IG US Forex trading to be rebranded as tastyfx

Margin trading broker IG Group continues to reshape its US operations and has announced that it will rebrand its FX business. IG’s US FX business will be rebranded as tastyFX to fall in line with its other US operations

Why tastyFX?

IG Group bought tastytrade in 2021. The London-listed broker spent $1.0 billion on the acquisition of the options brokerage and education business, which had been founded in 2017 by former CBOE floor traders Tom Sosnoff and Scott Sheridan.

This is the same duo that were behind thinkorswim, which was sold to TD Ameritrade in 2009 for $606.0 million. And which was ultimately acquired by Charles Schwab, through its purchase of TD Ameritrade in 2019.

Why did IG Group buy tastytrade?

Before it acquired tastytrade IG had had very little presence in the US.

In Europe, IG specialises in offering and trading leveraged OTC derivatives to retail clients.

However that business segment does not exist in the US, and IG had very little expertise in trading on exchange derivative products.

Acquiring tastytrade provided IG with a well-known brand name, in the US retail derivative space, and much-needed expertise in on-exchange trading.

tastytrade growing revenues

In its third-quarter revenue update published in March, IG revealed that tastytrade had delivered record revenues of $62.60 million, up by some +8.0% over the prior quarter and +15.0% higher, than in the prior year.

As of March, tastytrade had generated revenues of $180.4 million, in the financial year ending May 2024.

IG will report its full-year results on July 24th and the company recently announced that it would launch the tastytrade brand into the UK and opened a waiting list for interested clients.

For its part, tastytrade has partnered with the Unusual Whales trading community to allow its members to trade options via a tastytrade account.

Unusual Whales specialises in monitoring options order flow and highlighting outsize or unusual trades.

In April, tastytrade opened new offices in Chicago taking 35000 square feet of space at 1330 West Fulton Street.

Is IG forex available in the US?

Yes, IG is one of only a handful of forex brokers regulated in the US, but going forward, it will be known as Tastyfx. Since expanding in the US with the acquisition of Tastytrade for options traders they now compete with forex.com for retail forex traders. Both forex.com and IG offer the same platform as they do in their UK HQ, but forex.com offer slightly more forex trading signals and also has some very good post-trade analytic tools. But unlike IG in the UK, you cannot buy stocks and shares with IG in the US.

IG US Forex Trading Review

Name: IG US Forex Trading

Description: IG, a global provider of online trading services, started offering forex trading in America in 2019. Prior to 2019, IG primarily focused on providing trading services in other regions, including Europe, Asia, and Australia. However, in 2019, IG expanded its operations to include forex trading services for US residents, allowing American traders to access the forex market through their platform.

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Summary

IG has a reputation for competitive spreads, a wide range of currency pairs, and advanced trading technology, IG has become a popular choice for forex traders in the United States.

IG US Address: IG, 200 W Jackson Blvd Suite 1450, Chicago, IL 60606, United States

Pros

• Wide market range
• Excellent liquidity
• Listed on the London Stock Exchange

Cons

• No DMA futures trading

• Pricing
  (4)
• Market Access
  (4)
• Online Platform
  (4)
• Customer Service
  (4.5)
• Research & Analysis
  (4)

Overall

4.1

• Expert opinion: IG US reviewed & rated