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OANDA acquires TradeStation's forex trading accounts

Published 2016-02-24, 10:50 a/m
© Reuters. OANDA acquires TradeStation's forex trading accounts

By Dion Rabouin
Feb 24 (Reuters) - Online currency broker OANDA announced on
Wednesday that the company has acquired all of the foreign
exchange trading accounts of IBFX, Inc, also known as
TradeStation Forex.
IBFX is a unit of TradeStation Group, Inc.
The announcement comes as IBFX exits the forex dealer
business, with the transfer scheduled to take place on March 4.
The financial terms of the deal were not disclosed.
"Our shared values on these crucial matters were a key
reason for striking this deal, rather than any others we've
recently considered," said OANDA President and CEO Ed Eger.
"These new clients join a rapidly growing OANDA community at
a time when market volatility is high."
Eger added that the company would offer free introductory
access to some of its advanced services for certain traders.
Starting on March 5, TradeStation Technologies will offer
IBFX customers who move to OANDA subscriptions for a real-time
TradeStation FX platform integrated with OANDA's forex price
feed.
This will allow those customers to continue to perform
research and analysis on TradeStation FX, including charting and
strategy design, before placing trades as OANDA clients on
OANDA's order execution platform, the company said in a
statement.
"Forex has always been a small part of our business and now
we will be able to focus all of our online brokerage resources
on TradeStation Securities' equities, options and futures
business," said John Bartleman, President of IBFX and
TradeStation Securities.
"Our forex clients will have the benefit of being served by
a firm that dedicates its focus to forex trading."

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