AvaTrade will continue to use Dukascopy’s JForex platform for those clients, and potentially others.
Stay tuned to LeapRate for the real story-behind-the-story in the FX world….. Dukascopy today announced a partnership with Ava Trade Japan (the Japan division of global FX brokerage firm AvaFX, a member of LeapRate’s Approved List), whereby the JForex Platform will be available to the Japanese Market.
LeapRate has learned that was brought about this partnership was that Dukascopy’s existing white label partner in Japan had to shut down, due to regulatory reasons. As such, Dukascopy — not itself regulated in Japan — looked around for a new partner, and came to an agreement with AvaFX, which already has a strong presence in the Japanese market, following its 2010 acquisition of Art Co of Japan. (For a complete list of M&A and financing transactions in the FX sector globally see the LeapRate-Dow Jones Forex Industry Report)..
Dukascopy thereby gets a strong Japanese partner, and AvaFX gets Dukascopy’s existing (white label) Japanese clients, as well as the right to continue marketing the JForex platform in Japan, in addition to its own. (Technically, AvaFX is in discussions with the previous broker as to how to assure that existing JForex customers in Japan will have a smooth transition.) Sounds like a fairly good deal for both sides.
Dukascopy recently signed a similar deal in Turkey, where Turkey’s largest broker Integral Menkul Değerler agreed to White Label the JForex platform.
For the complete press release click here.
For more on the global Forex industry see the LeapRate-Dow Jones Forex Industry Report.