News website Daily FX appears to have been closed down by its owner IG Group and replaced by a new brand – Trade Live with IG.
The company’s URL redirects back to the IG Group website. However, the news website’s YouTube and X (Twitter) pages have changed URLs and rebranded as Trade Live with IG.
The Daily FX website’s Facebook page has not been altered in the same fashion but has also not been updated at all since the start of August.
TradeInformer contacted IG Group about the change but had not received a response at the time of publication.
According to its X page description, Trade Live with IG is a new morning show that will run from 7:30 am to 10:00 am UK time on weekdays. The show appears to be hosted by Angeline Ong, who joined IG Group last year, after almost 15 years with Reuters.
IG group acquired Daily FX from US broker FXCM in 2016 for $40m, after the latter firm blew up during the Swiss franc unpegging in 2015. It had primarily been a lead magnet and marketing opportunity for the broker.
The rebrand is also striking in that it is targeting the UK. The show is based on London time and the links to IG, as well as the compliance warnings, are for the group’s UK entity.
Daily FX was much more of a US-focused brand, partly because of where it was based but also because US clients could only trade FX CFDs with IG Group.
Trade Live with IG also looks like it is an attempt to mimic some of the success that tastytrade has had over in the US.
The options broker, which was acquired by IG Group in 2021, started out as a media company that made content about derivatives trading, before ultimately building its own brokerage and using its media arm as a marketing funnel.