FXCM

Online trading group AvaTrade has agreed to buy most of FXCM, the pioneering retail foreign exchange broker that was once among the biggest names in the industry. The acquisition marks another consolidation step in the crowded retail FX sector, where brokers face tighter regulation and rising competition, and hands AvaTrade a well-known legacy brand.

Spread betting and CFD broker Trade Nation has agreed to acquire FXCM's UK retail client base, taking over the British retail accounts of the foreign exchange brand. The move consolidates Trade Nation's position in the UK retail trading market while FXCM continues to wind down its British retail presence. Client migration details and terms of the deal have not yet been disclosed.