Exclusive: FXCM Emerges to Acquire FXDD US Retail Client Base
Amidst recent speculation surrounding a possible deal between FXDirectDealer (FXDD) and one of two possible US online FX brokers, Forex
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 acquisition of FXDD by FXCM comes as little surprise, as the hypothesized acquisition of FXDD had been narrowed down to either FXCM or OANDA Corporation.
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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.
Indeed, FXDD has weathered the storm as of late, despite a brush with regulators, including a substantial fine levied by the National Futures Association (NFA) last September.
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So what will happen with FXDD Malta?
Have clients from FXDD USA been compensated for asymmetric slippage and other unfair practices?
I slipped and fell and didn’t get anything from them!
Do you think FXCM will continue the Dukascopy white label of JForex?
FXDD is the only broker with [Dukascopy’s] JForex: will FXCM continue to support JForex?
FXCM won’t adopt JForex, the book of business FXDD has isn’t big enough to justify it, hence they’re selling out. FXCM will probably make the clients choose one of their platforms or close out the accounts. I’d close out my account, who wants to deal with a bunch of egotistical @holes anyways.. It’s a pity the options to trade FX in the US has come to this.
^^ Agreed.
Done Deal! LOL
IMPORTANT NOTICE
Dear Customer,
This letter is to notify you that FXDirectDealer, LLC (“FXDD”) will no longer be the counterparty to retail customers’ positions and will no longer service such customer accounts. We have made arrangements to transfer the custody and clearing of your account to Forex Capital Markets, LLC (“FXCM”).