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AvaFX acquires clients from Finotec

AvaFX continuing to expand, Finotec focusing on other markets and institutional clients

July 6, 2011 - PRLog -- A LeapRate Exclusive! M&A Deal Report – LeapRate has learned that Finotec Group Inc. subsidiary Finotec Trading UK Limited has agreed to sell certain retail clients and client assets outside the EU to AvaFX. As in other such transactions, such as the recent purchase of dbFX by Gain Capital, the Finotec clients need to agree to move their accounts to AvaFX.

AvaFX – a member of LeapRate’s list of Approved Forex Firms – is one of the successful new generation of Forex firms which have based themselves on a combination of superior customer service and aggressive online marketing. AvaFX has also grown via a series of acquisitions, including the March 2011 purchase of eForex’s client assets, the July 2010 acquisition of Art Co. of Japan (where AvaFX recently was awarded a full Forex license), plus the most recent Finotec deal. (For a list of Forex sector M&A and financing transactions from 2005 to present see LeapRate's Forex Industry Report at http://www.leaprate.com/IndustryReport.html).

For more details please see the Forex Industry News section of our website at http://www.leaprate.com

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