FXCM Buys Out IBFX MT4 Accounts
News released on September 5th, from FXCM and IBFX indicated a sale of IBFX to FXCM. This transaction only includes the retail accounts in the “MT4” division of the forex business of IBFX. IBFX also has another forex business line that offered their award-winning “TradeStation” platform. This division will not be included in the sale.
For IBFX, this move allows them to focus on their platform “and not dilute our brand or message,” according to Gary Weiss, President of IBFX. Weiss indicated that the uniqueness of features and functions in the TradeStation platform will continue with the focus of their resources.
For FXCM, they will be acquiring approximately $63 million in client equity with the bulk of those accounts being in Asia. The transfer of accounts from IBFX to FXCM should be completed by the end of September. Both IBFX and FXCM will work closely together to make the transition from one to the other as seamless as possible.
One of the benefits of the MT4 platform is that many brokers use it, including FXCM. Clients will not have to learn a new way of doing things. The same tools and resources that clients are used to will still be available – just under a different company name.
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