FX news: FXCM continues international expansion
FX platform Forex Capital Markets announced the opening of a Berlin office on Wednesday. This is the sixth new FXCM office opened since January 2009, following Paris, Sydney, Dubai, Milan and Santiago.
Ornit Niv, FXCM’s president of international affairs, says: “I am very pleased to announce the opening of our German office because forex traders in this region have enjoyed FXCM’s No Dealing Desk and no re-quotes for quite a while. We are adamant that we will serve the trading community here with excellent customer service, research and charting technology that offers exemplary order execution.”
It can’t be a coincidence that FXCM began its global expansion when the first of the CFTC’s hikes in capital requirements was implemented (to $15 million in January 2009, subsequently rising to $20 million in May 2009). As one of the best-capitalized providers, it will be interesting to see how the company responds if the CFTC follows through with its more stringent capital and leverage proposals.