiring new clients and further engaging our entire current global client base, along with a number of very talented people.  This transaction further underpins our commitment to continuing to provide the best client experience in our industry.”

Read this next

Digital Assets

BlackRock digs further into crypto with metaverse ETF

BlackRock, the world’s largest asset manager with almost $10 trillion in AUM, is set to launch a new metaverse ETF to help investors securely monetize on the booming immersive version of the internet.

Digital Assets

Binance wins license in New Zealand as rival Huobi shutters derivatives

Binance, the world’s largest crypto exchange by traded volume, has obtained licenses to operate in New Zealand, even after rival Huobi shutdown derivatives trading last month due to concerns about regulations.

Retail FX

Hong Kong busts perpetrators of ‘ramp and dump’ scam

Hong Kong’s financial watchdog, the Securities and Futures Commission (SFC), has charged thirteen suspects of market manipulation in a joint operation with the local police.

Institutional FX

TradingView integrates market data from German Tradegate exchange

TradingView announced that it ‎has increased data coverage to allow its users to receive information from ‎and get free access to the intra-day and tick data from Tradegate Exchange.

Retail FX

Spotware Systems introduces Custom Push Notifications for cTrader mobile apps

Spotware Systems, a technology provider for the electronic trading industry, is introducing a new push notification feature to alert mobile users of price swings and market fluctuations through their cTrader app.

Market News

The Week Ahead: 30 September from David Madden, Market Analyst at Equiti Group

Sterling dominated the headlines last week, as there were concerns the UK government might struggle to service its debt.

Inside View

How does the quality of signal providers affect your business?

A must-have onboarding process for brokers with investment services like PAMM, MAM, or copy trading


DBS deploys Nasdaq Trade Surveillance

“The confidence that markets and our clients have in DBS as a safe and trusted banking group is anchored on our ability to detect and respond to anomalous activity, which in turn calls for a robust surveillance and prevention infrastructure.”

Industry News

SEC charges Justin Costello and David Ferraro for securities fraud and posing as billionaire veteran

The Securities and Exchange Commission charged Cannabis executive Justin Costello and David Ferraro, an associate of Costello’s, for promoting the stock of several microcap companies on social media without disclosing their own simultaneous stock sales as market prices rose.