PLANTATION, Fla., Sept. 5, 2014 (GLOBE NEWSWIRE) -- TradeStation, a Monex Group company (TSE:8698), today announced an agreement between its IBFX, Inc. and IBFX Australia Pty Ltd subsidiaries, and a subsidiary of FXCM Inc. (NYSE:FXCM), to transfer all retail accounts in the "MetaTrader/MT4" division of their forex businesses to FXCM. The transfer is expected to be completed by the end of September, and the financial terms of the transaction were not disclosed. IBFX and FXCM will be working closely to ensure that the transfer of the MT4 customer accounts is as seamless as possible without any undue interruptions or inconvenience for customers. FXCM, as a leading global provider of retail forex trading, has vast experience servicing customers who choose to use the MT4 platform.
"For some time now we have supported two forex business lines, MT4 and TradeStation, and have decided that we should focus solely on our award-winning TradeStation platform offerings and not dilute our brand or message," said, Gary Weiss, President of IBFX. "TradeStation's success over the past 15 years is thanks to the unique and differentiating features and functions TradeStation offers, and this move will enable us to focus our resources on continuing that success."
About TradeStation
TradeStation is an award-winning online brokerage firm and trading platform. In the March 2014 Barron's magazine review of 20 online brokers, TradeStation received the highest star rating for both "Best for Frequent Traders" and "Best for International Traders." Barron's noted that TradeStation "continues to lead the way for frequent traders." TradeStation also recently topped all other brokers for "Best Platform Technology" for the second consecutive year in the Online Broker Review conducted by StockBrokers.com. TradeStation also received a "Best in Class" rating in the Platform & Tools category for the third consecutive year, a "Best in Class" rating in the Active Trading category for the fourth consecutive year, and a "Best in Class" rating in the Options Trading category. For more details, visit TradeStation's Awards page.
TradeStation Group, Inc., through its operating subsidiaries, offers analytical and trading platforms to the active trader and certain institutional trader markets. The TradeStation platform offers electronic order execution and enables clients to design, test, optimize, monitor and automate their own custom equities, options, futures and forex trading strategies. TradeStation Group is a wholly owned subsidiary of Monex Group, one of the largest online financial services providers in Japan.