Blue Isle FX Launches Prime-of-Prime Accord With Geluk Global Fund
The accord will see Blue Isle FX become a prime of prime broker for three of Geluk Global's hedge funds.
Blue Isle FX, a prime of prime (PoP) and foreign exchange (FX) broker-dealer, has launched a strategic partnership with Geluk Global Fund Ltd SAC, comprising a total of three hedge funds – the accord will see Blue Isle support a trifecta of funds as a PoP broker, whilst providing institutional pricing and access to its platform services, according to a Blue Isle statement.
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Blue Isle FX is a multi-asset broker, specializing in FX, contracts-for-difference (CFDs), and commodities, among others. Its support of Geluk Global Fund Ltd, a capital management group, will focus on three specific hedge funds – Geluk Global Gold Fund, the Global Marco Premier Fund, and the Geluk Global Macro Accelerated Fund.
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The accord is important as it helps provide Geluk Global’s clients with a comprehensive platform and access to retail trading capabilities. In addition, Geluk Global’s users will also be able to utilize a wide range of trading instruments, including over-the-counter (OTC) options, algos, and other utilities.
According to Douglas Fathers, the founder of Geluk Capital Management Ltd, in a statement on the partnership: “We have been very impressed with the Blue Isle FX team, which is led by a 25+ year experienced team who offers only ECN/STP market liquidity and who fully understand the importance of direct market access with straight through processing. We’re confident that by working with Blue Isle FX our trading team will have the advantage with institutional execution.”
“As a result of our long term, high level industry relationships, Blue Isle FX is one of only a handful of global brokerages with the ability to offer hedge funds a full suite of both vanilla and exotic options with straight through derivatives,” added Blue Isle FX founder Michael Stewart.
“We look forward to working with the Geluk Capital team to provide a comprehensive suite of 81 different instruments including OTC options, high equity leverage, first class technical support, consulting services, free on-going education, customized algorithms and managed account options.”
Are these guys real?
Just for the record, Blue Isle FX states that they are based in St. Vincent and the Grenadines which the local regulator doesn’t give licenses to forex brokers.
I don’t know any normal hedge fund, even those in the Bahamas, that would open an account with an unregulated broker.
Also, Blue Isle has a PR of Mediatrix Capital picking them. But Mediatrix and Blue Isle share same founder, Michael Stewart (MediaTrix also slapped a testimonial from George Soros on their site 🙂