Friday, May 7, 2010

FXCM buys ODL rumor Following months of rumors about a potential acquisition I now got a word that the acquisition was finally completed. FXCM is about to acquire ODL (pending due diligence and regulatory approval) and this merger will form world's largest retail Forex broker.

FXCM has already bought ODL's US retail business a while ago when ODL decided to exit the US market and this probably paved the way for this much larger acquisition. FXCM's volumes are about $365 billion a month and ODL, in my opinion, is making at least $100-150 billion a month thus placing the combined company above Oanda in my monthly volume surveys. The merged company will serve 200,000 clients with combined assets of over $800 million.