Forex Club raises money from Quadro


Following last week’s announcement that eToro raised $15 million from VCs, we now hear that Russian VC / private equity firm Quadro has invested an undisclosed (but we understand similar) amount of money in Forex Club.

Interestingly, Quadro’s press release mentioned more than once that the money was geared to strengthen Forex Club’s position in the Russian speaking market. Indeed, the market in Russia is dominated today by Forex Club and Alpari, two global firms both having Russian roots.

Forex Club’s decision to raise capital came in part, we believe, due to its decision to remain in the capital-heavy U.S. market, at least for the time being. Forex Club and Alpari remain the only two major non-U.S. based firms to be NFA regulated and operate in the U.S., although both have seen their U.S. client numbers decline as of late. With just $2.8 million in U.S. client assets (down 18% over just the past month), one needs to ask if Forex Club will continue to remain in the U.S. and be NFA regulated, with its required $20 million of minimum posted equity capital. (Forex Club U.S. actually has posted $22 million in posted capital).

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Forex Club raises money from Quadro

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