FXCM buys Hotspot's retail FX business
NEW YORK - Hotspot has joined the spate of retail foreign exchange providers exiting the US retail FX market, a year after re-entering, by selling off elements of its US retail FX trading business to FXCM.
The higher regulatory capital required to run a retail FX business in the country has seen international brokers, including London-based ODL Securities and Geneva-based AC-Markets, abandon the US (FX Week, January 12 & 19).
The electronic communications network (ECN) sold parts of its retail
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