UK online trading leader IG Group has unveiled the launch of IG US, its US-based subsidiary which will be offering foreign exchange services.
This move will allow IG Group to re-enter the US market, since its subsidiary IG Markets exited this market in 2011 due to CFTC penalties.
Obtaining the necessary approvals
IG US LLC secured a number of approvals since October 15, 2018. It became officially registered as Retail Foreign Exchange Dealer (RFED), and Introducing Broker.
In addition, it was approved as Forex Dealer Member, NFA Member and Forex Firm.
“At IG we pride ourselves on championing the client, I am excited to bring that same focus to serve the United States market. We see this initiative as a significant growth opportunity and we’re exicted about IG’s future in the US,” said June Felix, IG Group CEO.
The newly launched website of the IG US tells that it’s time to turn Forex trading on its head.
There is a small number of retail forex brokers currently offering their services in the US retail forex market, OANDA and GAIN Capital are some examples.
“The US forex market has been fairly stagnant and underserved. We are entering the market with an unrivalled offering, providing excellent client choice. We will offer US traders better pricing with 24-hour customer support on a newly designed platform – a better way to trade forex. It’s really exciting time for IG,” said Rupert Osborne, CEO at IG US.
After acquiring DailyFX from FXCM for $40 million in 2016, IG Group obtained a significant asset to onboard US clients.
About IG Group
Founded in 1974, IG Group is one of the world’s largest online brokers for spread betting and CFD trading. IG offers traders access to over 15,000 products across multiple asset classes, including forex, indices, bonds, commodities, CFDs on shares, cryptocurrencies, and provides access to other global markets. Currently, IG serves more than 195,000 active clients, via its 14 global offices and 1,500 staff.