MG Financial will transfer its 4,000 FX customers to FOREX.com, the retail division of GAIN Capital in an agreement reached this week. MG has been offering online trading services since 1997 but has decided to exit the retail FX industry and cease operations.
With a mere 4,000 accounts, and increased capital and registration requirements and restrictions imposed on leverage, retail FX will no longer have looked as economically feasible to MG as it does to the larger players such as Gain and FXCM.
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