FXCM is moving fast to establish a comeback after dealing with the fallout of last January's Swiss Franc spike and the $275 million loss it caused at the company.
The Forex and CFD broker has just announced a new partnership with German brand FXFlat. FXFlat, founded in 1997 and owned by FXFlat Wertpapierhandelsbank GmbH, is a regulated online broker in the Forex and CFD trading and is one of the few remaining big introducing brokers operating in Germany.
Under the new partnership, FXFlat will enable its customers to access the FXCM Trading Station and use FXCM's no-dealing-desk Forex and CFD execution models. FXFlat MT4 traders will also execute via FXCM.
The partnership should come as no surprise for the industry. Already in August 2015, FXCM showed interest in consolidating its institutional foreign exchange business and calibrating partnerships to claim greater visibility and exposure. The deal with the German IB, which is essentially a white label agreement, is the result of these efforts.
On making the announcement, Brandon Mulvihill, Managing Director of FXCM PRO said, "?FXCM is pleased to partner with FXFlat, a dominant player in Germany. The numerous awards FXFlat received in 2015 and the years prior speak to the quality of this new venture. This is an important step towards FXCM's strategic expansion into the German market."
FXCM Inc. (NYSE:FXCM) is a leading provider of online foreign exchange (FX) trading, CFD trading, spread betting and related services. It offering innovative trading tools, offers the expertise of excellent trading educators and meets strict financial standards.