TradeStation announced in a press release yesterday afternoon that it has decided to exit the Forex business. All TradeStation Forex (IBFX) accounts will be acquired by OANDA. The transfer is set to occur on Friday evening, March 4.
Starting on March 5th, TradeStation Technologies will offer to the IBFX customers who move to OANDA subscriptions for a real-time TradeStation FX platform integrated with OANDA’s forex price feed. That will allow customers to continue to continue to research and analyze on TradeStation FX before placing trades as OANDA clients on their new OANDA order execution platform.
Ed Eger, President and CEO of OANDA Global Corporation, said that the shared values between TradeStation and OANDA were a key reason for striking this deal. He also said that the company has arranged for introductory free access for some of their advanced services to these new clients.
John Bartleman, President of IBFX and TradeStation Securities, said he is confident TradeStation Forex clients will be well served. Bartleman also said, “Forex has always been a small part of our business, and now we will be able to focus all of our online brokerage resources on TradeStation Securities equities, options, and futures business, and our forex clients will have the benefit of of being served by a firm that dedicates its focus to forex trading.”
For the full press release click here.