Alpari US Retail Clients Move to FXCM

In a news release yesterday FXCM announced that:

Its U.S. subsidiary Forex Capital Markets LLC has agreed to assume the forex accounts of Alpari US LLC.

On Friday, September 27, 2013, accepted Alpari U.S. accounts will be transferred to FXCM U.S. after the close of trading.

After a detailed market review, Alpari selected FXCM because of their strong U.S. presence, financial stability, platform synergies and execution capability. Alpari U.S. clients will be transitioned from Alpari’s MetaTrader 4 (“MT4”) platform to the FXCM MT4 Platform and should see minimal changes in platform functionality. FXCM’s upgraded MT4 platform integrates seamlessly with its No Dealing Desk forex execution.

The deal affects all U.S. resident MT4 clients of Alpari US LLC.

Financial terms of the transaction were not disclosed.

At this time the Alpari U.S. web site remains strangely silent on the matter.