We've recently been posting about new social Forex trading platforms and about brokers who are expanding their presence in the social space, but these days it seems as though another trend is angling to steal the spotlight – that is, the trend of Forex broker rebranding. Within the past few days Tadawul FX has announced that it will be rebranding itself with the name Liquid Markets, to reflect the company's value of liquidity in the Forex market. Tadawul FX is the second broker to rebrand itself in the past 3 months, as it follows Trading Point (aka Trading Point of Financial Instruments) which rebranded this summer to XEMarkets.
As part of its rebranding efforts Tadawul FX will be offering tighter spreads, five decimal trading and several new account types. While Tadawul FX had offered only 3 account types (Mini, Standard and Premium), Liquid Markets will be offering Professional and Institutional accounts as well, which are specifically geared towards advanced traders. Professional accounts will demand a minimum of $100,000 deposit and Institutional accounts will presumably be available for clients depositing $250,000 or more.
Spreads available with Liquid Markets will be 2.9 pips for EUR/USD on a Mini account, 2.2 pips for EUR/USD on a Standard account and 1.8 pips for the pair on a Premium account (which requires a $50,000 minimum deposit). Institutional account holders will enjoy 0.9 pip spreads on EUR/USD.
Tadawul FX's rebranding strategy closely follows a change in the company's leadership, another trend which we've recently seen in large brokers such as GFT, Forex.com and OANDA. In Tadawul FX's case, CEO Stavros Yiannakou was replaced by Nick Bang, an 18 year veteran in the Forex world.
It remains to be seen whether these rebranding efforts will successfully bring these companies to the forefront of the Forex world, or whether they'll continue to remain in the wings as larger brokers steal the Forex spotlight. Success will likely inspire other brokers to rebrand in the coming months or years, and failure may be catastrophic for both Liquid Markets and XEMarkets.