Exclusive: Alpari to Exit US Market

Photo: Ron Finberg

Forex Magnates has learned that Alpari is exiting the US market, and will be withdrawing its FCM registration with the NFA. According to sources, US accounts will be transferred to FXCM.

The news follows speculation, that the broker was planning to leave the US amid contracting business. In terms of their dwindling business, earlier this month, Forex Magnates reported on CFTC FCM financials, that showed Alpari’s retail forex deposits declining, even as much of the rest of the industry was experiencing gains in accounts and asset sizes during 2013. In terms of the relationship with FXCM, the broker’s CEO, Drew Niv, alluded to a potential deal with another large player during an interview with Forex Magnates, following the firm’s second quarter earnings reports.

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As the story develops, Forex Magnates will provide updates as we receive more information.

Guest

BigPiping

Another one bites the dust!

Jon

1) Do they plan to open up in another jurisdiction, such as Austrailia?
2) what led them to make this decision?
3) So who’s left? all articles related to brokers entering/exiting USA market should include a comment on which brokers remain. This is feasable because the list is small for such a developed country and USD pairs account for >90% of all trading.

seems like people serious about their trading careers will have to establish residency outside USA somehow.

Kyle Waitkunas

Let me guess: existing accounts will be transferred to Gain.

Michael Greenberg

no, attendees themselves voted: http://forexmagnates.com/the-forex-magnates-awards-dilemma-if-how-and-who-a-300-gbp-question/

Editor

piotr.l

You still have choices while trading forex in the USA on your own: FXCM, GAIN, IBFX, MBT, OANDA among the others. But it’s true, that in comparison to other countries like UK, EU in general or Australia, retail fx offering in the USA has recently contracted significantly.

Chuck

FXCM, Gain, Oanada, IBFX/Tradestation, FXDD, ILQ, and MB are the only RFEDs left. That is a short list indeed. Alpari has other offices in other jurisdictions already which is where most of their biz is anyway. Problem is there really isnt a retail fx market in the U.S. at all. Something like 150,000 “active” traders. A much smaller percentage of those that actively trade and have mopre than a couple buckls in a negelected micro account. Doesnt come close to justifying the $20mil+ NFA net cap, plus the annual audits, reporting fees, etc. if you are fighting for a piece… Read more »