Just after announcing its decision to offer Tradency's Mirror Trader, Turkish Forex brokerage Integral Menkul Degerler has added another well-known Forex company to its list of partners. The company recently announced that it will partner with Swiss Forex bank Dukascopy, the collaboration taking the form of a white label, as Dukascopy as its own brokerage is subject to strict Swiss regulations, and its white label partners have more flexibility in accepting traders beyond Swiss borders. Dukascopy's expansion to Turkey closely follows that of Saxo Bank, which acquired shares in the regulated Turkish broker Deger Menkul Degerler in January 2013, and subsequently opened an office in Istanbul.
Integral Menkul is based in Istanbul and offers a full range of services. Its Forex transactions charge a commission rate of $2 per $10,000. Dukascopy considers its partnership with Integral as a reinforcement of its corporate strategy toward developing white label solutions and providing them to banks and brokers. It opened its Hong Kong office last year, updating its European operation by gaining more of a presence in the market and has remained competitive by reducing its commission structure by 27%, and demonstrating an average spread of 0.46 pips on EURUSD. It also keeps the minimum deposit size at just $100 in order to attract smaller accounts.
The company currently plans to open additional offices in the Asia Pacific region, including a potential representative office in Kuala Lumpur as well as an office in Moscow.
The Integral Menkul Degerler-Dukascopy partnership will provide the Turkish market with the Swiss broker's advanced trading platform in their local environment. According to Integral Menkul's CEO K?±van?§ Memi??o??lu, "?Our partnership with Dukascopy Bank is an important step for our continuous improvement on flexibility and stability in our services. We believe this new platform will attract customers' attention rapidly and find its deserved reputable place in the Turkish FX market."