Virtu Financial (ITG) Review
Virtu ITG is the former Investment Technology Group, bought by Virtu Financial in 2019 for about $1 billion. It is an institutional agency broker, not a retail forex platform.
Min Deposit
N/A
Spreads From
Not published, Virtu ITG charges institutional execution fees, not retail spreads
Max Leverage
Not applicable, Virtu ITG is an agency broker, not a leveraged CFD provider
Platforms
Triton EMS, POSIT
Pros
- Backed by Virtu Financial, a Nasdaq listed firm trading under the ticker VIRT
- POSIT and Triton have a long, real track record in institutional execution
- Virtu ITG LLC is a genuine FINRA and SIPC member broker dealer in the US
- Virtu kept ITG's client facing entities running instead of shutting them
Cons
- Bought out in 2019, so the ITG name now only survives inside Virtu's brand
- Institutional agency broker only, individuals cannot open a retail account
- No public minimum deposit, spread, or leverage figures exist to compare
- Complex legal structure spread across multiple Virtu and former ITG entities
ITG, short for Investment Technology Group, started in 1987 as a joint venture between Jefferies and BARRA to build POSIT, an early anonymous system for institutions to trade shares directly. It became fully independent from Jefferies in 1999. Virtu Financial bought the whole company in March 2019 for about 1 billion dollars, at 30.30 dollars a share.
Virtu Financial itself started in 2008, founded by Vincent Viola with Douglas Cifu and Graham Free, and listed on the Nasdaq in April 2015 under the ticker VIRT. After the ITG deal closed, Virtu kept ITG's client facing broker dealers running, just adding Virtu to their legal names instead of shutting them down.
The main US entity today is Virtu ITG LLC, a FINRA and SIPC member broker dealer, alongside sister unit Virtu ITG Europe Limited, a London Stock Exchange member firm. Virtu ITG only works with institutional clients through the Triton and POSIT product suite, it has no retail account, minimum deposit, or public spread.
Max Leverage
Not applicable, Virtu ITG is an agency broker, not a leveraged CFD provider
Spreads From
Not published, Virtu ITG charges institutional execution fees, not retail spreads
Platforms
Regulators
- SEC (USA)
- FINRA
- FCA (UK)
- ASIC (Australia)
