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Screenshot of a breaking news alert e-mail from Q2 2017
AC Markets and MIG Bank will soon redirect to Swissquote.com/fx.
Leading Swiss forex broker Swissquote has sent a note to clients that it will soon eliminate the www.ac-markets.com website, which it has kept live since its acquisition of rival Swiss broker AC Markets three years ago. As most of Swissquote’s eForex business was based on its AC Markets acquisition, Swissquote had decided to keep the site running for the many clients who were simply used to it, and to seeing the ‘Advanced Currency Markets’ logo on its pages.
However now with Swissquote acquiring MIG Bank, the time has apparently come for Swissquote to consolidate its brands under its main umbrella. In a few days, visitors to www.ac-markets.com will simply be redirected to Swissquote’s main site at swissquote.com/fx. This switch will take place automatically, without traders needing to make any changes.
As we reported earlier when we disclosed the true value of the Swissquote purchase of MIG Bank (at $70 million), Swissquote plans to do away with the MIG Bank website and brand as well, soon in the new year. Many of MIG Bank’s employees will be offered positions at Swissquote’s Gland headquarters. While we understand that most of MIG Bank’s senior management will not be making the move, MIG Bank CEO Hisham Mansour will indeed be joining Swissquote in a senior capacity. The Mansour family, which owned MIG Bank, now has a 5% ownership interest in Swissquote.
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