Talking of the consolidation that has taken hold of the US Forex market is hardly bringing any news. Today saw one more piece of proof in this respect, as provider of online trading services OANDA has just announced an agreement to acquire all of the forex accounts of IBFX, Inc. (TradeStation Forex), in a transaction whose financial terms were not disclosed.
IBFX (TradeStation Forex) is the forex dealer firm subsidiary of TradeStation Group, Inc. and is exiting the forex dealer business.
The transfer is set to happen on March 4, 2016.
From March 5, 2016, TradeStation Technologies will offer to the IBFX customers who switch to OANDA, subscriptions for a real-time TradeStation FX platform integrated with OANDA’s forex price feed. This will enable those customers to continue to perform research and analysis on TradeStation FX, including charting, strategy design and strategy testing and optimization, before placing their trades as OANDA clients on their new OANDA order execution platform.
Ed Eger, President and Chief Executive Officer, OANDA Global Corporation, says,
“TradeStation Forex clients are used to top technology and a broker that puts them first. This will continue with OANDA. Our shared values on these crucial matters were a key reason for striking this deal, rather than any others we’ve recently considered. These new clients join a rapidly growing OANDA community at a time when market volatility is high. We’re showing our new clients why OANDA is known for innovative tools and technologies to assist the FX trader as well as exceptional execution and client service. We’re confident that both professional and part-time traders will be happy at OANDA. In fact, we’ve even arranged for introductory free access to some of our advanced services used by elite traders.”
John Bartleman, President of IBFX and TradeStation Securities, Inc., TradeStation Group’s broker-dealer/futures commission merchant operating subsidiary, says,
https://leaprate.com/2016/02/oanda-agrees-acquisition-of-fx-accounts-of-ibfxtradestation-forex/“We believe that OANDA is one of the best online forex dealers in the world and are confident that TradeStation Forex clients will be well served. Forex has always been a small part of our business, and now we will be able to focus all of our online brokerage resources on TradeStation Securities’ equities, options and futures business, and our forex clients will have the benefit of being served by a firm that dedicates its focus to forex trading.”