Global Brokerage Inc. (GLBR)
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Global Brokerage Inc. Profile
| Financial Services Industry | Financials Sector | Kenneth Grossman CEO | OTC PINK Exchange | 37891B109 CUSIP |
| US Country | 603 Employees | 31 Dec 2014 Last Dividend | 1 Oct 2015 Last Split | 2 Dec 2010 IPO Date |
Overview
Global Brokerage, Inc., initially known as FXCM Inc., was a corporation engaged in providing comprehensive online trading services. This company specialized in delivering avenues for foreign exchange (FX) trading, as well as offering contracts for difference trading, spread betting, and a variety of related services on a global scale. Catering to both retail and institutional customers, the company developed a proprietary trading platform that featured price quotations on diverse currency pairs from international banks, financial institutions, and market makers. As a credit intermediary, Global Brokerage, Inc. facilitated trades between its customers and the FX market makers, granting access to over-the-counter FX markets. Founded in 2010 and based in New York, New York, the company underwent a significant rebranding in February 2017, moving from its original name, FXCM Inc., to Global Brokerage, Inc. However, its operations faced a judicial setback when, on March 23, 2023, an involuntary petition for liquidation under Chapter 7 was filed against it in the U.S. Bankruptcy Court for the Southern District of New York, which was subsequently approved on May 19, 2023.
Products and Services
- Online Foreign Exchange (FX) Trading: Global Brokerage, Inc. offered a platform for trading in the foreign exchange market, enabling customers to buy and sell currency pairs. This service targeted both novice and experienced traders seeking to capitalize on currency value fluctuations in the global market.
- Contracts for Difference (CFD) Trading: This service allowed traders to speculate on the rising or falling prices of fast-moving global financial markets. CFDs cover a wide range of assets such as shares, currencies, indices, and commodities, offering a method to trade on margin and potentially profit from price movements without owning the underlying asset.
- Spread Betting: Mainly available in the UK and Ireland, this form of betting involved predicting the outcome of an event, where the pay-off is based on the accuracy of the wager, rather than a simple "win or lose" scenario. This financial derivative allowed clients to speculate on the movements of financial markets.
