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The International Business Times last week held an exclusive interview with Todd B. Crosland, Chairman and President of Interbank FX, one of the most exciting Forex brokers in the US.
What is your professional background?
In the 1990’s I owned a medical device business called Surgical Technologies, Inc. that I took public on the Nasdaq National Market System. It was sold in 1996. Since that time I run a real estate development company and a large manufacturing company that we owned.
I started Interbank FX in the year 2000 with stocks and options trading. In 2001 I bought a program to do currency trading. We brought the technology and hired some programmers. In 2003 we made our technology available to the general public. Since then we have grown the company to around 40,000 customers in 150 countries and an approximate one trillion dollars a year trading volume.
Do you focus more on US clients or do you also focus on Asian and European customers?
Well, about 40 % of our customers are from the US. And we have around 30 % in Asia and around 20% in Europe and a small part in the Middle East and Africa.
Do you have also offices outside of the US?
We do. There is an office in Beijing, another one in Seoul and one in London as well. This summer we will open an office in Sydney.
I took a look at the Interbank FX products; and it was very wonderful to see that you are offering services that you don’t have with “normal” brokers. One thing is quite amazing is the DEBIT CARD on your trading account. Your clients can use the debit card globally. Could you tell me more about this?
Sure, as we started Interbank FX we wanted to offer customer focused products. We received many inquiries over the years. You know for international clients you have a wire transfer fee of around 25 dollars. And it takes two or three days to send a wire. So we came up with this international debit card. Our customers can transfer money through the debit card. First of all it is free. There is no charge. And second it is almost immediate. So you can do your trading during the week and on Friday you can withdraw your money with your debit card and then enjoy weekend. It is a very convenient way for our customers.
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