The brokerage is folding its retail forex business in the US as a result of the Dodd-Frank bill.
Finance Magnates
Finance Magnates has learned that US clients of Forex brokerage Interactive Brokers have been contacted by email informing them that effective 1 September, 2016, only accounts held by Eligible Contract Participants (ECPs) may open leveraged forex positions.
Eligible Contract Participants
ECPs are generally individuals or organisations with assets of over $10m or $5m if trades are hedging.
The email explained that clients who are ECPs are required to complete a questionnaire in order to continue trading leveraged forex.
Those who do not qualify as an ECP after 1 September 2016 will be able to close their existing forex positions but will not be able to carry out any additional forex trades.
History
In May 2016, the US. Securities and Exchange Commission (SEC) issued a statement reminding brokers and dealers not registered as Retail Foreign Exchange Dealers (RFEDs) that after the 31 July they would not be permitted to provide retail foreign exchange.
This was as a result of the aftermath of the financial crisis in 2008, after which the Dodd-Frank bill was introduced comprising new rules for retail foreign exchange brokers and clients in the US.
At the time it became clear that the only brokerages that will be able to provide retail foreign exchange services to clients would be the RFEDs registered as such with the National Futures Association (NFA).
Separation of Brokers Equities and FX Business
The new rules essentially made for the separation of brokers equities and FX business. As far as Interactive Brokers is concerned, with insufficient FX in the US, this effectively means it is folding its retail forex operation in the US.
While there is no official statement on the company’s website clarifying its position, a representative of Interactive Brokers is reported to have told a client that from September, they will only be able to trade spot FX 1:1.
Hence, clients who have, for example, a 5K account cannot buy/sell more than 5K units worth of any currency pair.
This makes trading FX with Interactive Brokers almost worthless as currency pairs tend to move in very small increments so it is therefore no longer possible to make decent profits unless a client has invested a huge account.
The news effectively means that Interactive Brokers is folding its retail forex business in the US as a result of the Dodd-Frank bill.
Finance Magnates has learned that US clients of Forex brokerage Interactive Brokers have been contacted by email informing them that effective 1 September, 2016, only accounts held by Eligible Contract Participants (ECPs) may open leveraged forex positions.
Eligible Contract Participants
ECPs are generally individuals or organisations with assets of over $10m or $5m if trades are hedging.
The email explained that clients who are ECPs are required to complete a questionnaire in order to continue trading leveraged forex.
Those who do not qualify as an ECP after 1 September 2016 will be able to close their existing forex positions but will not be able to carry out any additional forex trades.
History
In May 2016, the US. Securities and Exchange Commission (SEC) issued a statement reminding brokers and dealers not registered as Retail Foreign Exchange Dealers (RFEDs) that after the 31 July they would not be permitted to provide retail foreign exchange.
This was as a result of the aftermath of the financial crisis in 2008, after which the Dodd-Frank bill was introduced comprising new rules for retail foreign exchange brokers and clients in the US.
At the time it became clear that the only brokerages that will be able to provide retail foreign exchange services to clients would be the RFEDs registered as such with the National Futures Association (NFA).
Separation of Brokers Equities and FX Business
The new rules essentially made for the separation of brokers equities and FX business. As far as Interactive Brokers is concerned, with insufficient FX in the US, this effectively means it is folding its retail forex operation in the US.
While there is no official statement on the company’s website clarifying its position, a representative of Interactive Brokers is reported to have told a client that from September, they will only be able to trade spot FX 1:1.
Hence, clients who have, for example, a 5K account cannot buy/sell more than 5K units worth of any currency pair.
This makes trading FX with Interactive Brokers almost worthless as currency pairs tend to move in very small increments so it is therefore no longer possible to make decent profits unless a client has invested a huge account.
The news effectively means that Interactive Brokers is folding its retail forex business in the US as a result of the Dodd-Frank bill.
OnePrime’s Jerry Khargi on Infrastructure, Liquidity & Trust | Executive Interview
OnePrime’s Jerry Khargi on Infrastructure, Liquidity & Trust | Executive Interview
Recorded live at FMLS:25 London, this exclusive executive interview features Jerry Khargi, Executive Director at OnePrime, in conversation with Andrea Badiola Mateos from Finance Magnates.
In this in-depth discussion, Jerry shares:
- OnePrime’s journey from a retail-focused business to a global institutional liquidity provider
- What truly sets award-winning trading infrastructure apart
- Key trends shaping institutional trading, including technology and AI
- The importance of transparency, ethics, and reputation in long-term success
- OnePrime’s vision for growth over the next 12–24 months
Fresh from winning Finance Magnates’ Best Trading Infrastructure Broker, Jerry explains how experience, mentorship, and real-world problem solving form the “special sauce” behind OnePrime’s institutional offering.
🏆 Award Highlight: Best Trading Infrastructure Broker
👉 Subscribe to Finance Magnates for more executive interviews, market insights, and exclusive coverage from the world’s leading financial events.
#FMLS25 #FinanceMagnates #OnePrime #InstitutionalTrading #Liquidity #TradingInfrastructure #ExecutiveInterview
Recorded live at FMLS:25 London, this exclusive executive interview features Jerry Khargi, Executive Director at OnePrime, in conversation with Andrea Badiola Mateos from Finance Magnates.
In this in-depth discussion, Jerry shares:
- OnePrime’s journey from a retail-focused business to a global institutional liquidity provider
- What truly sets award-winning trading infrastructure apart
- Key trends shaping institutional trading, including technology and AI
- The importance of transparency, ethics, and reputation in long-term success
- OnePrime’s vision for growth over the next 12–24 months
Fresh from winning Finance Magnates’ Best Trading Infrastructure Broker, Jerry explains how experience, mentorship, and real-world problem solving form the “special sauce” behind OnePrime’s institutional offering.
🏆 Award Highlight: Best Trading Infrastructure Broker
👉 Subscribe to Finance Magnates for more executive interviews, market insights, and exclusive coverage from the world’s leading financial events.
#FMLS25 #FinanceMagnates #OnePrime #InstitutionalTrading #Liquidity #TradingInfrastructure #ExecutiveInterview
How does the Finance Magnates newsroom decide which updates are worth covering? #financenews
How does the Finance Magnates newsroom decide which updates are worth covering? #financenews
What makes an update worth covering in financial media?
According to Yam Yehoshua, Editor-in-Chief at Finance Magnates, editorial focus starts with relevance: stories that serve the industry, support brokers and technology providers, and help decision-makers navigate their businesses.
A reminder that strong financial journalism is built on value, not volume.
What makes an update worth covering in financial media?
According to Yam Yehoshua, Editor-in-Chief at Finance Magnates, editorial focus starts with relevance: stories that serve the industry, support brokers and technology providers, and help decision-makers navigate their businesses.
A reminder that strong financial journalism is built on value, not volume.
Liquidity as a Business: How Brokers Can Earn More
Liquidity as a Business: How Brokers Can Earn More
This webinar will focuses on how brokers can create new revenue streams by launching or enhancing their liquidity business.
John Murillo, Chief Dealing Officer of the B2BROKER group, covers how:
- Retail brokers can launch their own B2B arm to distribute liquidity and boost profitability.
- Institutional brokers can upgrade their liquidity offering and strengthen their market position.
- New entrants can start from scratch and become liquidity providers through a ready-made turnkey solution.
Hosted by B2BROKER, a global fintech provider of liquidity and technology solutions, the session will reveal how to monetize liquidity, accelerate business growth, and increase profitability using the Liquidity Provider Turnkey solution.
📣 Stay updated with the latest in finance and trading! Follow Finance Magnates across our social media platforms for news, insights, and event updates.
Connect with us today:
🔗 LinkedIn: / https://www.linkedin.com/company/financemagnates/
👍 Facebook: / https://www.facebook.com/financemagnates/
📸 Instagram: / https://www.instagram.com/financemagnates_official/?hl=en
🐦 X: https://x.com/financemagnates?
🎥 TikTok: https://www.tiktok.com/tag/financemag...
▶️ YouTube: / @financemagnates_official
This webinar will focuses on how brokers can create new revenue streams by launching or enhancing their liquidity business.
John Murillo, Chief Dealing Officer of the B2BROKER group, covers how:
- Retail brokers can launch their own B2B arm to distribute liquidity and boost profitability.
- Institutional brokers can upgrade their liquidity offering and strengthen their market position.
- New entrants can start from scratch and become liquidity providers through a ready-made turnkey solution.
Hosted by B2BROKER, a global fintech provider of liquidity and technology solutions, the session will reveal how to monetize liquidity, accelerate business growth, and increase profitability using the Liquidity Provider Turnkey solution.
📣 Stay updated with the latest in finance and trading! Follow Finance Magnates across our social media platforms for news, insights, and event updates.
Connect with us today:
🔗 LinkedIn: / https://www.linkedin.com/company/financemagnates/
👍 Facebook: / https://www.facebook.com/financemagnates/
📸 Instagram: / https://www.instagram.com/financemagnates_official/?hl=en
🐦 X: https://x.com/financemagnates?
🎥 TikTok: https://www.tiktok.com/tag/financemag...
▶️ YouTube: / @financemagnates_official
How FYNXT is Transforming Brokerages with Modular Tech | Executive Interview with Stephen Miles
How FYNXT is Transforming Brokerages with Modular Tech | Executive Interview with Stephen Miles
Join us for an exclusive interview with Stephen Miles, Chief Revenue Officer at FYNXT, recorded live at FMLS:25. In this conversation, Stephen breaks down how modular brokerage technology is driving growth, retention, and efficiency across the brokerage industry.
Learn how FYNXT's unified yet modular platform is giving brokers a competitive edge—powering faster onboarding, increased trading volumes, and dramatically improved IB performance.
🔑 What You'll Learn in This Video:
- The biggest challenges brokerages face going into 2026
- Why FYNXT’s modular platform is outperforming in-house builds
- How automation is transforming IB channels
- The real ROI: 11x LTV increases and reduced acquisition costs
👉 Don’t forget to like, comment, and subscribe.
#FYNXT #StephenMiles #FMLS2025 #BrokerageTechnology #ModularTech #FintechInterview #DigitalTransformation #FinancialMarkets #CROInterview #FintechInnovation #TradingTechnology #IndependentBrokers #FinanceLeaders
Join us for an exclusive interview with Stephen Miles, Chief Revenue Officer at FYNXT, recorded live at FMLS:25. In this conversation, Stephen breaks down how modular brokerage technology is driving growth, retention, and efficiency across the brokerage industry.
Learn how FYNXT's unified yet modular platform is giving brokers a competitive edge—powering faster onboarding, increased trading volumes, and dramatically improved IB performance.
🔑 What You'll Learn in This Video:
- The biggest challenges brokerages face going into 2026
- Why FYNXT’s modular platform is outperforming in-house builds
- How automation is transforming IB channels
- The real ROI: 11x LTV increases and reduced acquisition costs
👉 Don’t forget to like, comment, and subscribe.
#FYNXT #StephenMiles #FMLS2025 #BrokerageTechnology #ModularTech #FintechInterview #DigitalTransformation #FinancialMarkets #CROInterview #FintechInnovation #TradingTechnology #IndependentBrokers #FinanceLeaders
Executive Interview | Charlotte Bullock | Chief Product Officer, Bank of London | FMLS:25
Executive Interview | Charlotte Bullock | Chief Product Officer, Bank of London | FMLS:25
In this interview, we sat down with Charlotte Bullock, Head of Product at The Bank of London, previously at SAP and now shaping product at one of the sector’s most ambitious new banking players.
Charlotte reflects on the Summit so far and talks about the culture inside fintech banks today. We look at the pressures that come with scaling, and how firms can hold onto the nimble approach that made them stand out early on.
We also cover the state of payments ahead of her appearance on the payments roundtable: the blockages financial firms face, the areas that still need fixing, and what a realistic solution looks like in 2026.
In this interview, we sat down with Charlotte Bullock, Head of Product at The Bank of London, previously at SAP and now shaping product at one of the sector’s most ambitious new banking players.
Charlotte reflects on the Summit so far and talks about the culture inside fintech banks today. We look at the pressures that come with scaling, and how firms can hold onto the nimble approach that made them stand out early on.
We also cover the state of payments ahead of her appearance on the payments roundtable: the blockages financial firms face, the areas that still need fixing, and what a realistic solution looks like in 2026.
