IG Group announces official launch of US retail FX business, aiming to shake things up

Maria Nikolova

“The US forex market has been fairly stagnant and underserved,” said Rupert Osborne, IG US CEO.

Shortly after the launch of the website dedicated to its US retail Forex operations, online trading major IG Group Holdings plc (LON:IGG) announces the launch of IG US, its US-based subsidiary offering foreign exchange trading.

“At IG we pride ourselves on championing the client, I am excited to bring that same focus to serve the United States market,” said June Felix, IG Group CEO. “We see this initiative as a significant growth opportunity and we’re excited about IG’s future in the US.”

IG clients can trade over 80 currency pairs, with competitive spreads. The IG platform integrates news feeds and live TV with real time charts built with HTML5 technology. IG also offers its own native mobile apps for iOS and Android devices and supports MT4.

“The US forex market has been fairly stagnant and underserved,” said Rupert Osborne, IG US CEO. “We want to shake things up and offer US traders better pricing with 24-hour customer support on a newly designed platform – we want to give them a better way to trade forex.”

Let’s recall that, according to the BASIC system of the National Futures Association (NFA), IG US LLC secured a number of approvals on October 15, 2018. Back then, IG US LLC became officially registered as Retail Foreign Exchange Dealer (RFED), and Introducing Broker. It was also approved as Forex Dealer Member, Forex Firm and NFA Member.

IG believes that its retail FX offer in the US will be able to compete successfully in what is currently a limited competitive market with only three other providers. IG has the added benefit of the lead generation provided by the DailyFX website. Effective November 30, 2018, FX Publications Inc, doing business as Daily FX, became registered as NFA Member, Forex Firm, and Introducing Broker. IB is guaranteed by IG US LLC.

Read this next

Market News

Base metals could soon take off from the base again

Dive into our full analysis to understand the potential resurgence of base metals and what it could mean for your investment strategy.

Digital Assets

Global clamp down on crypto tax evasion to go live in 2027

“As jurisdictions that play host to active crypto markets, we therefore intend to work towards swiftly transposing the CARF into domestic law and activating exchange agreements in time for exchanges to commence by 2027.”

Digital Assets

Ripple and Archax team up for tokenization with XRPL

“There is clear real-world utility in use cases like RWA tokenization for the operational efficiency, access to liquid markets and transparency inherent to crypto, and Archax has already tokenized assets such as equities, debt instruments and money market funds. Financial institutions are now understanding this and we are excited to play our part in helping them to embrace the technology by bringing their assets onto the XRPL.”

Interviews

Acuity Trading at iFX EXPO LATAM: Andrew Lane on the rise of AI and prop trading

At iFX EXPO LATAM 2024, Acuity Trading’s Andrew Lane discussed the successful rollout of their Research Terminal, the impact of AI on the trading industry, competition from AI-powered solutions, emerging market trends in Latin America, and the rise of prop trading, while addressing regulatory challenges and innovations.

blockdag

Top Crypto Highlights for Q2 2024: BlockDAG’s Astonishing 1120% Growth Compared to Solana’s Surge and Toncoin’s Market Triumph

Explore the latest highlights in cryptocurrency: Solana’s recovery, Toncoin’s record levels, and the rise of BlockDAG’s innovative technology.

Digital Assets

Ripple seeks $10 million penalty citing Terraform fine in SEC case

Ripple Labs wants to reduce the financial penalties proposed by the U.S. Securities and Exchange Commission (SEC) by leveraging recent fines imposed on Terraform Labs.

Digital Assets

Swiss regulator shuts down CoinShares’ partially-owned FlowBank

Switzerland’s financial regulator, FINMA, has closed FlowBank SA and placed it into bankruptcy due to severe breaches of capital requirements and other supervisory laws. This follows a series of enforcement actions against the bank that began in October 2021.

blockdag

Presale Power Players: 5 Crypto Presales Primed for Success in 2024 According to Experts

Unlock the potential of the best presale cryptos available now. See why experts recommend BlockDAG, Bitbot, eTukTuk, 99Bitcoins Token, and ButtChain.

Executive Moves

Paxos axes 65 jobs, cuts headcount to below 300

Stablecoin issuer Paxos has laid off 65 employees, equating to 20% of its staff, despite maintaining a robust financial standing.

<