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FX Solutions merges with IFX Markets

02 October 2008  |  3497 views  |  0 Source: FX Solutions

FX Solutions, LLC today announced the merger of IFX Markets Inc. into FX Solutions.

Both companies are wholly owned subsidiaries of City Index Group. As a result of the merger, IFX Markets customer accounts will transfer to FX Solutions, effective immediately. FX Solutions will now serve over 50,000 individual currency traders, making it one of the industry's largest foreign exchange brokerages. FX Solutions provides foreign exchange trading capabilities to retail customers, introducing brokers and white label partners in over 50 countries worldwide.

"The entire team at FX Solutions is very excited to merge with IFX Markets, a solid niche player in the Forex space," said Robert Cortright, co-founder and co-CEO of FX Solutions. "Our merger with IFX will result in a win-win situation for both companies and our respective customers. Combined, we have more to offer than as separate companies. For example, I think IFX customers are going to be very pleased with the extra customer support and the benefits of the GTS platform, like trading directly from the charts and mobile trading."

IFX Markets customers who trade on the popular GTS platform will find a number of unique features designed to improve their trading:
  • Fixed Spreads - In all market conditions, even fast-moving or volatile markets[i]
  • Streaming Interbank Market Prices - Only retail Forex broker to have an exclusive data sharing partnership with ICAP plc for the institutional EBS price feed
  • Automatic Execution - 98.72% of all orders are automatically executed and never touched by a human dealer[ii]
  • Leverage - 50:1 to 400:1[iii]
  • Multiple Order Types - Offers buy entry stops, buy entry limits, sell entry stops, sell entry limits and market orders
  • Integrated Risk Management - Allows up to five stops and limits per order, including trailing stops
  • Trade anytime, anywhere - Accessible through a single username and password for GTS Pro, GTS Web, GTS Mobile and FX AccuCharts.

    Clive Cooke, CEO of City Index, said, "Upon our acquisition of FX Solutions in February of this thhis year, we believed that marrying the unique strengths of each of these entities would create the premier Forex broker in terms of capabilities, trading platform and geographic reach. We are very excited by the prospects of this combined firm."

    [i] While we strive to display fixed price spreads at all times, there may be occasions, however rare, where a significant market or world event may force us to widen spreads without prior notice to our clients.
    [ii] For the time period of April 1, 2008 through June 30, 2008.
    [iii]During normal market hours whenever the markets are open (Sunday 17:15 to Friday 16:30 Eastern Time).
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