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Exclusive: Trade Nation acquires FXCM's UK client book. * "The thing we liked about the FXCM book is that it has a lot of FX business [and] longevity," said Trade Nation's Chief Strategy Officer and UK CEO. * AvaTrade will reportedly buy the majority of FXCM's remaining assets, though the acquisition has been underway for months. Trade Nation has acquired the UK client book of legacy trading brand FXCM for an undisclosed sum, Finance Magnates has learned. "The thing we liked about the FXCM book is that it has a lot of FX business [and] longevity," explained Matthew Wright, Trade Nation's Chief Strategy Officer and UK CEO. While the acquisition is expected to enhance the broker's UK operations significantly, Wright stopped short of calling the deal an immediate group-level multiplier, noting instead that the broker paid a "sensible price" for a highly synergistic asset. Indeed, Trade Nation's CEO John Noble called this deal "a significant step" for the broker, adding that "there is more to come." The transfer is expected to be completed in late November 2026, following a carefully managed transition plan developed by both firms. What did Trade Nation actually buy? Trade Nation's successful bid - several brokers wanted the UK book - was a quick turnaround after only entering the process in July. Kypros Zoumidou, Trade Nation's Managing Director, highlighted that winning the bid was bolstered by an established relationship with FXCM leadership, notably CEO Brendan Callan. "We were on the list, but the fact that we have a relationship with Brendan is a helpful one," he added. The acquired book consists mainly of retail traders with a small segment of professional clients that aligns directly with Trade Nation's pro offering. Though small in absolute numbers, the professional clients yield outsized revenue and, in terms of expected value, Zoumidou noted that this cohort vastly outperforms its headcount. Who's buying the rest? The swift sale of FXCM's UK book to Trade Nation stands in contrast to the broader, more arduous effort to offload the entire firm. For months, Jefferies, owner of FXCM's parent company, Stratos Group International, has been exploring a sale, with AvaTrade allegedly floating an earlier bid for the majority of the broker's assets, Finance Magnates had reported exclusivly. Founded in 1999, FXCM was a pioneer in retail forex, listing on the New York Stock Exchange in 2010. However, the brokerage was crippled by the January 2015 Swiss franc crisis, which wiped out US$225 million in client equity and forced a US$300 million rescue from Jefferies. Jefferies formally assumed full ownership in late 2023 by foreclosing on FXCM's defaulted parent company, subsequently rebranding the firm as Stratos. The group's recent attempts to pivot have faced headwinds; earlier this year, its newly launched sister brand, Tradu, halted new client onboarding and began migrating existing users back to FXCM. Whether AvaTrade will be the ultimate buyer remains uncertain, as does the possibility of another party coming in late to seal the fate of what was once a dominant force in the CFD industry. Adonis Adoni is a News Editor at Finance Magnates, with more than six years of experience covering the financial services industry, technology, and their intersection. His work includes C-suite interviews with leading technology and fintech companies across Europe, the US and Asia, exclusive coverage of M&A activity and capital raising, and data-driven industry reporting, with a strong emphasis on engagement and clear storytelling. Areas of Coverage: Online trading industry news Fintech companies Digital assets and crypto markets Regulatory and compliance developments Executive interviews Education: BA in Law - Nottingham Trent University LLM in Health Law - Nottingham Trent University * 116 Articles * 2 Followers Arnab Shome is an electronics engineer-turned-financial editor. He holds a Bachelor of Technology from the National Institute of Technology, Agartala. He entered the retail trading industry about a decade ago, covering the cryptocurrency market for Finance Magnates, and later expanded his coverage to include forex and CFDs as well. His work at Finance Magnates includes C-level interviews, data-driven analysis, opinion pieces, and scoops of industry exclusives. He also contributes to Finance Magnates' quarterly industry report. Area of coverage: 1. CFD broker-related news 2. Industry-related Regulatory updates and developments 3. New retail trading trends 4. Prop trading industry updates 5. Executive interviews Education: Bachelor of Technology - National Institute of Technology, Agartala (India) * 7460 Articles * 142 Followers

IG's Karman Wong set to join Trade Nation as Commercial Director, Emerging Markets. Tuesday, 01/09/2026 | 13:10 GMT-7 by Tanya Chepkova * Wong spent more than 13 years at IG Group, most recently as Head of Emerging Markets APAC, focused on the company's mainland China business. * The hire adds a fourth senior leader with an IG background to Trade Nation's management team. Finance Magnates has learned that Karman Wong is leaving IG Group to join Trade Nation as Commercial Director, Emerging Markets. Wong is based in Australia, where Trade Nation operates as a regulated broker through Trade Nation Australia Pty Ltd, licensed by ASIC under AFSL 422661. At IG, Wong built her career around Greater China. She joined as a sales trader in 2013, was promoted to Vice President, China in 2016 and spent two years in IG's Shanghai office before returning to Melbourne in 2018 as International Business Development Manager for Greater China. She has held the Head of Emerging Markets APAC role since 2020, running IG's business with clients based in mainland China, putting her tenure at the company at over 13 years, including more than six in her most recent role. A regional specialist for a regional gap. Trade Nation's presence in APAC is concentrated almost entirely in Australia, where it competes for the same active CFD and FX trader that IG serves, but from a narrower, fixed-spread product base rather than IG's broader multi-asset platform. Hiring a commercial director who has spent years sourcing and managing emerging-markets flow into that specific client base looks like a targeted move rather than a generalist executive hire. The role fits Trade Nation's existing commercial leadership. Andy Merry has served as the broker's Chief Commercial Officer for more than a decade. It is not clear whether Wong's position reports into that structure or runs as a separate, regionally focused function. Another IG alumnus joins the leadership team. Wong's move continues a pattern at Trade Nation. CEO Jon Noble is a former senior IG executive, and in November 2025 the broker brought in Kypros Zoumidou, as Managing Director, another IG alumnus who most recently served as CEO of Capital.com. With Wong's hire, Trade Nation has now brought in a fourth senior leader with IG ties within roughly a year. Neither IG Group nor Trade Nation had confirmed the move publicly at the time of writing. Tanya Chepkova is a News Editor at Finance Magnates with more than 16 years of experience in financial journalism, covering forex, crypto, and digital asset markets. Her work spans daily industry reporting and data-driven, long-form explainers focused on market structure, trading models, and regulatory shifts. Before joining Finance Magnates, she led the editorial team of a cryptocurrency-focused media outlet for six years. Her reporting combines analytical depth with clear storytelling, with particular attention to how structural changes in trading, stablecoin infrastructure, and emerging products such as prediction markets reshape the broader financial ecosystem. She covers global developments and provides additional insight into CIS markets. Areas of Coverage: Crypto and digital asset markets Prediction markets Stablecoins and cross-border payments Industry analysis and long-form explainers * 422 Articles * 3 Followers