Exclusive: Alpari to Exit US Market

Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term 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 CFTC The 1974 Commodity Exchange Act (CEA) in the United States created the Commodity Futures Trading Commission (CFTC). The Commission protects and regulates market activities against manipulation, fraud, and abuse trade practices and promotes fairness in futures contracts. The CEA also included the Sad-Johnson Agreement, which defined the authority and responsibilities for the monitoring of financial contracts between the Commodity Futures Trading Commission and the Securities and Exchange Commiss The 1974 Commodity Exchange Act (CEA) in the United States created the Commodity Futures Trading Commission (CFTC). The Commission protects and regulates market activities against manipulation, fraud, and abuse trade practices and promotes fairness in futures contracts. The CEA also included the Sad-Johnson Agreement, which defined the authority and responsibilities for the monitoring of financial contracts between the Commodity Futures Trading Commission and the Securities and Exchange Commiss Read this Term 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.

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