BGC departs retail FX
As part of the move, the broker is closing all accounts of less than $1 million.
The source said a department within the company that was selling foreign exchange had attracted retail investors as clients. "After a period of time, when the company finally got round to looking at them, it decided it didn't want to have them as clients," the source said. "It's not something the company wants to be in."
"Like any big institution, it doesn't do retail business because of the reputational risk. It
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