FXstreet

Online currency broker OANDA announced on Wednesday that the company has acquired all of the foreign exchange trading accounts of IBFX, Inc, also known as TradeStation Forex.

IBFX is a unit of TradeStation Group, Inc.

The announcement comes as IBFX exits the forex dealer business, with the transfer scheduled to take place on March 4. The financial terms of the deal were not disclosed.

"Our shared values on these crucial matters were a key reason for striking this deal, rather than any others we've recently considered," said OANDA President and CEO Ed Eger.

"These new clients join a rapidly growing OANDA community at a time when market volatility is high."

Eger added that the company would offer free introductory access to some of its advanced services for certain traders.

Starting on March 5, TradeStation Technologies will offer IBFX customers who move to OANDA subscriptions for a real-time TradeStation FX platform integrated with OANDA's forex price feed.

This will allow those customers to continue to perform research and analysis on TradeStation FX, including charting and strategy design, before placing trades as OANDA clients on OANDA's order execution platform, the company said in a statement.

"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," said John Bartleman, President of IBFX and TradeStation Securities.

"Our forex clients will have the benefit of being served by a firm that dedicates its focus to forex trading." (Reporting by Dion Rabouin, editing by G Crosse)

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