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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.  

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@Caseynotes,

Ah I thought DailyFX was familiar but could not put my finger on it. Many years ago I used to use FXCM. I may still have an account with them.

It will be interesting to see the revenues generated from the US market and how much impact this can have on IG's overall turnover. 

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

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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 ?

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@Caseynotes,

That is very interesting.

So does this mean UK IG Clients can trade FX using US account? What would be the benefits? Reduced FX charges?

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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

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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... 

Edited by PandaFace

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