AxiCorp partners with ILQ to offer its trading services to US clients
AxiCorp, one of the more established and the largest Australian brokers (dba AxiTrader), is entering the US 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 market through a partnership with Institutional Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term (ILQ).
Since becoming an independent forex broker in the US is extremely costly (over $20m in starting capitalization alone) and cumbersome (FIFO, cap on leverage, etc) it doesn't make much sense for any new broker to enter this market via the full license (RFED). CFTC is aggressively going after foreign brokers accepting US clients however many of them still receive US traffic and would like to capitalize on it. One of the first foreign brokers to monetize its US clientele, without exposing itself to the NFA, was eToro through partnership with FX Solutions.
Lately AxiCorp registered as IB in the US and became a Guaranteed IB for ILQ thus paving way to referring US traders to ILQ and get compensated for that. The only other alternative would be to just refuse opening accounts for US traders - which is a loss of business.
ILQ is an exceptionally interesting broker as it was not only the latest to enter the US forex market but it also doesn't solicit clients directly and is only operating through IB and WL partnerships. Apparently this business model works as ILQ is one of the fastest growing forex brokers in the US, growing 35% in July 2012 alone.
ILQ will provide a unique feed for AxiCorp's clients meaning its US traders will enjoy the same quality of service Australian clients are already benefiting from.
AxiCorp, one of the more established and the largest Australian brokers (dba AxiTrader), is entering the US 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 market through a partnership with Institutional Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term (ILQ).
Since becoming an independent forex broker in the US is extremely costly (over $20m in starting capitalization alone) and cumbersome (FIFO, cap on leverage, etc) it doesn't make much sense for any new broker to enter this market via the full license (RFED). CFTC is aggressively going after foreign brokers accepting US clients however many of them still receive US traffic and would like to capitalize on it. One of the first foreign brokers to monetize its US clientele, without exposing itself to the NFA, was eToro through partnership with FX Solutions.
Lately AxiCorp registered as IB in the US and became a Guaranteed IB for ILQ thus paving way to referring US traders to ILQ and get compensated for that. The only other alternative would be to just refuse opening accounts for US traders - which is a loss of business.
ILQ is an exceptionally interesting broker as it was not only the latest to enter the US forex market but it also doesn't solicit clients directly and is only operating through IB and WL partnerships. Apparently this business model works as ILQ is one of the fastest growing forex brokers in the US, growing 35% in July 2012 alone.
ILQ will provide a unique feed for AxiCorp's clients meaning its US traders will enjoy the same quality of service Australian clients are already benefiting from.