Exclusive: Alpari to Exit US Market
Forex Magnates has learned that Alpari is exiting the US market and will be withdrawing its FCM registration with the
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.
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Another one bites the dust!
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.
Let me guess: existing accounts will be transferred to Gain.
no, attendees themselves voted: http://forexmagnates.com/the-forex-magnates-awards-dilemma-if-how-and-who-a-300-gbp-question/
no, attendees themselves voted: http://forexmagnates.com/the-forex-magnates-awards-dilemma-if-how-and-who-a-300-gbp-question/
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.
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 »
According to the email I just recieved from Alpari (US) my account will be transferred to FXDD not FXCM.
Good riddance!
I was wrong! Looks like clients are being transferred to FXCM.
^^Lol. Futures has zero compulsury leverage requireents
Eur/USD spread going to 5 pips