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Investment Banks Expand into Retail Forex

Forex is becoming hot! Average daily volume has surged past $3.2 Trillion, as the credit crunch has increased volatility and the Dollar has collapsed. In fact, Saxo Bank, one of the most prominent acts in retail forex trading, may record $500 million in revenue this year. As a result, several of the world's largest investment banks have announced plans to enter the burgeoning retail forex market. Citigroup is teaming up with a Danish bank to offer online currency trading. Deutsche Bank is stepping up marketing of its proprietary retail trading platform. Even Goldman Sachs is entering the fray, via a 10% investment stake in a British retail forex company.

Read More: Global banks compete for growing forex business

1 comments:

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