Exclusive: SunbirdFX Owners Absorb youtradeFX Group's Brands

Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term Magnates learned that the group behind forex and CFD broker, SunbirdFX, has acquired a batch of brands operating under the youtradeFX group. A number of industry sources close to the matter said that the deal took place several weeks ago, at an undisclosed valuation. It is still unknown as to whether the brands are to be brought into Sunbirdfx or to operate independently.

It is also still not clear if the brokers are to operate separately from the Sunbird. The firm's new modus operandi following the deal is yet unknown. Representatives of youtradeFX group have declined to comment.

The youtradeFX Group is based in Cyprus, comprising of several legal entities spread globally. Before being acquired, the group was reportedly linked to the consortium of binary options brands aiming at an Initial Public Offering (IPO), headed by Traderxp.

Last month, the company changed one of its main market operations, as all online traffic to the Australian offshoot of the group (www.ytfx.com.au) had been redirected to a new binary options brand called Woojoo Trader.

SunbirdFX is owned and operated by Sunbird International, a Seychelles-based company. The broker has confirmed that they are regulated under the Financial Market Relations Regulation Regulation Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Read this Term Center (FMRRC), one of the lesser known Russia-based, self-regulatory organizations (SRO).