FXCM history

In January 2003, FXCM entered into a partnership with Refco group, one of the largest US futures brokers at the time.

In November 2005, Refco agreed, in part, to sell its 35% stake back (which included 15,000 customer accounts) to FXCM for $110 million.

In March 2006, however, Refco's creditors disallowed the deal and, later, denied a separate $130 million bid by FXCM. Refco's stake in FXCM was eventually sold to a consortium of buyers, including Lehman Brothers Holdings.

In 2007, an advisor to the deal called it a low-risk way for Lehman to quickly gain entry to the retail forex market.

Refco's stake in FXCM was eventually sold to a consortium of buyers that included Lehman Brothers Holdings Inc., an investment bank that collapsed during the 2008 financial crisis.

FXCM had previously acquired ODL's United States business in January 2009.

In May 2010, FXCM, Inc. purchased the UK-based, ODL Group.

In August 2011, the National Futures Association (NFA) issued a $2-million fine to FXCM for slippage malpractice.

In June 2012, FXCM purchased a controlling stake in Lucid Markets for $176 million net of Lucid cash.

FXCM also entered into a deal with Credit Suisse to develop the FastMatch electronic communication network (ECN). In 2013, FXCM bought a $12-million note issued by Infinium Capital Management, a high-speed trader based in Chicago.

In February 2014 the UK Financial Conduct Authority (FCA) fined FXCM and FXCM Securities Ltd ("FXCM UK") £4 million for slippage violations and for failing to inform the FCA of the CFTC investigation of the same practices.

On January 15, 2015 following a large increase in the price of Swiss francs, FXCM lost $225 million and was in breach of regulatory capital requirements.

In September 2016, Leucadia extended the original two-year loan by one year.

In February 2017, the CFTC fined FXCM, Inc. and three founding partners (including Drew Niv) $7 million for engaging in fraudulent activities.

Also in February 2018, FXCM rebranded itself as "FXCM: A Leucadia Company". As of March 2018, FXCM remained the second-largest retail forex broker outside of Japan.

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