FXCM sells DailyFX to IG for $40m

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FXCM the US broker who’s share price took a battering when the CHF cap was removed has sold DAILY FX to IG, the largest spread betting broker in the UK for $40m.

IG which claims to have around 150,000 active clients will add the FX and news research portal to aid new client acquisition. FXCM has around 200,000 customers in the US and IG hopes the deal will also help with client retention.

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Despite the large sale FXCM is only capitalized on the NASDAQ stock exchange at $47m whilst IG maintains one of the largest values for a financial service provider in the UK, currently £3.1bn.


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