FXCM buys I-Trade customers

WASHINGTON, DC - FXCM has made its third acquisition in the US retail forex market this year, as stringent regulatory requirements drive smaller brokers out.

"It is a continuing story of more people exiting the FX trading side in the US market, forcing consolidation," said Drew Niv, FXCM's chief executive in New York.

The New York-based broker bought approximately 3,000 customers from Washington DC-based I-Trade last week. I-Trade had acquired the bulk of those clients from Forefront Investments

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