Forex Magnates has learned that Alpari is exiting the US market, and will be withdrawing its FCM registration with the NFA. According to sources, US accounts will be transferred to FXCM.
The news follows speculation, that the broker was planning to leave the US amid contracting business. In terms of their dwindling business, earlier this month, on CFTC FCM financials, that showed Alpari’s retail forex deposits declining, even as much of the rest of the industry was experiencing gains in accounts and asset sizes during 2013. In terms of the relationship with FXCM, the broker’s CEO, Drew Niv, with another large player during an interview with Forex Magnates, following the firm’s second quarter earnings reports.
As the story develops, Forex Magnates will provide updates as we receive more information.
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