FXCM to Acquire Japanese Forex Broker Foreland Forex Co., Ltd.
NEW YORK, NY - September 14, 2011 --FXCM Inc. (NYSE: FXCM), a leading online provider of foreign exchange, (“FX”), trading and related services worldwide, today announced that its subsidiary FXCM Japan Securities Co., Ltd. (“FXCM Japan”) has agreed on terms to acquire Japanese FX broker Foreland Forex Co., Ltd. (“Foreland”), subject to certain adjustments. The agreement is subject to final documentation and is anticipated to be completed in the first half of October.
Foreland is one of the oldest and most established Japanese FX brokers, offering retail FX trading since 2001. They have established a reputation for offering attractive swap points, competitive spreads, and aiming to expand a customer’s trading life by offering market commentary and analysis, education and trading tools. As of September 1, 2011 Foreland had over 18,500 tradable accounts* with client equity of over $190 million. When combined with FXCM Japan’s over 25,700 tradable accounts* and over $159 million in client equity, the result is one of the largest retail FX brokers in Japan.