No you cannot trade forex in the US with IG directly, however, you can trade forex through TastyTrade which is owned by IG.
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 did 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 20204 , 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.
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 2024, Tastytrade opened new offices in Chicago taking 35000 square feet of space at 1330 West Fulton Street.
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