Coming off a strong second quarter where ILQ grew its total account numbers as well as net customer deposit figures, the business to business forex broker appears to be slated to expand its offerings. The firm recently acquired ASIC regulation and has partnered with several foreign brokers, such as Axi Trader and eToro, to provide services for US based customer services under its NFA license.
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Popping up recently under their NFA information page is the approval of becoming a greater than 10% owner and Principal of US based Velocity Futures. Velocity Futures is a registered FCM that provides futures trading brokerage services to retail and professional traders. For US based forex brokers, one of the disadvantages is the inability to offer CFD trading. By partnering with Velocity Futures, ILQ could be on its way to extending its product line to also include retail futures trading.
As we learn more about the recent ownership stake acquisition and possible entrance to the futures market, Forex Magnates will provide additional updates.