Brokers News

FXCM signs white label agreement with New Zealand forex broker Halifax

Leading US forex broker FXCM announced that it has signed a white label agreement with stock and derivatives broker Halifax New Zealand to offer retail FX and CFD trading to NZ customers. 

 

FXCM will be transferring its existing clients in New Zealand to Halifax in the upcoming months, and they will be informed of this transition in advance. Halifax New Zealand, on the other hand, will enable its customers to access the FXCM’s trading platforms and services, while trading with a locally regulated broker, as Halifax New Zealand Limited is registered as a Financial Service Provider (FSP) and regulated by the Financial Markets Authority (FMA) of New Zealand.

 

Presently the NZ company is also a white label partner of Interactive Brokers and provides its clients with access to over 36 exchanges worldwide through Trader Workstation platform.  

 

This white label agreement is another cost optimization move by FXCM, as the company emphasizes on paying out its high-interest loan to Leucadia National Corp (NYSE:LUK). The loan was necessitated after the heavy losses incurred by the broker due to the Swiss franc spike last year. 

 

In line with its current policy to sell assets and free up capital, the agreement with Halifax New Zealand will enable FXCM to retain, or maybe even increase, its NZ trading volume, while not holding as much capital, since client funds will be officially kept with the white label partner.

 

FXCM is one of world’s largest forex brokers in terms of trading volume. It is a registered futures commission merchant (FCM) and a retail forex dealer (RFED) with the US Commodity Futures Trading Commission (CFTC). The broker is also registered with the relevant regulatory bodies in the UK, Germany, Italy and Australia. It provides forex and contracts for difference (CFDs) trading, spread betting and related services to both retail and institutional customers. Through its offices in the US, the UK, Germany, Australia, France, Italy, and Greece, and affiliate offices in Canada, Israel, Chile, Japan, and China, the broker offers 40 currency pairs on the Trading Station and MetaTrader 4 trading platforms.

 

TAGS: FXCM  Halifax  white label  New Zealand 

More news about FXCM

Broker Country Regulation Platform Min Deposit Review
Cyprus CySec MT4, MT5, Web $5 Review Website
US, UK, Australia CFTC/NFA, FCA, ASIC MT4, Web,
Mirror Trader,
Trading
Station,
NinjaTrader
$50 Review Website
UK, Australia, Singapore FCA MT4, Web,
ProRealTime,
2Dealer
$1 Review Website
UK, Cyprus FCA, CySec MT4 $5 Review Website
UK, Cyprus FCA, CySEC MT4, MT5, Web,
cTrader,
SuperTrader,
FxPro Markets
$100 Review Website
Seychelles FinaCom MT4 $10 Review Website
UK, Bulgaria FCA, FSC Web $150 Review Website
Belize IFSC MT4, MT5 $100 Review Website
Cyprus CySEC MT4, MT5 $300 Review Website
New Zealand FMA MT4 $1000 Review Website
Belize IFSC MT4, Web $500 Review Website

More Forex Brokers News

FxChoice launches new economic calendar

Feb 22 2017 08:57:02

In a notice to its clients, forex broker FX Choice announced the launch of live and automatically updated economic calendar. This calendar simplifies finding market moving news and makes it easier for clients to take informed trading decisions. Read more

FXCM changes name to Global Brokerage

Feb 21 2017 12:54:05

FXCM, a top global broker that recently got in big trouble with the US regulators and subsequently withdrew from the US forex market, selling its clients to Gain Capital, announced it is changing its name to Global Brokerage Inc.    Respectively, the ticker also changes – to GLBR. Read more

FXTM teams up with Sahara Force India F1 racing team

Feb 21 2017 09:10:11

Global broker FXTM announced it has entered into partnership with the Sahara Force India Formula One racing team and has become its “Official Forex Partner” for the 2017 F1 season. Read more

Fibo Group launches trading account with gold as a base currency

Feb 17 2017 09:38:07

Forex brokerage Fibo Group has added yet another option to its extensive offerings: its clients can now choose gold (GLD) as a base currency for their MT4 accounts. Read more

FXCM’s Jan metrics: trading volumes up 18% MoM, US operations making up less than 20%

Feb 15 2017 14:42:05

Major forex broker FXCM (NASDAQ:FXCM) reported its trading metrics for January. Read more

Client feedback is driving the development of IG’s new web platform

Feb 15 2017 09:05:36

In a note to its clients, IG, one of the largest forex, CFD and spread betting providers, announced some key features of its new web platform, as well as tools which are currently in development. Read more

FXCM pays $650 K CFTC fine for 2015 undercapitalization

Feb 14 2017 13:13:17

FXCM's woes see no end. After last week's shocking regulatory actions against it that forced it to exit the US forex market, where it was the leader, this week the broker took action to resolve another old regulatory issue and pay a $650 000 fine. Read more

FXCM expects its US exit to trigger international growth

Feb 13 2017 10:10:07

A couple of days after the news about FXCM [NASDAQ:FXCM] leaving US forex market and selling its client base to peer Gain Capital broke, the top forex broker announced key metrics for the nine months, ended 30 September, 2016. According to the data disclosed, FXCM generated a net loss of $13. Read more

Forex.com reports 40% annual drop in January volumes

Feb 13 2017 09:06:16

Forex.com, the OTC retail forex brand of the US brokerage Gain Capital, has posted a 40.1% drop of its average daily volume in January 2017, compared to last January. According to the company report, it amounted to $9. Read more

Gain Capital to pay up to $500 for each FXCM client, conditions apply

Feb 10 2017 08:49:12

Following the regulatory penalties and dramatic exit of the largest US forex broker FXCM from the country and the subsequent announcement that Gain Capital is buying off FXCM's retail forex clients, new details are emerging about the deal. Read more