Breaking: OANDA to Acquire about 2000 IBFX Accounts as Monex Exits US FX
Posted: Mon Feb 22, 2016 4:49 pm
OANDA could increase its U.S. market share after acquiring from TradeStation about 2000 clients of its foreign exchange centered subsidiary IBFX. TradeStation which is owned by Monex Group Japan is exiting the retail foreign exchange business in the U.S. just over four years after acquiring IBFX for $17 million.
Provided that all clients stick with OANDA after the deal, the company could become the second largest retail foreign exchange dealer in the U.S. with close to $150 million worth of assets. According to CFTC data from December 2015 the company IBFX held $48.8 million of client obligations. This means that the average deposit ... (read more)