Housekeeping for FXSol and IFX
On the face of it, the merger of FX Solutions and IFX Markets marks another stage in the consolidation of the retail FX industry in the US. However, with both companies wholly owned subsidiaries of City Index since February, it looks more like prudent housekeeping that removes the need to post two tranches of capital with the CFTC. Following the merger, IFX Markets’ customer accounts will transfer to FX Solutions with immediate effect. The combined company will service more than 50,000 accounts.