Exclusive: iFOREX Enters FX Prime Brokerage Space with iFOREXPRIME Offering

Multi-regulated retail brokerage iFOREX has ventured into the prime-of-prime space by offering a new product called ‘iFOREXPRIME’. It will leverage its existing pool of FX and CFDs Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term and open it up to institutional businesses.

iFOREXPRIME will launch in partnership with the New York-based technology provider Forex Development Corporation (FDC), which is headed by Mitch Eaglstein.

iFOREX’s PoP product is intended for a client segment that includes mid-sized funds, retail brokers and professional traders, offering prime brokerage services which are no longer being provided by the larger firms following the Swiss National Bank induced crisis of January 2015.

In addition, the increase in banking regulation, which mandates increased minimum levels of capital and increases in reporting expenses, has resulted in a lot of banks leaving the prime broking space.

The new firm is expected to provide its services to clients who do not have an FX prime broker, or that need additional credit lines to access either liquidity or execution services. The exit of legacy players in the prime brokerage space will allow new offerings, such as iFOREXPRIME, to rapidly gain customers and fill the void.

Commenting on the deal, Peg Reed, Chief Operating Officer at Forex Development Corporation (FDC), said in an exclusive statement to Finance Magnates: "iFOREX has engaged the services of Forex Development Corporation (“FDC”) to transform and distribute its prime business for B2B partners under its new iFOREXPRIME brand. FDC has extensive experience in developing a complete solution from strategy to technology implementation and beyond for FX businesses."

"iFOREXPRIME has a robust Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term with a comprehensive back office system and a state of the art, fully integrated, CRM system that enables the broker to build every aspect of its business, from lead generation, client acquisition, trading life cycle and regulatory compliance," she concluded.

FDC's B2B offerings allow brokers of all sizes to license its technology to develop prime brokerage products that offer MetaTrader 4 integration, real-time analytics, introducing broker (IB) structures, as well as customer service and individualized platform solutions.