Swiss forex company Dukascopy Bank SA has entered into partnership with AvaTrade Japan in order to establish Dukascopy Bank SA’s trading technology with the same data feed in the Japanese market. AVAFX rebranded in December 2012 to become AvaTrade, and has considerable presence in the Far East, therefore providing Dukascopy with yet another entry into a Far Eastern market.
This follows the company’s recent interest in developing its coverage in the Asia Pacific region, having opened a representative office in Hong Kong in mid 2012, and having investigated other markets in the region including Malaysia, giving rise to opinions that Dukascopy could be moving away from seeking to further its client base in Europe, further mitigated by the company’s decision to reduce its minimum deposit for new clients of its European operation to just $100 in October last year.
Dukascopy has favored white label partnerships over actual expansion into new areas, having for several years run a specific department dedicated to forming and developing such strategic partnerships using this method, and specifically appointed Luis Sanchez as Head of White Label Partnerships for Europe and America last year.
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Away from the Asia Pacific region, Dukascopy have also a vested interest in gaining a stronghold in the Middle East, having earlier this week formed a partnership with Integral Menkul Degerler in Turkey.
Alain Broyon, CEO of Dukascopy Bank says: “We are very enthusiastic about starting a promising collaboration which will allow Japanese-based clients to use Dukascopy Bank SA’s trading technology and unique data feed. Partnering with Ava Trade Japan will give clients the possibility to continue having access to the Jforex platform where all clients have the same trading rights and the same datafeed.”
Hiroshi Niwa, President of AVA Trade Japan, says: “We are honoured to enter into a partnership with a world-class ECN of the stature of Dukascopy Bank. This agreement will allow us to further develop our FX business and provide more trading opportunities and more market transparency to our clients.”
“By entering into this partnership, AvaTrade Japan continues to sharpen its focus on automatic and discretionary trading in the Japanese market. As the representative of AvaTrade in Japan, I am confident that the launch of the JForex platform will prove to be the beginning of a long and successful partnership.”
Tomorrow’s Forex Magnates Executive Interview with Dukascopy’s Luis Sanchez goes into detail on Dukascopy’s partnership strategy.