Forex Capital Markets LLC announced it has reached an agreement to acquire the U.S. and international retail forex clients of i-Trade FX. Subject to regulatory approval, accounts are expected to be transferred from i-Trade FX to FXCM on May 8, 2009.
Like several other forex firms, i-Trade FX has decided to cease offering service to US retail clients. Other firms that have decided to exit the U.S. retail business include ODL Securities, Hotspot FX, and CMC Markets. To offer retail forex trading services under NFA rules, Forex Dealer Members (FDMs) will be required to have a minimum of $20 Million in firm capital as of May 16, 2009.
i-Trade FX, a registered Futures Commission Merchant (FCM) with the U.S. Commodity Futures Trading Commission (CFTC), and a member of the National Futures Association (NFA), regards FXCM as a leader in the retail forex community and believes that FXCM offers clients excellent execution and customer service.
FXCM considers i-Trade FX a strong broker with an innovative touch. FXCM recognizes the many attributes i-Trade FX brings to the industry. i-Trade FX is diligently working with FXCM to make the transition as smooth as possible for all affected clients.
FXCM welcomes all clients from i-Trade FX. Most clients will benefit from FXCM’s Standard account features of low spreads as low as 1 pip and No Dealing Desk execution.* i-Trade FX clients using the MetaTrader4 (MT4) trading platform will continue to be able to use MT4. FXCM’s version of the MT4 platform offers No Dealing Desk execution and fractional pip pricing. FXCM also has a dedicated MT4 support team to help clients transition their accounts.
FXCM, with over $100 Million, has one of the largest amounts in firm capital.† FXCM was founded in the United States and has offices, partners, and affiliates in the world’s major financial centers, uniquely positioning FXCM to provide exceptional service to traders around the world. Furthermore, FXCM is regulated in the U.S., the U.K., France, Australia, UAE, Hong Kong, and Canada. FXCM’s domestic offices are located in New York, NY; Plano, TX; and San Francisco, CA; FXCM’s international offices include Hong Kong, Paris, Dubai, London, and Sydney.
FXCM will provide regular updates to clients throughout the transfer. FXCM staff is available to answer questions about the transition and can be contacted 7 days a week 24 hours a day via phone, e-mail and chat.
|Digits after the dot in quotes||4|
|Minimum position size||0.01|
|Pip spread on majors||1-3|
|Standard account, $||100|
|Mini account, $||100|
|Other payment methods|
|Popular payment methods||Credit Cards, Wire Transfer, WebMoney|
|Account currencies||USD, EUR, JPY, GBP|
Not operating! All services disabled since Itrade couldn’t cover security deposit as required by regulators and became undercapitalized. Then all active accounts of this broker were acquired by FXCM. I would say that I had the same experience as many other customers. Most their customers complained that execution was too slow. You can assume delays up to 5-10 secs in instant orders execution. Sometimes it was 5 seconds, sometimes it was much longer… It didn’t matter if you traded manually or by expert advisers. I’ve heard that founders founded new fx firm called eforex after liquidation of itrade fx. So be careful if you are a customer of that new brokerage firm.
Their demo account shows impressive profits, but my live account with exact same parameters is negative. Wrong trades at wrong times, requotes, etc. and I am using a robot. Need to change brokers.
Realistic Spreads, Great Customer Service, and a quality platform. I have traded at a lot of places and I think I have finally found my home
No complaints. Fair spreads and very good customer service. I had a stop be slipped once and I called and they reimburssed me for it. The platform is pretty basic and very easy to get use to. Way better than FXCM. The only other broker that I've used that made me this happy was GFT.
Amazing brokers. I've never had one issue at all with them. Low spreads and my trades are executed instantly. Amazing customer service and a very easy software platform to use. I laugh when I see people put comments like they are a rip off. How can they be a rip off when they aren't selling anything? I've been trading for three years and I've never been so satisfied with a broker like I am with ITradeFX. I've recommended four friends to them and will keep them coming.