IBFX Holdings, parent company of US broker Interbank FX, has announced that they are opening an Australian subsidiary in Sydney.
IBFX Australia has been granted full licensing by the Australian Securities and Investment Commission. It will offer FX services for both retail and institutional customers from September 1.
With the Dodd-Frank reform bill pushing trade onto exchanges and clearing houses, US-based brokers have an uncertain future unless they are able to build a strong business offshore. Perhaps IBFX took their cue from someone else we wrote about: FXCM bought up the UK and European arm of ODL back in May this year.
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