Exclusive: Monex to Launch New Global Brokerage in Australia

[kreslik.news]

Monex is preparing launch a new product dedicated to the Australian market, Finance Magnates can confirm. The company will use the ASIC license of its IBFX subsidiary acquired together with TradeStation in 2011 to deliver a globally oriented brokerage solution in Australia.

The foreign exchange trading accounts of the IBFX subsidiaries in the US and Australia were sold to OANDA and FXCM a couple of years ago. Monex retained the Australian Financial Services license which allows it to market derivatives and securities. The company is also planning to reintroduce foreign exchange ... (read more)