IG tells America it’s time to turn Forex trading on its head

Maria Nikolova

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.

Read this next

Retail FX

Italian watchdog red flags Olympus Brokers, UnicoFX and Allfina Group

Italy’s Commissione Nazionale per le Società e la Borsa (CONSOB) has shut down new websites in an ongoing clampdown against firms it accuses of illegally promoting investment products in the country.

Retail FX

XTB revenues hits zł1.45 billion in 2022, Q4 earnings disappoint

Poland-based Forex and CFDs broker, XTB has reported its final results for Q4 of 2022 and the full fiscal year ending on December 31, 2022, showing one of its most successful corporate years.

Executive Moves

Lirunex Limited recruits Waleed Salah as head of MENA sales

Maldives-based brokerage firm Lirunex Limited has secured the services of Waleed Salah, who joined the company in the role of its head of sales for the MENA region.

Executive Moves

Trading 212 parts ways with co-founder Borislav Nedialkov

Trading 212 has a void to fill at its FCA-regulated business in London, following the departure of two key players, Raj Somal and Borislav Nedialkov.

Digital Assets

Binance acquires troubled crypto exchange GOPAX

Binance, the world’s largest digital asset trading platform, has reportedly acquired a majority stake in the troubled South Korea-based cryptocurrency exchange GOPAX.

Digital Assets

Kraken exits Middle East, closes UAE office

Digital currency exchange Kraken will close down its operations in Abu Dhabi, UAE and lay off the majority of its team focused on the Middle East and North Africa.

Industry News

CFTC comments on ION Cleared Derivatives issues after Russian-linked hack

“The ongoing issue is impacting some clearing members’ ability to provide the CFTC with timely and accurate data. As this incident unfolded, it became clear that the submission of data that is required by registrants will be delayed until the trading issues are resolved.”

Industry News

FCA took down 14 times more misleading ads in 2022 thanks to technology

The FCA has made significant improvements to the digital tools it uses to find problem firms and misleading adverts. These improvements have enabled it to work through a much larger number of cases compared with 2021.

Executive Moves

HKEX appoints ex-Goldman Sachs Matthew Cheong to lead platform’s focus on derivatives

“He has worked for a number of the world’s leading investment banks and his experience will be invaluable to HKEX as we continue to enhance our derivatives product offerings and build on our innovative and robust platform business, connecting capital with opportunities.”

<