AvaTrade agrees to acquire majority of FXCM business
AvaTrade has agreed to acquire the majority of FXCM Group’s business and brand, bringing them under the global framework of the AvaTrade Group. AvaTrade announced the agreement in Dublin on 9 October.
According to AvaTrade, relevant FXCM clients will gain access to AvaTrade’s platforms, AI-powered tools and multi-asset offering.
FXCM was founded in 1999 and was a pioneer of forex trading for retail investors, building a global client base over more than two decades. AvaTrade was founded in 2006; it offers futures, options and CFDs on forex, commodities, indices, stocks and crypto-related products, as well as copy trading, and says it is regulated across multiple international jurisdictions.
AvaTrade describes the acquisition as the latest in a series of strategic moves to expand its presence in online trading. It follows the launch of the AvaTrade Group’s AI-powered trading platform and several technology-focused initiatives, which the company says reflect continued investment in technology, infrastructure and specialist talent as it scales its international operations.
“Our ambition is to help shape the next phase of global online trading,”
said Daire Ferguson, CEO of AvaTrade.
“This transaction represents a significant further step toward realising that ambition. By combining FXCM’s established market presence with AvaTrade’s technology and product innovation, we aim to expand our global reach and build a stronger, more diversified trading group.”
Ferguson added: “This agreement supports our strategy to expand internationally, broaden our multi-asset offering and continue to invest in technology, including AI, to support traders at every experience level.”
