IronFX has officially announced the merger plan with FXDD, and going to join Nukkleus Inc which is a NASDAQ listed company.
After the rumor of the merger of FXDD and IronFX a week ago, they have officially announced their “Merger Plan”.
IronFX and FXDD are going to be together and become the subsidiaries of “Nukkleus Inc”. The “Nukkleus Inc” is already listed on NASDAQ.
According to our source, Nukkleus Inc has announced that the company officially acquired the Forexware LLC , also Nukkleus has already acquired the 9.9% of the shares of IBIH Limited which owns IronFX Global Group and 100% of IronFX Australian company’s.
And then, Nukkleus has also acquired the operational department of Forexware and FXDD Inc, this request is currently waiting for the approval from the Regulatory Authority in US.
Although this new coming company Nukkleus is going through all of these acquisition processes, the company has also stated that the brand IronFX and FXDD continue to promote their brand individually.
The merger of these companies are only financially and on the management side.
This merger will result in having more than 200 countries of the Forex market to provide financial services, with 11 offices and over 300 employees.
The Nukkleus will technically be one of the largest Financial Company from the beginning.
You can find the official press release from SEC, from the SEC’s official website.
Who owns the entity?
The CEO of the company “Nukkleus Inc” was the previous CEO of “Tradition North America” which is owned by “Compagnie Financiere Tradition”. His name is Emil Assentato, and he has long & deep financial experience in WallStreet in NY.
Mr Emil is going to work with the director of the Nukkleus, Markos A. Kashiouris.
Markos A. Kashiouris is the current CEO of IronFX Global Group, he has succeeded to grow IronFX rapidly and made it one of the largest online Forex & CFD broker in about only 5 years.
So what will be changed for traders?
In the SEC press release, Nukkleus has also mentioned that the company is not going to mix up the brands of FXDD and IronFX completely.
So in case you are trading with IronFX or FXDD, then you should be able to continue your tradings as normal in the future.
The important change for traders is that:
The company(Nukkleus) who owns IronFX and FXDD, is publicly traded in NASDAQ
IronFX and FXDD will be in a more stable situation financially
After IronFX losing large part of market shares and FXDD shriveling from its old glory(apologize if you disagree with the wording), the three brokers(IronFX, FXDD and FXGiants) becoming together will create a huge pool of corporate assets.
That is one thing you can be assured, and you can see them differently now as the controlling company is publicly traded on NASDAQ and it has got assets and power.
Also, as the company has also mentioned that the management team will be together and they are going to optimize the operations of IronFX and FXDD somehow, we believe that you can expect more and more positive updates after the whole merger process is done.
About the Forexware
Forexware is a company which has developed the original software which was going to be the latter-day most popular trading platform in the world, MetaTrader. The company is a leading Technology Solution Provider.
The company also technically owns the online Forex & CFD broker, FXDD.
Forexware LLC is already acquired by “Nukkleus Inc”.
About the IronFX
IronFX group is founded in 2010, and it offers investment solutions of Forex and CFDs through MT4.
The companies included in the group is regulated and authorized to provide financial services by a number of regulatory authorities such as CySEC, ASIC, FCA and CRFIN.
Although the broker had grown to be one of the largest brokers in the world, about a year ago IronFX has delayed some withdrawal processes to a group of Chinese “Arbitrage” traders, then following the large amount of withdrawal requests after the trouble, IronFX has significantly lost a large number of clients and maket shares worldwide.
After the main regulatory authority of IronFX Global, CySEC has investigated the matter officially, and IronFX has paid “settlement fee” to CySEC. The payment is not a fine from CySEC, but a member of CySEC has mentioned that IronFX paying the settlement fee means the company admits that they might have done something wrong in its financial operation.
Anyway IronFX continues to a part of the Forex market, especially the FCA regulated “IronFX UK” is recommended in case you are interested in opening account with IronFX, as “IronFX UK” processed all withdrawal processes automatically and the compensation package is much greater than the CySEC’s ICF.
You can find more information regarding the “IronFX Global” and “IronFX UK” from this article.
About the FXDD
FXDD is founded in 2,002 in USA firstly, and the company has got one of the oldest history as an online Forex & CFD brokerage firm.
The broker used to offer mainly its financial services to US clients, but now it has withdrawn from the market and currently focusing on acquiring foreign markets from NY office.
The broker has an official financial license in Malta, and also has an office registered in Bermuda Island.