IG tells America it’s time to turn Forex trading on its head
The leading brokerage has just launched its website dedicated to its US retail FX operations.
Online trading major IG Group Holdings plc (LON:IGG) has just launched the website dedicated to its US retail Forex operations. This happens in tune with IG’s earlier guidance that its US business will start operating at the end of January 2019.
The BASIC system of the National Futures Association (NFA) shows IG US LLC has secured a number of approvals, dated 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. Let’s recall that, 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.
The newly launched website tells America that it’s time to turn Forex trading on its head.
The website enlists the platforms available to US traders via IG, including MT4. The list of FX trading instruments includes over 80 currency pairs, with the broker pledging competitive spreads.
There are just a handful of retail FX brokers currently offering their services in the US retail FX market – GAIN Capital and OANDA are some examples. The exit of FXCM from the US following the regulatory action against the company in early 2017 and the settlements with the regulators have significantly changed the retail Forex landscape in the US, making it attractive for new market participants.