FXCM Emerges to Acquire FXDD US Retail Client Base

Amidst rampant speculation as of late surrounding the possible deal between FXDirectDealer (FXDD) and one of two possible US online FX brokers, FortuneZ has learned that FXCM concluded a deal to absorb FXDD’s client accounts.

The acquisition of FXDD by FXCM comes as little surprise, as the hypothesized acquisition of FXDD had been narrowed down to either FXCM or OANDA Corporation.

The details have been announced by several FXDD IBs to their clients and the deal is expected to go through in the coming week, pending regulatory approval.

The forex industry has seen several landmark deals over the past year, including Currensee’s acquisition by OANDA CorporationFXCM absorbing Faros Trading, and GAIN Capital’s acquisition of Galvan Research in April.

Indeed, FXDD has weathered the storm as of late, despite a brush with regulators, including a substantial fine levied by the National Futures Association (NFA) last September.

(Photo: FXCM)

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