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NEWS FROM FXCM FOR 28-July-2010
FXCM Recognized Again for Best Retail Platform by FX Week
New York, July 28, 2010—FXCM Holdings LLC (FXCM) (http://www.fxcm.com) has been awarded Best Retail Platform by FX Week at the 2010 e-FX awards for the second year in a row.
The award, announced on July 13, 2010, at the FX Week U.S. conference, recognizes industry excellence in electronic foreign exchange trading from banks and vendors.
FXCM prevailed over other industry leading firms, including Oanda and Saxo Bank.
Drew Niv, CEO of FXCM, stated, “This award once again confirms FXCM's leadership in the forex market. The No Dealing Desk (agency execution) business model embraced by FXCM in 2006 is clearly the direction forward for the retail industry. Clients want transparent and fair execution and FXCM offers it.”
FXCM developed its proprietary trading platforms: FX Trading Station II (PC-based) and FXCM Active Trader (Web-based) to meet the rigorous conditions of today's volatile markets. The current platforms were developed by an in-house team of over fifty programmers. Strategy Trader, a third platform to be released soon, will be a direct competitor to the industry loved MetaTrader 4, but has been built specifically for FXCM's No Dealing Desk business model.
FXCM offers a variety of platforms based on specific trader needs. Along with the platforms listed above, FXCM offers a mobile platform for iPhone, BlackBerry®, Android, and Windows operating systems. The Forex System Selector and MetaTrader 4 platforms† offers clients the ability to set strategies and walk away. All of FXCM’s platforms are extremely scalable and robust. There are over 200,000 live accounts trading on multiple platforms offered by FXCM, with an average of over seven million trades per month.
FXCM currently has successful white-label relationships all over the world working with banks, brokerages, and large financial institutions. White label partners are able to deploy individually customized platforms based on FXCM's awarding forex trading platform.
FXCM Holdings LLC Facts
FXCM is a leading global forex and CFD 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.
At the heart of FXCM’s client offering is No Dealing Desk forex trading. Clients have market access to some of the world's largest liquidity providers which enables FXCM to offer clients spreads as low as 1 pip on major crosses. Clients also have the benefits of mobile trading, one-click order execution and trading from real-time charts. FXCM’s CFD product* offers no re-quote trading and allows traders to trade oil, gold, silver, and stock indices, along with forex on one platform. In addition to currency and CFD trading, FXCM offers educational courses on forex trading, and provides free news and research through DailyFX.com.
†MetaTrader 4 and FSS accounts are available through FXCM LTD.
*Please be advised that CFD accounts are not available to residents of the U.S. or its territories. Additionally, FXCM LTD offers spread betting exclusively to UK residents. Residents of other countries are NOT eligible.
Trading foreign exchange and CFDs on margin carries a high level of risk, and may not be suitable for all. Read full disclaimer.
Gregory Kelly
Public Relations Associate
Forex Capital Markets
32 Old Slip, 10th Floor
New York, NY 10005
E-mail: gkelly@fxcm.com
Phone: (646) 432 - 2122
NEWS FROM FXCM FOR 20-July-2010
June FXCM King of the Micro Winner Garners Nearly 835% Profit*
For Immediate Release
New York, July 20, 2010—FXCM (www.fxcm.com) King of the Micro Contest competitors struggled to profit from a forex market in transition during the month of June. Following six months of steady appreciation for the U.S. dollar, the benchmark currency would finally work towards a meaningful correction as fears surrounding the European debt crisis and the possible collapse of the euro subsided. The markets, however, remained as volatile as ever throughout the month, and disciplined traders reaped huge profits as currency pairs adapted to changing economic and political currents.
(Disclaimer: Although the information expressed below was obtained from actual FXCM account records, gains of the magnitude described are not typical and, therefore, are not representative of the majority of forex traders as past performance is not indicative of future results.)
Melquiades Matacot of Canada, raking in nearly 835% in profits, captured the crown and its accompanying $25,000 purse in June. Trading primarily GBP/USD and GBP/JPY, Matacot deployed a variety of fundamental and technical strategies to beat out the competition. A relative newcomer to the forex markets, Matacot started trading currencies less than two years ago. But already, his new passion has had a profound impact on his life. “[Forex trading] has changed my life for the better,” says Matacot. “It has given me a new beginning and has made me a new person.” For other traders that are also new to the market, Matacot advises them to develop patience, discipline, and emotional detachment; without those traits, successful trading is next to impossible. View Matacot’s trading report and survey.
Finishing in second place was Yu Quan Du of China with a 579% profit. Du, who generally prefers to hold trades open between two and ten days, speculated entirely on USD pairs, garnering his biggest gain on a 1,170 pip GBP/USD trade. Money management skills and an overall placid disposition have proven Du’s greatest assets as a trader. “Success or failure lies in one’s mindset,” says Du. “One needs to take profits timely and exit a trade decisively when loss is incurred.” View Du’s trading report and survey.
Rounding out the top three, with a 368% profit, was Ian Thomas of the United States. Unlike Matacot and Du, who both incorporated long-term trades into their strategies, Thomas preferred scalping, a tactic whereby traders attempt to profit from multiple small price changes rather than a few large price changes. This particular trading method is highly reflective of Thomas’s overall trading philosophy: “Every scenario developed can and often does fail.” However, even with such a sober outlook of the markets, Thomas enjoys trading tremendously, and finds that it allows him to earn a modest wage while engaging with fascinating problems and challenges. View Thomas’s trading report and survey.
What is the FXCM King of the Micro Contest?
King of the Micro is a currency trading contest hosted by FXCM, which gives away cash prizes every month: $25,000 for the trader with the highest trading return, $10,000 to second place, and $5,000 goes to third place. Since its inception, FXCM has awarded over $500,000 in cash prizes.
In the past, winners have come from the United States, China, Malaysia, Canada, and the United Kingdom, among others. It’s free to enter and no registration is needed. All you need to do is be an FXCM client with $500 in your Micro account at the beginning of each month, and you’re automatically entered. You also must make ten trades during the month to remain eligible.
For more information on the King of the Micro Contest, to read the full contest rules, and to deposit money into your FXCM Micro account, click here.
FXCM Micro is a division of FXCM that provides new traders with access to the currency markets for as little as $25. With a small (1K) lot size, FXCM Micro provides a great way to get started in the forex market. FXCM Micro is offered for individual, self-traded accounts.
FXCM Holdings LLC Facts
Forex Capital Markets (FXCM) is a leading global forex and CFD 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.
At the heart of FXCM’s client offering is No Dealing Desk** forex trading. Clients have Direct Market Access to some of the world's largest forex liquidity providers, enabling FXCM to offer clients spreads as low as 1 pip on major crosses. Clients also have the benefits of mobile trading, one-click order execution, and trading from real-time charts. FXCM’s CFD product offers no re-quote trading and allows traders to trade oil, gold, silver, and stock indices, along with forex on one platform. In addition to currency and CFD trading, FXCM offers educational courses on forex trading, and provides free news and research through DailyFX.com.
*Past performance is not necessarily indicative of future results.
†Please be advised that CFD accounts are not available to residents of the U.S or its territories.
**Please note, FXCM Micro, in its discretion, may or may not offset individual transactions unlike transactions in most FXCM standard accounts. For additional information, click here.
Trading foreign exchange and CFDs on margin carries a high level of risk, and may not be suitable for all.
Press Contact:
Gregory Kelly
Public Relations Associate
Forex Capital Markets
32 Old Slip, 10th Floor
New York, NY 10005
E-mail: gkelly@fxcm.com
Phone: (646) 432 - 2122
NEWS FROM FXCM FOR 08-July-2010
FXCM Australia Launches CFDs in Forex, Stock Indices and Commodities
Trade with No Re-quotes, No Debit Balance and No Commissions*
Sydney, 7 July 2010—FXCM Australia Ltd., (www.fxcm.com.au ), a leader in the retail forex business, has launched new CFD instruments that combine 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 ExecutionSome brokers re-quote their clients when trading CFDs. FXCM will not interfere in your trading by re-quoting your trades.
Access to Global Markets
Trade gold, oil, the ASX 200, global stock indices and forex all from one platform.
No Debit Balance
Unlike margin trading through other providers, FXCM guarantees that you will never have to pay a deficit balance as a result of trading!
No Commissions,* Tight Spreads
Use less of your money to trade more. With FXCM, you will be able to trade commission-free with competitive spreads.
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.
FXCM Australia Ltd. currently provides a full package of currency trading products, services and education, and is pleased to include CFDs. Everything we do at FXCM is driven by client demand. Our clients have long asked to apply the no re-quote business logic we adopted for our award-winning forex service to the index, oil and metals CFD marketplace.”
By trading with FXCM, retail clients benefit from FXCM's cutting-edge technology. Also, in forex exchange instruments, clients benefit from FXCM’s close banking relationships with over ten of the largest and most aggressive forex 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.
To open a free practice account and begin trading CFDs with FXCM Australia, please go to: http://www.forextrading.com.au/free-forex-accounts.jsp.
**Please Note: FXCM Australia Ltd. has released the following documents. It is important that you familiarise yourself with all the following documents before trading CFDs. **
A new CFD Product Disclosure Statement: View Here
Modified version of the FX Product Disclosure Statement: View Here
Modified version of the Financial Services Guide: View Here
Modified version of the Terms of Business: View Here
Should you have additional questions, please refer to: CFD Frequently Asked Questions.
About FXCM Holdings LLC
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.
FXCM's CFD product† offers no re-quote trading and allows traders to trade oil, gold, silver and stock indices, along with forex on one platform. In addition to currency and CFD trading, FXCM offers educational courses on forex trading and provides free news and research through DailyFX.com.
*FXCM is compensated through the bid/ask spread except where otherwise noted.
†Please note that CFD accounts are not available to residents of the U.S. and its territories.
Trading foreign exchange and CFDs on margin carries a high level of risk, and may not be suitable for all investors.
Risk Warning: Trading foreign exchange and/or CFDs on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange and/or CFDs offered by FXCM Australia Ltd. you should carefully consider your objectives, financial situation, needs and level of experience. FXCM provides general advice that does not take into account your objectives, financial situation or needs. The content of this Web site must not be construed as personal advice. By trading, you could sustain a total loss of your deposited funds and therefore, you should not speculate with capital that you cannot afford to lose. You should be aware of all the risks associated with trading in foreign exchange products and you should read and consider the Financial Services Guide, Product Disclosure Statement, and Terms of Business issued by FXCM Australia Ltd. before making any decision about whether to trade the foreign exchange or CFD products offered by FXCM Australia Ltd. Foreign exchange and CFD products are only suitable for those customers who fully understand the market risk. For any questions or to obtain a copy of any documents, contact FXCM Australia Ltd. at support@fxcm.com.au. FXCM recommends you seek advice from a separate financial advisor.
NEWS FROM FXCM FOR 06-July-2010
ODL Markets offers No Dealing Desk Execution on forex trades
FOR IMMEDIATE RELEASE
06 July 2010—Clients of ODL Markets are now benefitting from No Dealing Desk execution on their forex trades, eliminating dealer intervention to provide you with transparent and fair execution.
No Dealing Desk execution provides greater transparency and fairer execution by removing the conflict of interest between brokers and traders as well as reducing the potential for market interference by price providers.
ODL Markets is taking a lead in the UK by offering FXCM’s No Dealing Desk execution on forex and spread bet transactions and no re-quotes on CFD trades. As a result, ODL Markets is able to stream competitive spreads that are provided by some of the world’s largest banks and financial institutions and streamed to traders with a small mark up. Spreads can be as low as 1 pip or less for major currency pairs.
The change affects almost 14,500 individual trading accounts and comes a month after FXCM agreed to terms to acquire the ODL Group. ODL clients are now benefitting from FXCM’s established relationships and can have the confidence of trading with one of the world’s largest and strongest retail forex, CFD and spread betting companies.
Drew Niv, CEO of FXCM, the global forex and CFD powerhouse, said: ““FXCM spearheaded the introduction of No Dealing Desk execution to the market in 2006 and ODL Markets clients can now benefit from No Dealing Desk execution on forex trades. Under No Dealing Desk execution, every forex trade is executed back to back with one of the world's premier banks or financial institutions. Banks compete with each other to offer FXCM the best bid and ask prices, which we pass onto our clients, resulting in low spreads and faster execution as there is no intervention from a dealing desk. Another major benefit is the ability to place orders within 1 pip of the market with no restrictions.
“Having multiple price providers is especially important in volatile markets when one or two banks may post wide spreads, or simply avoid quoting any price at all. With so many major banks quoting prices to FXCM there are competitive spreads, even during market-moving news events.”
To open a No Dealing Desk account through ODL Markets go to: http://www.odlmarkets.com/accounts/.
Risk Warning: Trading FX, CFDs and Spread Betting on margin carries a high level of risk, and may not be suitable for all investors. Read FXCM’s full disclosure: http://www.fxcm.co.uk/docs_pdfs/risk-disclosure.pdf
About ODL Group:
ODL Group is a leading, independent forex, derivatives, equity and commodity trading house. Headquartered in London, ODL Securities offers retail, IB and white label clients an integrated approach to trading diverse financial products. The ODL Group now trades under the names ODL Markets powered by FXCM.
ODL Group Limited (ODL) announced on 5 May 2010 that it has agreed on terms to be acquired by FXCM Holdings LLC (FXCM), a leading global forex broker that caters to both retail and institutional markets. ODL’s strong UK and European businesses will provide an excellent complement to FXCM’s sizeable operations in both the United States and Asia. The combined companies will operate as one of the largest non-bank forex brokers globally servicing over 200,000 live trading accounts with combined client assets in excess of US$800 million. The deal is still pending final due diligence review and regulatory approval.
ODL Securities Limited is authorised and regulated by the Financial Services Authority and is a member firm of the London Stock Exchange and NYSE Euronext, LIFFE. For further information please visit www.odlmarkets.com.
NEWS FROM FXCM FOR 23-June-2010
May FXCM King of the Micro Winner Boasts 3110% Profit*
New York, New York – June 23, 2010
May proved an especially exciting month for FXCM King of the Micro competitors, and can be summed up with one word—volatility. As the Greek sovereign debt crisis prolonged the euro’s precipitous decline (EUR/USD shed 1042 pips for the month) and sent shockwaves throughout the global economy, the safe haven U.S. dollar saw huge gains while the Japanese yen benefitted tremendously from the unwind of carry trades. Lucrative trade opportunities abounded and smart traders took big advantage.
(***Disclaimer: Although the information expressed below was obtained from actual FXCM account records, gains of the magnitude described are not typical and, therefore, are not representative of the majority of forex traders as past performance is not indicative of future results. ***)
Artus Modras of Poland, our winner, achieved an extraordinarily impressive 3110%* return for the month. Utilizing fundamental analysis and a host of technical indicators, Modras kept trades open for up to several weeks to rack up substantial pip increases on the GBP/JPY, GBP/USD, and EUR/USD trades. Along with a few admittedly lucky breaks, Modras attributes much of his success to the sixteen years of trading experience he has acquired, beginning at the Warsaw Stock Exchange. “Experience is the key to success,” says Modras. “Traders have to spend many years in the market to develop the reflexes required to enter and exit trades at the right moments.” View Modras’s trading report and survey.
In second place, Chin Lin Chong of Malaysia scalp traded his way to a 1132%* profit on EUR/USD and EUR/JPY. Chong is a relative newcomer to the forex market with a year of experience under his belt. Although trading has not changed his life too much yet, Chong believes he possesses the confidence, discipline, and patience needed to overcome greed and thrive as a currency trader. View Chin’s trading report and survey.
Finishing in third place was Hongyan Jin of China with a 787%* return. Keeping trades open anywhere between three days and over a week, Jin made his largest profits trading USD/JPY and EUR/USD. Jin encourages fellow traders to continually reexamine their trading habits in order to sharpen their instincts and identify the strategies that work best. View Hongyan’s trading report and survey.
What is the FXCM King of the Micro Contest?
King of the Micro is a currency trading contest hosted by FXCM, which gives away cash prizes every month: $25,000 for the trader with the highest trading return, $10,000 to second place, and $5,000 goes to third place. Since its inception, FXCM has awarded over $500,000 in cash prizes.
In the past, winners have come from the United States, China, Malaysia, Canada, and the United Kingdom, among others. It’s free to enter and no registration is needed, making it easier than ever. All you need to do is be an FXCM client with $500 in your Micro account at the beginning of each month, and you’re automatically entered. You also must make ten trades during the month to remain eligible.
For more information on the King of the Micro contest, to read the full contest rules, and to deposit money into your FXCM Micro account, click here.
FXCM Micro is a division of FXCM that provides new traders with access to the currency markets for as little as $25. With a small (1K) lot size, FXCM Micro provides a great way to get started in the forex market. FXCM Micro is offered for individual, self-traded accounts.
FXCM Holdings LLC Facts
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.
At the heart of FXCM’s client offering is No Dealing Desk† forex trading. Clients have Direct Market Access to some of the world's largest forex liquidity providers, enabling FXCM to offer clients spreads as low as 1 pip on major crosses. Clients also have the benefits of mobile trading, one-click order execution, and trading from real-time charts. FXCM’s CFD product** offers no re-quote trading and allows traders to trade oil, gold, silver, and stock indices, along with forex on one platform. In addition to currency and CFD trading, FXCM offers educational courses on forex trading, and provides free news and research through DailyFX.com.
* Past performance is not necessarily indicative of future results.
† Please note, FXCM Micro, in its discretion, may or may not offset individual transactions unlike transactions in most FXCM standard accounts. For additional information, click here.
** Please be advised that CFD accounts are not available residents of the U.S or its territories.
Risk Warning: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Press Contact:
Gregory Kelly
E-mail: gkelly@fxcm.com
Phone: (646) 432-2122
Gregory Kelly
Public Relations Associate
Forex Capital Markets
32 Old Slip, 10th Floor
New York, NY 10005
E-mail: gkelly@fxcm.com
Phone: (646) 432 - 2122
NEWS FROM FXCM FOR 25-May-2010
New DailyFX Trading Course Raises the Bar for Online Forex Education
New York, May 25, 2010—DailyFX (www.dailyfx.com), FXCM’s free news and research Web site, is proud to announce the launch of its new, video-based DailyFX Trading Course, free to all live FXCM clients.
For years, FXCM has offered a variety of trading courses. These courses have been extremely popular, with thousands of students completing them. But despite their tremendous popularity, these courses underwent some revamping recently in order to continue setting the standard for online forex education.
“We have always been pleased with the positive reviews from traders who enrolled in the old Power Course,” says DailyFX Education Team Lead Jeremy Wagner. “But we realized we were reaching a relatively small portion of the forex community and limiting the amount of information that our students were learning. To make the course more effective and accessible, and to reach out to a larger group of traders, we decided to upgrade the course from a forum-based offering to a video-based offering. And so far, we’re really glad we did.”
Continuing the DailyFX commitment to provide traders with the very best educational tools and resources on the Web, the DailyFX Trading Course is designed to introduce popular trading tools and techniques in a manner that both new and experienced traders can benefit from. The bulk of the course consists of 60 video lessons, spanning 15 trading subjects, and over ten hours of live instructor led webinars each week. In addition to the videos and webinars, students can complete homework assignments and further their learning through course forum discussions. Moreover, the curriculum’s “go at your own pace” and “learn what you want” format provides students the flexibility and freedom to focus on the subjects they want for as long as they want.
However, unlike previous DailyFX course offerings, the new DailyFX Trading Course is not for sale. Instead it is free to all live FXCM clients.
“Rather than focusing our energies on selling the course to the general public, we’re concentrating all of our resources on our clients,” says Marc Prosser, CMO of FXCM. “We want our instructors to be able to dedicate all of their time to helping FXCM clients improve their trading skills and continue cultivating their passion for online currency trading.”
Participating in the new DailyFX Trading Course is easy. If you already have a live FXCM account, simply log into DailyFX+ and start learning. If you don’t have a live FXCM account but are interested in taking the course and gaining 24-hour, seven day a week access, simply open an FXCM account today.
What’s in the Course?
Core Video Lessons: Each course subject has two core video lessons. The first lesson introduces the subject and primes students for the more advanced concepts covered in lesson two. The second lesson explores the subject in more detail, providing necessary information for mastery of the subject.
Instructor Take Lessons: Each subject features two Instructor Take Lessons, in which a DailyFX instructor explains how they specifically trade with the subject under discussion (e.g. MACD).
Daily Instructor Webinars: Every day, DailyFX course instructors will hold live webinars to complement the core video lessons. These webinars show traders, in real-time, how to apply what they learned in the video lessons to actual live trading situations. Following the trading portion of the webinar, the instructor will field questions and provide additional insight into the trading session.
Homework: An extremely popular component of the original Power Course, homework assignments allow students to reflect on the lessons covered and gauge how well they have absorbed course materials. Students will also receive feedback on their homework from course instructors.
Forums: After watching the video lessons or participating in the live webinars, there is a good chance that students will still have questions. For these instances, students can visit the DailyFX forums to pose questions directly to course instructors as well as continue to engage in subjects covered in the week’s lessons.
To learn more about the DailyFX Trading Course and to sign up for any live FXCM trading account, click here.
And to get a sneak peek at the new trading course, contact me at the email address below for a trial login.
# # #
FXCM Holdings LLC Facts
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.
At the heart of FXCM’s client offering is No Dealing Desk* forex trading. Clients have Direct Market Access to some of the world's largest forex liquidity providers, enabling FXCM to offer clients spread as low as 1 pip on major crosses. Clients also have the benefits of mobile trading, one-click order execution, and trading from real-time charts. FXCM’s CFD product† offers no re-quote trading and allows traders to trade oil, gold, silver, and stock indices, along with forex on one platform. In addition to currency and CFD trading, FXCM offers educational courses on forex trading, and provides free news and research through DailyFX.com.
* Please note, FXCM Micro, in its discretion, may or may not offset individual transactions unlike transactions in most FXCM standard accounts. For additional information, click here.
† Please note that CFD accounts are not available to residents of the U.S. and its territories.
Trading foreign exchange and CFD’s on margin carries a high level of risk, and may not be suitable for all investors. Past performance is not necessarily indicative of future results.
Press Contact:
Gregory Kelly
Public Relations Associate
Forex Capital Markets
32 Old Slip, 10th Floor
New York, NY 10005
E-mail: gkelly@fxcm.com
Phone: (646) 432 - 2122
NEWS FROM FXCM FOR 05-May-2010
ODL Group Limited To be Acquired by FXCM Holdings, LLC
ODL Group Limited (“ODL”), a leading, independent forex, derivatives, equities and commodities broker, announces today that it has agreed on terms to be acquired by US-based FXCM Holdings LLC (“FXCM”), a leading global forex broker that caters to both retail and institutional markets. ODL’s strong UK and European businesses will provide an excellent complement to FXCM’s sizeable operations in both the United States and Asia. The combined companies will operate as one of the largest non-bank forex brokers globally servicing over 200,000 live trading accounts with combined client assets in excess of US$800 million. The deal is still pending final due diligence review and regulatory approval.
Founded in 1999, FXCM is one of the largest forex brokers, regulated by several financial regulators including the Financial Services Authority in the UK and the Commodity Futures Trading Commission in the U.S. FXCM is one of very few forex and CFD brokers to regularly publish its balance sheet. With over $135 million in firm capital (assets minus liabilities), FXCM exceeds regulatory requirements.
Post acquisition, ODL will continue to trade under its current name. A major benefit to ODL clients will be that they gain access to FXCM’s No Dealing Desk execution on forex trades. Under No Dealing Desk execution, forex trades are fully-automated and executed back-to-back with one of the world's premier banks or financial institutions. Over ten banks compete to provide FXCM with bid and ask prices, resulting in low spreads and fast execution, with no intervention from a dealing desk on forex trades. Another major benefit of No Dealing Desk execution is the ability to place orders within one pip of the market with no restrictions.
Commenting on the acquisition, Drew Niv, CEO of FXCM, said: “For several years, FXCM has been working towards becoming a major player in Europe. The deal with ODL will provide us with a great opportunity to achieve this. We believe FXCM will be the only retail forex firm with a truly global footprint. In an industry in which size and scale are important, this is a major advantage.”
No financial information regarding the structure of the deal is being released.
London based specialist advisory firm FT Advisors Limited acted as exclusive advisor to ODL.
San Francisco based FT Partners www.ftpartners.com served as sole strategic advisor to FXCM.
Trading foreign exchange and CFDs on margin carries a high level of risk, and may not be suitable for all investors
-Ends -
For further information please contact:
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ODL Group Limited |
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Graham Wellesley, Vice Chairman |
Tel: +44 (0) 20 7903 6100 |
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FXCM Holdings LLC |
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Jaclyn Sales, Public Relations Manager |
Tel: +1 646 432 2463 |
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Media Enquiries:
Notes to Editors
ODL Securities is a leading, independent forex, derivatives, equity and commodity trading house. Headquartered in London, with affiliates in Australia and Turkey, ODL has over 200 staff globally and clients from over 100 countries. ODL Securities offers Retail, IB and White Label clients an integrated approach to trading diverse financial products. The Group companies now trade under the names ODL Markets in the UK (for retail business).
Originally founded in 1994 as an Options House with just 28 staff, ODL Securities Limited received a capital injection from new shareholders in 2004 and a new senior management team was appointed. Since then, a wide range of enhancements have been implemented across all areas of the business, and new products introduced.
ODL Securities Limited is authorised and regulated by the Financial Services Authority and is a member firm of the London Stock Exchange and NYSE Euronext, LIFFE. For further information please visit www.odlmarkets.com
About FXCM Holdings LLC:
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. For further information please visit www.fxcm.co.uk
Regulated by:
Financial Services Authority (United Kingdom)
Commodity Futures Trading Commission (United States);
A member of the National Futures Association (United States)
Securities and Futures Commission (Hong Kong)
Commissione Nazionale per le Società e la Borsa (Italy)
Australian Securities and Investments Commission (Australia)
Bundesanstalt für die Finanzdienstleistungsaufsicht (Germany)
Comité des Établissements de Crédit et des Entreprises d'Investissement (France)
Licensed by Dubai Multi Commodities Centre (Dubai)
A Broker Member on the Dubai Gold & Commodities Exchange (Dubai)
FXCM Holdings, LLC consists of FXCM Australia LTD., Forex Trading LLC, Forex Capital Markets LLC, Forex Capital Markets LTD, FXCM Asia LTD and FXCM DMCC.
- Ends -
NEWS FROM FXCM FOR 29-April-2010
FXCM King of The Micro Winner - 970% profit*
New York –April 28, 2010
To be King, you must have a strategy. That’s what put last month’s King of the Micro winner, Cao Yanhui on top. Yanhui, who lives in China, won $25,000 in the popular trading contest with an impressive profit of 970.43% by focusing primarily on the EURUSD currency pair. By targeting one pair, Yanhui was able to concentrate his efforts and ultimately win the competition. He largely did so by increasing his positions within a few days of the EUR fall, raking in considerable profits. Having traded forex for over three years, Yanhui’s trading preparation usually involves reviewing candlestick charts and analyzing forex commentary prior to placing trades. Although he takes trading seriously, Yanhui says he doesn’t take a loss to heart and believes his untroubled attitude is what has made him so successful. He would advise other traders to think the same way saying, “Don’t take results too seriously and enjoy the process.” View Yanhui's trading report and survey.
Coming in behind Yanhui was Luo Yupeng, who lives in the U.S., winning 841.76% with focus on the GBPUSD and EURGBP pairs. He has found success in forex by constantly reflecting on his greatest weaknesses and working to correct them. He considers perseverance, excellent reasoning skills, and an objective mindset to be the most important traits of a successful trader. Adegeye Oluwaseun, also from the U.S., followed Yupeng to take third place with 526.59% and trading as many as five currency pairs. He encourages others to, “stay focused on the end result you desire… and with time it can be attained.” View Yupeng and Oluwaseun's trading report and survey.
King of the Micro is a currency trading contest hosted by FXCM, which gives away cash prizes every month: $25,000 for the trader with the highest trading return, $10,000 to second, and $5,000 goes to third place.
For the past four years, King of the Micro has given traders around the world the chance to be King. In the past, winners have come from the U.S., China, Malaysia, Canada, and the U.K, among others. It’s free to enter and no registration is needed, making it easier than ever to hit it big. All you need to do is be an FXCM client with $500 in your Micro account at the beginning of each month, and you’re automatically entered. You also must make ten trades during the month to remain eligible.
For more information on the King of the Micro contest, to read the full contest rules, and to deposit money into your FXCM Micro account, click here.
FXCM Micro is a division of FXCM that provides new traders with access to the currency markets for as little as $25. With a small (1K) lot size, FXCM Micro provides a great way to get started in the forex market. FXCM Micro is offered for individual, self-traded accounts. All participants of the King of the Micro contest can receive the FXCM Power Course free to improve their chances to be the King.
FXCM Holdings, LLC Facts
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.
*Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Past performance is not necessarily indicative of future results.
Read more: DailyFX - King of the Micro Winner - 970% profit* http://www.dailyfx.com/forex/fxcm_news/2010-04-28-1851-King_of_the_Micro_Winner.html#ixzz0mQQfAc4v
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