Forex Blog: Currency Trading News & Analysis.

December 27th 2007

Investment Banks Expand into Retail Forex

Forex is becoming hot!  Average daily volume has surged past $3 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.  However, not everyone is optimistic, reports GulfNews:

Some think the reputational risks of enabling individual investors who may not be able to afford to lose substantial sums in what are notoriously volatile markets outweigh the possible revenue stream.

Read More: Global banks compete for growing forex business

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Posted by Adam Kritzer | in Investing & Trading | No Comments »

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