There was a strange report in an Israeli newspaper this week about Easy Forex’s Israeli branch starting to introduce local clients to Citi: http://translate.google.com/translate?js=y&prev=_t&hl=en&ie=UTF-8&layout=1&eotf=1&u=http://www.calcalist.co.il/markets/articles/0,7340,L-3406975,00.html&sl=iw&tl=en
As the article didn’t make any sense I thought it would be important to get clarifications from Citi who were happy to provide more information in order to make sure there are no misrepresentations.
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“Citi announced today that it has entered into an agreement with Traditional Innovation FX (TIFX). According to this agreement, TIFX will become an exclusive introducing broker for eligible individual clients of CitiFX Pro in Israel.”
That’s all there is to it, not sure why the newspaper had anything to say about Easy Forex. It’s possible that this is a local IB that will now be introducing business to Citi instead of to Easy Forex.