FXCM to Assume Retail Forex Accounts of Alpari U.S.
NEW YORK--(BUSINESS WIRE)-- FXCM Inc. (NYSE: FXCM), a leading online provider of foreign exchange (forex) trading and related services to retail and institutional customers world-wide, announced today that its U.S. subsidiary Forex Capital Markets LLC ("FXCM U.S.") has agreed to assume the forex accounts of Alpari US LLC., ("Alpari U.S.").
On Friday, September 27, 2013, accepted Alpari U.S. accounts will be transferred to FXCM U.S. after the close of trading.
After a detailed market review, Alpari selected FXCM because of their strong U.S. presence, financial stability, platform synergies and execution capability. Alpari U.S. clients will be transitioned from Alpari's MetaTrader 4 ("MT4") platform to the FXCM MT4 Platform and should see minimal changes in platform functionality. FXCM's upgraded MT4 platform integrates seamlessly with its No Dealing Desk forex execution.
The deal affects all U.S. resident MT4 clients of Alpari US LLC.
Financial terms of the transaction were not disclosed.
Disclosure Regarding Forward-Looking Statements
In addition to historical information, this release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which reflect FXCM Inc.'s current views with respect to, among other things, its operations and financial performance for the future. You can identify these forward-looking statements by the use of words such as "outlook," "believes,""expects," "potential," "continues," "may," "will," "should," "seeks," "approximately," "predicts," "intends," "plans," "estimates," "anticipates" or the negative version of these words or other comparable words. Such forward-looking statements are subject to various risks and uncertainties. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. FXCM Inc. believes these factors include but are not limited to evolving legal and regulatory requirements of the FX industry, the limited operating history of the FX industry, risks related to the protection of its proprietary technology, risks related to its dependence on FX market makers, market conditions and those other risks described under "Risk Factors" in FXCM Inc.'s Annual Report on Form 10-K and other SEC filings, which are accessible on the SEC website at sec.gov.
These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this presentation and in our SEC filings. FXCM Inc. undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law.
About FXCM Inc.
At the heart of FXCM's client offering is No Dealing Desk forex trading. Clients benefit from FXCM's large network of forex liquidity providers enabling FXCM to offer competitive spreads on major currency pairs. Clients have the advantage of mobile trading, one-click order execution and trading from real-time charts. FXCM's U.K. subsidiary, Forex Capital Markets Limited, also offers CFD products with no re-quote trading and allows clients to trade oil, gold, silver and stock indices along with forex on one platform. In addition, FXCM offers educational courses on forex trading and provides free news and market research through DailyFX.com.
Trading foreign exchange and CFDs on margin carries a high level of risk, and may not be suitable for all. Read full disclaimer.
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