FXCM Inc. (NYSE:FXCM) has just announced a new partnership with German brand FXFlat. Established in 1997, FXFlat is a trademark of independent and privately owned FXFlat Wertpapierhandelsbank GmbH. It is one of the few remaining big introducing brokers operating in Germany. The sides explain that under the new partnership, FXFlat will enable its customers to access the FXCM Trading Station as well as the MetaTrader 4 platform with FXCM’s execution.
“FXCM is pleased to partner with FXFlat, a dominant player in Germany,” says Brandon Mulvihill, Managing Director of FXCM PRO. “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.”
Rafael Neustadt, Managing Director and CEO of FXFlat, commented: “The new partnership is a win-win situation not only for FXFlat Wertpapierhandelsbank and FXCM, but especially for the customer. With this cooperation we are further expanding our extensive range of excellent trading tools, attractive costs and transparent solutions.”
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Back in August 2015 we reported that FXCM’s rival NYSE-listed brokerage GAIN Capital envisioned a limited role for the omnibus accounts it is operating on its platform, where trades are facilitated for other brokers’ clients, such as FXFlat. That was part of efforts to consolidate its institutional foreign exchange business and to calibrate its partnerships to claim greater visibility and exposure.
While the sides obviously do not mention it, what could have helped FXCM reach the deal with the German IB is the stock market rally that it recently saw, showing that investors have regained their trust in the firm.