TradeKing Drops MB Trading's Dealer License, Left Only as an IB
- This is another step in the consolidation of the American market as MB Trading is dropping its RFED license.
California-based multi-asset broker MB Trading has notified its clients today that the company will be consolidating its Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term trading operations under TradeKing Forex. The Florida-based TradeKing Group acquired all of its former rival's assets back in August.
At the time of the takeover, Don Montanaro, co-founder and CEO of TradeKing said: “TradeKing and MB Trading clients will have access to the best products, technology and services our two firms have to offer.” It seems MB Trading's independent forex service is not considered the best TradeKing can offer.
Now the people at MB Trading and TradeKing say they believe this transition offers the best trading solution for their clients. They promise that as clients of TradeKing Forex, former MB clients will receive special top-tier spread pricing and other benefits.
Another party that will benefit from the move is GAIN Captial, with TradeKing’s forex division being an introducing broker to GAIN Capital’s FOREX.Com brand. Essentially, MB Trading will no longer exist for Forex Trading Forex Trading Forex trading is the buying and selling of foreign currencies with the aim of generating a profit. The value of currencies, especially floating currencies, fluctuate to varying degrees. This constant volatility of exchange rates opens the door for speculators to invest in a certain currency against another. The Forex market is the world’s biggest and most liquid market, with over $5 billion turnover every single day, with the market being open 24 hours a day, 5 days a week.It goes without saying Forex trading is the buying and selling of foreign currencies with the aim of generating a profit. The value of currencies, especially floating currencies, fluctuate to varying degrees. This constant volatility of exchange rates opens the door for speculators to invest in a certain currency against another. The Forex market is the world’s biggest and most liquid market, with over $5 billion turnover every single day, with the market being open 24 hours a day, 5 days a week.It goes without saying Read this Term as of October 23rd. And all its customers will be handled under TradeKing as the introducing broker.
This is yet another step in the consolidation of the American market as MB Trading is dropping its NFA retail foreign exchange dealers (RFED) license. Privately complaining about suffocating regulations, one broker after another has left U.S shores over the last few years leaving just a handful of players. According to the latest CFTC FCM data, before this move MB Trading was the seventh largest forex broker in the U.S with a 3.3% market share.
California-based multi-asset broker MB Trading has notified its clients today that the company will be consolidating its Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term trading operations under TradeKing Forex. The Florida-based TradeKing Group acquired all of its former rival's assets back in August.
At the time of the takeover, Don Montanaro, co-founder and CEO of TradeKing said: “TradeKing and MB Trading clients will have access to the best products, technology and services our two firms have to offer.” It seems MB Trading's independent forex service is not considered the best TradeKing can offer.
Now the people at MB Trading and TradeKing say they believe this transition offers the best trading solution for their clients. They promise that as clients of TradeKing Forex, former MB clients will receive special top-tier spread pricing and other benefits.
Another party that will benefit from the move is GAIN Captial, with TradeKing’s forex division being an introducing broker to GAIN Capital’s FOREX.Com brand. Essentially, MB Trading will no longer exist for Forex Trading Forex Trading Forex trading is the buying and selling of foreign currencies with the aim of generating a profit. The value of currencies, especially floating currencies, fluctuate to varying degrees. This constant volatility of exchange rates opens the door for speculators to invest in a certain currency against another. The Forex market is the world’s biggest and most liquid market, with over $5 billion turnover every single day, with the market being open 24 hours a day, 5 days a week.It goes without saying Forex trading is the buying and selling of foreign currencies with the aim of generating a profit. The value of currencies, especially floating currencies, fluctuate to varying degrees. This constant volatility of exchange rates opens the door for speculators to invest in a certain currency against another. The Forex market is the world’s biggest and most liquid market, with over $5 billion turnover every single day, with the market being open 24 hours a day, 5 days a week.It goes without saying Read this Term as of October 23rd. And all its customers will be handled under TradeKing as the introducing broker.
This is yet another step in the consolidation of the American market as MB Trading is dropping its NFA retail foreign exchange dealers (RFED) license. Privately complaining about suffocating regulations, one broker after another has left U.S shores over the last few years leaving just a handful of players. According to the latest CFTC FCM data, before this move MB Trading was the seventh largest forex broker in the U.S with a 3.3% market share.