FXCM Australia Ltd., a leader in the retail forex business, has launched new CFD instrument that combines forex, global stock indices, oil, and gold trading into a single easy to use platform. Key features of online CFD trading with FXCM include: No Re-Quote Trade Execution; Access to Global Markets; No Debit Balance; No Commissions. FXCM Australia Ltd currently provides a full package of currency trading products, services, and education, and is pleased to include CFD’s. By trading CFD’s with FXCM, retail clients benefit from FXCM’s close banking relationships with over ten of the largest and most aggressive price providers who supply clients with large pools of liquidity at highly competitive spreads, even during market-moving news events. Furthermore, FXCM believes that the new index, commodity, and precious metal CFD instruments will complement their existing forex business and appeal to more retail clients in Australia and New Zealand, enabling them to trade a range of products from a single trading account.

Dan Perry, Managing Director at FXCM Australia says: “FXCM opened its Australia office in early 2009 to act as headquarters for the company’s expansion into the South Pacific region. As it has expanded its local reach and global footprint into the Pacific, the company has hired staff locally to provide clients with quick deposit, withdrawal, and support services.

Forex Capital Markets (FXCM) is a leading global forex broker that caters to both retail and institutional markets. Founded in 1999, FXCM is one of the largest brokers, regulated by several of the world’s most respected financial authorities.

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Let me explain to you. In 2006 or even earlier the only way to connect retail clients with the Banking Market was what was used to be called the Retail Dealers or the Retail Aggregators. So, Retail Dealers are market makers to their customers; and they traded on a home sale basis with their banks. Obviously this lead to a lot of problems. The Retail Dealer chooses not to hedge the client’s positions but to take the other side of the trade 100% of the times or a significant percent of the times. So they have a conflict of interest with their clients.

In 2006 FXCM invested millions of Dollars and many years of technology to turn the business into an agency model called no dealing desk, where we have today 15 price providers, 12 banks and 3 hedge funds. They are market makers on the system. FXCM is not the market maker at the system. FXCM aggregates all these and takes the best offering for each currency pair from each market make. The market makers cannot see the client’s positions. They can only see that they are trading with FXCM. FXCM has over 200,000 clients trading.

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UK based foreign exchange and derivatives broker ODL Group Ltd announced this morning that it has agreed to be acquired by USA based rival FXCM. ODL Group, which also offers spread betting and CFD trading products is thought to be one of the UK’s largest retail foreign exchange brokers.  The deal will see ODL Group’s biggest shareholders, Graham Wellesley and Lorenzo Naldini selling the business in which they own more than  50% of the equity to USA-based forex exchange brokerage heavyweight FXCM Holdings to create a business with over 200,000 active trading accounts and some 1000 employees worldwide.

Mr Wellesley, ODL Group’s vice chairman, stated that the takeover was just the start of an ‘aggressive’ roll-out plan for the company in which he and Lorenzo Naldini will stay as partners with responsibility for managing the European divisions.  The new company is looking into becoming one of the top CFDs, forex and spread betting  providers in the United Kingdom and a strong competitor to rival counterparts CMC Markets, IG Index and City Index. ‘We believe the takeover will enable us to build a globalised version of their business’, Mr Wellesley said.

http://www.financial-spread-betting.com/news/industry-news/24301-spread-betting-industry-odl-markets-taken-over-by-fxcm/

Filed under: CFD News by LearnCFDs.com
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