E*TRADE Launches Retail Forex Trading
February 21 2012 - 8:05AM
Business Wire
E*TRADE Financial Corporation (NASDAQ: ETFC) and FXCM Inc.,
(NYSE: FXCM) announced today that E*TRADE FFX, LLC (“E*TRADE FX”)
will now offer customers access to global currency markets,
research and education through FXCM1, on the newly launched E*TRADE
FX platform.
E*TRADE FX customers will be able to trade seamlessly on the
E*TRADE FX no-fee platform, which includes:
- Advanced Charting: customizable
technical studies, analytics and indicators
- Quick Transfer: easily move
funds between E*TRADE brokerage or bank accounts and forex
accounts2
- News & Analysis: access to
international financial news and a comprehensive economic
calendar
- 56 Currency Pairs: choose from a
variety of major and minor pairs
- Leverage3: up to
50:1 leverage for major pairs and 20:1 for minors
- Forex Trading Specialists:
access to experienced forex professionals
- No Commissions4:
competitive spreads and fair execution
- Free Trading Education: live
in-person, on-line, and on-demand trading education
- Extended Trading Day: 24
hours-a-day, 5 days-a-week
- Practice Account: practice
trading forex risk free with live data
“Forex trading offers investors and traders the opportunity to
broaden and diversify their portfolios through access to a highly
liquid global market,” said Christopher Larkin, head of Retail
Trading and Client Services. “By offering industry-leading forex
technology and educational resources we are providing investors at
all levels with the ability to act on their opinions on global
currencies and to incorporate ‘cash’ as an asset class into their
portfolios in a new way.”
“FXCM is an industry leader in FX technology and providing
educational services. It was a natural fit for FXCM to provide
these services to E*TRADE and its customer base,” said Drew Niv,
CEO of FXCM. “We believe this is another step for the retail FX
industry in becoming more mainstream and well-known, especially in
the U.S.”
To find out more information on the E*TRADE FX offering please
visit: www.etrade.com/forex.
1Foreign exchange products are introduced by E*TRADE FFX, LLC
("E*TRADE FX"). E*TRADE FX is an Introducing Broker to Forex
Capital Markets, LLC ("FXCM"). FXCM will hold the account and the
respective funds and will act as the counterparty to foreign
exchange trades. FXCM is not affiliated with E*TRADE FX or its
affiliates.
2Quick Transfer will be available to E*TRADE FX customers on
March 1, 2012.
3Leverage can dramatically amplify your profits. It can also
just as dramatically amplify your losses. Trading foreign exchange
with any level of leverage may not be suitable for all
investors.
4Typically, foreign exchange costs are embedded in the spread.
E*TRADE FX is an Introducing Broker and is compensated through a
rebate for services from the spread between bid/ask prices.
About E*TRADE Financial
The E*TRADE Financial family of companies provides financial
services including online brokerage and related banking products
and services to retail investors. Specific business segments
include Trading and Investing and Balance Sheet Management. Foreign
exchange products are introduced by E*TRADE FFX, LLC (Member NFA).
Securities products and services are offered by E*TRADE Securities
LLC (Member FINRA/SIPC). Bank products and services are offered by
E*TRADE Bank, a Federal savings bank, Member FDIC, or its
subsidiaries. More information is available at www.etrade.com.
About FXCM Inc.
FXCM Inc. (NYSE: FXCM) is a global online provider of foreign
exchange (forex) trading and related services to retail and
institutional customers worldwide.
At the heart of FXCM's client offering is No Dealing Desk forex
trading. Clients benefit from FXCM's large network of forex
liquidity providers enabling FXCM to offer competitive spreads on
major currency pairs. Clients have the advantage of mobile trading,
one-click order execution, and trading from real-time charts. In
addition, FXCM offers educational courses on forex trading and
provides free news and market research through DailyFX.com.
Trading foreign exchange on margin carries a high level of risk
and may not be suitable for all. Read full disclaimer.
All references to "FXCM" refer to FXCM Inc. and its consolidated
subsidiaries.
Important Notices
E*TRADE Financial, E*TRADE and the E*TRADE logo are trademarks
or registered trademarks of E*TRADE Financial Corporation.
ETFC-G
© 2012 E*TRADE Financial Corporation. All rights reserved.
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