Forex Magnates has learned that AlumFX have approached several brokers with offers to sell their business.
On the heels of Black Thursday, many brokerages are looking to buy up competitors or sell their businesses in an industry-wide all-you-can-eat.
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However, speaking with Forex Magnates, company representatives made clear that the decision is unrelated to the unpegging: “We had minimal CHF/EUR exposure which was not significant and immaterial.”
AlumFX is an FCA regulated brokerage (license number 571881) whose mission is “to provide a client-centric FX proposition” and “to meet the requirements of all clients from retail traders through to professional and institutional traders.”
The brand launched in 2011 and, according to LinkedIn, has few employees. The company markets itself as having a “unique pool of aggregated liquidity.”