Trading.com joins a handful of retail FX brokers in the US

abdelaziz Fathi

Trading.com Markets (formerly Trading Point US Inc) has officially launched its FX platform in the US, nearly two years after it was approved as Forex Dealer Member of the United States National Futures Association (NFA). And, to celebrate the launch, the company is offering a $30 welcome bonus to new account signups.

Trading.com

The US arm of forex brand XM will provide retail foreign exchange services to US traders amid a tough regulatory environment that has squeezed other providers out of that market. Trading.com first applied for a forex broker license in the US back in January 2019.

For Pambos Panayiotou, CEO of Trading.com Markets Inc., comments: “From the many conversations we’ve had with retail traders in the US, we identified a gap between what many traditional forex dealers provide, and what clients really require. In many cases, customers felt let down by needlessly complex processes, pricing structures, and an overall lack of clarity when it came to important information. At Trading.com, we’re doing things differently. From our products and services, to our messaging, we’re introducing simplicity to an industry in need of it.”

A fairly stagnant and underserved market

The prospect of loosening regulations began to revive interest in the US stagnant market among foreign brokers. In 2019, London-based IG Group officially launched its United States subsidiary, IG US, which was the first broker to enter the US market since 2009.

IG US has been taking market share away from traditional big players, but the US subsidiary of Europe’s biggest spread better still has a long way to challenge the likes of GAIN Capital and Oanda, which command more than 70 percent of the US retail market.

The new entrants could help brighten the outlook for a retail industry that has struggled for quite some time under the provisions of the Dodd-Frank legislation. However, the exact timeline for revised rules is unclear, but it would likely take several months at the earliest, given the scale of the reform the regulators will be implementing.

Elaborating on their offering to the US market, Trading.com said: “Right now, eligible users across the United States can register for a T1 account, which provides an all-in-one forex trading experience. Customers can enjoy access to news and expert research, a learning center, and advanced trading tools, all in one place, with the Trading.com WebTrader or App. Additionally, the MetaTrader 5 trading platform, successor to the popular MetaTrader 4, featuring additional features and improvements, is also available.”

Read this next

Digital Assets

BlockDAG Presale Raises $9.9M as Batch 5 Nears Sell-Out Amid Bonk’s Fluctuating Trading Volume & Spell’s Bullish Price

Explore BONK’s trading volume, SPELL’s market shifts, and why BlockDAG’s 10,000 ROI makes it an ideal crypto for savvy investors in 2024.

Digital Assets

Cathie Wood’s sponsored Bitcoin ETF sees historic $200 million inflows

The ARK 21Shares Bitcoin ETF (ARKB), co-sponsored by Cathie Wood’s ARK Invest, registered historic inflows exceeding $200 million on Wednesday, signaling a robust appetite among investors for Bitcoin-centric investments.

Digital Assets

Sam Bankman-Fried might see his 25-year sentence halved

Sam Bankman-Fried, the founder of the failed cryptocurrency exchange FTX, was sentenced to 25 years in federal prison by a Manhattan court on Thursday. This comes after he was convicted of defrauding customers and investors, with Judge Lewis Kaplan highlighting the potential future risks posed by Bankman-Fried.

Technical Analysis

EURJPY Technical Analysis Report 28 March, 2024

EURJPY currency pair under the bearish pressure after the pair reversed down from the major resistance level 164.25, which also stopped the sharp weekly uptrend at the end of last year,

Digital Assets

BlockDAG’s Presale Hits $9.9M, MultiversX & MINA Price Predictions Show Green

Read about BlockDAG’s promising $10 prediction and insights on MultiversX Price Prediction as MINA’s potential unfolds.

Digital Assets

Rockstar Co-Founder and All-star Line Up Join Advisory Board to Take Metacade into Post Beta Orbit

Metacade, the revolutionary Web3 gaming platform, prepares to streak out of beta with a slew of ground-breaking initiatives that will redefine the way blockchain games are developed.

Retail FX

Prop firm The Funded Trader shuts down, claims relaunch in April

Prop trading firm The Funded Trader has ceased all operations, with claims for a relaunch in the near future.

Digital Assets

Ethereum-Based Tokenized Real Estate Platform USP Launches On Republic

How This Californian Startup Is Revolutionizing Real Estate Investment through Ethereum-Based Tokenization.

Digital Assets

Sui Spikes in Weekly DEX Volume, Joins Top 10 of All Blockchains

March DEX volume on Sui stands at over $2.88B – up more than 49% from February – with decentralized exchange Cetus and wholesale liquidity layer DeepBook leading.

<