IBFXInterbank FX (foreign exchange)
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TSG will combine in the next 30 days Interbank FX with its retail foreign exchange dealer TradeStation Forex Inc and will operate the acquired company as the IBFX division of TradeStation Forex, the buyer said.
Following the deal, IBFX Australia Pty Ltd will also become a TSG unit.
IBFX Holdings LLC comprises the Interbank FX group of companies including Interbank FX LLC and IBFX Australia Pty Ltd.Country: , USA, AustraliaSector: Banking/Financial Services, IT/Online ServicesTarget: IBFX Holdings LLC , IBFX Australia Pty Ltd, Interbank FX LLCBuyer: TradeStation Group IncVendor: IBFX membersType: Corporate acquisitionStatus: Closed
The IBFX group of companies continues to provide customers with trade (http://www.ibfx.com/Trade/Performance) performance metrics , depicting fast and reliable execution in addition to low spreads.
"As we continue to advance our footprint across the globe, we are beyond grateful to be recognized by the IB Times for these distinguished awards,"said Todd Crosland, Chairman and President of the IBFX group of companies.
The IBFX group of companies is owned by IBFX Holdings LLC and includes: Interbank FX LLC and IBFX Australia Pty Ltd.
"Now, investors in 140 countries using the IBFX platform will be able to react faster with exclusive market intelligence and real-time information.
IBFX has contracted for FX Select, DN Forex News in Arabic, DJ Chinese Forex Service, and DJ Forex Russian Service.
Dow Jones FX Select will be available to all IBFX live account holders at no charge.
"Because of the strong relationship that exists between IBFX and our liquidity providers, banks have a stronger incentive to provide our platform with deep liquidity, meaning faster and simpler trade execution for our clients," says Crosland.
Crosland's years fine tuning the technology and relationships with IBFX banking partners, though, resulted in a net revenue leap of $33.3 million dollars from $104,509 in five years, a record even for Wall Street standards.
IBFX's vision includes plans to turn the company into an FDIC insured national bank and refining their trading technology and execution with hopes of being placed within the top three retail Forex brokerages in the world.