GVC Gaesco will white-label FXCM’s retail platform for FX and CFD products through its 19 offices in Spain. GVC Gaesco has about €2.4 billion in assets and more than 24,000 clients.
The news comes as another sign that New-York based FXCM has been successful at expanding its white-label business.
FXCM signed up online stockbroker E*Trade as a white-label partner in February and Portugal’s DIF Broker in May, and announced a tie-up with Barclays in September.
At the time, Barclays Margin FX told EuromoneyFXNews that its decision to link up with FXCM was based on the firm’s ability to engage with retail customers.
“The strength that FXCM brings is the functionality of their platform, the technology and the potential to develop the relationship when we move into mobile trading,” said Paul Inkster, head of product at Barclays Stockbrokers.
“That’s what they bring to the party – FXCM have the technology and the retail friendly front-end systems.”