Forex Magnates has today learned from multiple independent industry sources that FXDirectDealer (FXDD) is moments away from striking a deal with one of two major U.S. online FX brokers.
Over recent months – and even years – there has been constant speculation about FXDD’s ability to make deals with names such as OANDA and FXCM, which were repeatedly mentioned as the possible acquirers, as per feedback compiled by our research.
Forex Magnates was unable to provide further details around the time of initial publication as the above mentioned parties were either unreachable or unavailable for comment, ahead of any official announcement, but believes such a deal could be good for clients as it could provide a larger financially backed organization behind an already successful brand if such a deal goes through.
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Recent major deals by large US brokers in the last few quarters included the acquisition of Currensee by OANDA Corporation, FXCM acquiring Faros Trading, and Gain Capital’s recent acquisition of Galvan research announced earlier this month.
FXDD had a few hurdles with the National Futures Association (NFA) recently, some of which were costly, as the regulatory landscape in the U.S. has nearly squeezed out the once plethora of FX brokers that flourished-with the latest exit seen from Institutional Liquidity LLC (ILQ) – announced just weeks ago.