Saxo Bank has announced the newest addition to its list of white label partners, Fidelity Asia Bank (Fab). The offshore subsidiary of Ghana based Fidelity Bank has been headed by long term industry veteran of the forex industry, K. Duker.
The partnership between the companies involves the new platform solution by Saxo Bank, SaxoTraderGo. Fidelity Asia Bank will be offering multi-asset trading to its clients via its own branded platform – FabTraderGo.
Fab has been establishing its footprint in Africa and Asia, with the new partnership aiming to boost the product offering of the company. K Duker had been CEO of OANDA up until December 2013, when he was replaced by its current Chief Executive Ed Eger.
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Commenting on the announcement the Global Head of Sales of Saxo Bank, Matteo Cassina said: “Fab is set to realize growth potential in both Asia and Africa, not only through a full multi-asset trading offering, but also with the ambition to bolster its offering to long-term investors using our portfolio management tools and services.”
The addition of trading capabilities to offshore accounts has been one of the key features that some clients have been looking for.
Commenting on the partnership the CEO of Fab, K. Duker said: “This partnership represents the latest phase in our recent expansion and Saxo was a natural partner for us on account of the strength of its multi-asset offering. Our ambition is to also enhance our offering to long-term investors through our partnership with Saxo Bank.”
Led Fidelity Asia is not the first offshore white label partnership of Saxo Bank. Euro Pacific Bank, owned by one of the most vocal predictors of the U.S. housing market crash Peter Schiff, has also been offering a product powered by Saxo Bank. The bank, located in Saint Vincent and Grenadines has been offering Global TradeStation, which is the name that Euro Pacific picked for its white label version of SaxoTraderGo.