IG US Startup

[Caseynotes]

IG sets up FX brokerage wing in the US.

https://financefeeds.com/ig-tells-america-time-turn-forex-trading-head/

[andysinclair]

Ah, that explains why they are the "Gold Sponsor" at an upcoming trading conference in New York, they are trying to crack the US market...

[Caseynotes]

That's right @TrendFollower,  FXCM never really recovered after being badly damaged by when the Swiss bank removed the dollar peg catching out brokers and traders alike. FXCM lost their US licence and needed a financial bail out but I noticed recently the company that provided the bail out are now themselves in financial trouble.

So IG has snapped up DailyFX (which was previously associated with FXCM) and are now slipping into FXCM's shoes. They were a relatively large US broker so the market is promising.  

[phillo]

Looking forward to the possibility of an IG  US share options platform then

[Caseynotes]

Just looked at the US site and noted my login details pre-loaded.

https://www.ig.com/us/welcome-page

 

[phillo]

I always found , being in the UK , that I could never open a trading account in the USA. I wonder if the rules have, or are changing ?

[Caseynotes]

@elle,  see pic,  still only FX at the mo though. 

[Caseynotes]

@TrendFollower,  not sure there would be any benefits for FX trading, @elle was interested in US stock options which are not currently available.

US FX $10/point min,  ave spread 0.9,  margin 2% for eurusd and 5% for gbpusd.

https://www.ig.com/us/forex-trading-costs

[trade247]

14 hours ago, andysinclair said:

Ah, that explains why they are the "Gold Sponsor" at an upcoming trading conference in New York, they are trying to crack the US market...

lol - don't know if i'd be bidding on that...

 

[trade247]

1 hour ago, Caseynotes said:

@TrendFollower,  not sure there would be any benefits for FX trading, @elle was interested in US stock options which are not currently available.

US FX $10/point min,  ave spread 0.9,  margin 2% for eurusd and 5% for gbpusd.

https://www.ig.com/us/forex-trading-costs

also given the relatively recent options view in spread betting on the other assets, it's not wholly unrealistic that shares opotions aren't on the cards somewhere

[Guest PandaFace]

Interesting. Always wondered why they never target this space. I would go in with a full options offering as well! You go in stock twits etc and every American is talking about options and calls and puts etc. I think it’s necause of regs around otc companies like IG but if that’s the case why did fxcm do it? 

IG are near 30% smaller spreads! Wonder what that’ll do to their competitors over there...