Amidst rampant speculation as of late surrounding the possible deal between FXDirectDealer (FXDD) and one of two possible US online FX brokers, Forex Magnates has learned that FXCM concluded a deal to absorb FXDD’s client accounts.
The details have been announced by several FXDD IBs to their clients and the deal is expected to go through in the coming week, pending regulatory approval.
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The forex industry has seen several landmark deals over the past year, including Currensee’s acquisition by OANDA Corporation, FXCM absorbing Faros Trading, and GAIN Capital’s acquisition of Galvan Research in April.