Interactive Brokers to leave US retail FX
Move will see the number of firms in the space dwindle to four
Interactive Brokers (IB) is set to pull out of the US retail foreign exchange market as of September 1, citing an overly restrictive regulatory environment, in a decision that will have an impact on nearly 2,000 account holders.
The move will leave only about four major retail brokers to service US clients, down from 17 in late 2010. IB notified its clients during the week of August 8 that accounts with a net worth of less than $10 million will not be serviced after the cut-off date.
"IB made a
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