Retail broker Fullerton Markets announced on Tuesday that it has established a white label agreement with Malaysian firm BeGold Trading.
With a strong presence in Asia, Fullerton Markets has developed a range of relationships with different firms in the region, particularly in the southeast of the continent.
The deal with BeGold will see clients of the Malaysian broker gaining access to Fullerton Markets’ trading infrastructure and fund protection services.
“We’re pleased to extend our multi-level protection plan, which includes segregated bank accounts, Fullerton Custodian and Lloyd’s insurance policy fund safety, to all BeGold clients,” said Fullerton Markets’ general manager, Eugene Paik.
“The partnership also presents the BeGold team with a turnkey package that will allow them to allocate more time and resources into building their strengths, growing their business and better serving their clients.”
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Trade FX, buy clothes
BeGold is fairly unique in the brokerage world as it supplies a range of other non-financial products to its customers. Perhaps the most similar broker – in terms of services, not size – is Rakuten.
Currently, BeGold customers can buy clothing, agricultural and cosmetic products from the company. The firm’s chief executive officer, Nazirah Ghazali, got her start in the business world selling furniture.
“Quality, trust and reliability are important values by which we grow the company,” said Ghazali. “We were drawn to Fullerton Markets’ similar business outlook and their capability in providing our clients with unparalleled fund safety and seamless trading experiences.”
“Fullerton Markets can also leverage our strong consumer base in Malaysia and Indonesia to further strengthen their presence among retail traders across the region.”
Malaysia – as with many other countries in Southeast Asia – is becoming a popular destination for retail brokers. With regulation in Europe pushing them into new jurisdictions and a growing, technologically savvy population, the region is an attractive proposition for firms.