FXCM Inc. (NYSE:FXCM), a leading online forex broker, with Halifax New Zealand, a Stock and Derivatives Broker, informed that they have entered into a white label partnership to offer retail FX and CFD trading to customers throughout New Zealand.
Halifax New Zealand, is a licensed “Issuer” with the New Zealand Financial Markets Authority. Under the new deal, Halifax New Zealand will provide access to its clients to the FXCM Trading Station or MetaTrader 4 trading platforms and services. In this way, Halifax New Zealand clients will benefit from FXCM’s distinctive No Dealing Desk Forex and Enhanced CFD execution models while trading with a locally regulated broker.
FXCM will be transferring its existing clients in New Zealand to Halifax in the coming months, and will informt clients of this transition ahead of the transfer.
This new deal is in line with FXCM’s moves over the past 15 months to both sell assets and free up capital, to focus on paying down its high-interest loan from Leucadia National Corp. This type of agreement is more related to the latter (free up capital) category – FXCM gets to keep (and even increase) its trading volumes with NZ based clients, while not having to hold as much capital since the client funds and accounts will formally be held at the white label partner, in this case Halifax New Zealand.
To read the official announcement, click here.
Halifax New Zealand is a Stock and Derivatives Broker with offices in Auckland and Wellington, New Zealand. Halifax New Zealand Limited is registered as a Financial Service Provider and regulated by the Financial Markets Authority of New Zealand (under the code FSP146605).
Halifax New Zealand offers trading and broking services for Australian and International Stocks, Futures, Foreign Exchange, CFDs, Options and Bonds. Its official website is available at www.halifaxonline.co.nz
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