AvaTrade Acquires Majority of FXCM in Landmark Consolidation Play

AvaTrade has agreed to acquire the majority of FXCM, a transaction presented as a landmark consolidation move in the retail forex and CFD brokerage industry. The deal leads a daily round-up of company, regulatory and market developments, and no financial terms for the transaction were included in the summary.

Both firms are long-established names in retail currency trading. A separate item in the same round-up reports that Trade Nation has bought FXCM's UK client book, suggesting the UK customer base is being carved out as part of the broader reshuffling of the business.

Other items in the round-up

NAGA secured $8 million in new financing, while Wise is seeking a tax settlement in the UK. XTB expanded its overnight trading in US stocks, and Fortrade reported higher revenue.

On the investment and infrastructure side, Nasdaq Ventures put money into One Trading, and Vest Labs raised $13 million. Devexperts named a new CEO, and Saxo Bank cut the time required for client onboarding.

In crypto, OKX was reported to have reached a $25 billion valuation. In markets, the founder of CMC downplayed the hit from subdued volatility, which the recap said is weighing on brokers more broadly. Trading 212 reported revenue growth of 70%, and the CFTC moved to permit perpetual index futures.

The items together sketch a sector in flux: consolidation at the top of the retail FX market, fresh capital for smaller brokers and infrastructure providers, and rule changes that could widen the range of products available to traders. The recap offered headline detail rather than full terms for the transactions and appointments it covered.