FXCM Pro Ties up with Fortex to boost institutional liquidity

Karthik Subramanian

FXCM Pro, the institutional arm of the leading FX brokerage firm FXCM, has tied up with the multi-asset trading platform Fortex in a bid to improve its liquidity and pricing for institutions.

fxcm water street

In recent times, a lot of brokers and financial services firms have focussed their attention on institutions in a bid to boost their trading volumes. The pandemic times have been stressful on retail traders who have tried to save up their capital for the situation to get better. This had placed a lot of pressure on the trading volumes of brokers and exchanges and as part of their growth strategy, they are now aggressively soliciting institutions who they believe would trade under all market conditions and hence can provide a basic trading volume at all times.

The partnership between FXCM Pro and Fortex helps to integrate FXCM Pro’s liquidity with Fortex’s XForce 2.0 platform which helps to boost liquidity and also provides better pricing, risk management, bridging for MT4/MT5, and other functionality as well. This will help to improve the features that are offered by FXCM Pro to its clients and FXCM Pro would hope that this would be more attractive to its clients.

Daniel Chen, CEO, and Co-founder at Fortex, commented: “Fortex specializes in helping enterprise clients innovate and re-orient their trading business to fuel continuous growth.  From exchange products to FX/CFD to crypto derivatives, we discover deep values for our clients by leading changes and overcoming pain points, armed with superior computing power and data insights. Our team holds a client first, liquidity neutral, and broker agnostic principle.  FXCM Pro’s transparent and pure agency model resonates with our core value. We are very excited to partner with FXCM Pro.”

FXCM has been one of the leading FX brokers for the past 2 decades but of late, it has received a lot of flak for not taking care of the funds of its account holders. It has been hacked three times over the last few years which has led to its brand image suffering a hit along with its share value. The broker has been trying a lot over the same period to resurrect its image and make it more attractive for retail and institutional traders during this period.

Mario Sanchez, Managing Director and Global Head of FXCM Pro Sales, commented: “FXCM Pro’s liquidity management team continues to work hard to develop partnerships that will enhance execution and trading efficiency. Our latest partnership with Fortex provides us with an additional channel, and we are both aligned in our strategy of easing the connection and offering customized trading solutions. Through this partnership, we are ensuring that FXCM Pro’s liquidity is easily accessible to a wide pool of brokers, hedge funds, and professional traders.”

It is open to question whether these efforts, along with its efforts to strengthen its security, would bear fruit in the long run and push its revenue and trading volumes higher.

 

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