It took a little over a year but FXCM finally completed its expected integration with ODL and is now offering stock trading to non-US traders. Stock Trading was available on FXCM’s UK website for a while now but official announcement was just made and www.fxcmstocktrading.com was launched. Unfortunately for FXCM it can only offer stock trading to non US based traders as it operates under ODL’s FSA authorization (changing the name to FXCM Securities Limited) and doesn’t hold a similar license in the US.
It only makes sense for large US forex brokers to start offering stock trading in the US as they already have a large client base so why not market additional product to them? However it is also a very competitive market out there and forex brokers don’t have a distinctive advantage over the more established brokers like Schwab and E*Trade who for now also enjoy from a better reputation.
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