Germany’s FinTech Group, the parent company of the forex and CFD broker flatex has entered into a strategic long-term partnership with the mutlinational financial services corporation Morgan Stanley.
According to the announcement, by the middle of 2016 at the latest, the broker flatex will start branding and offering exchange traded products (ETP) issued by Morgan Stanley. This would allow the flatex customers trade in a wider range of products, possibly at a lower trading cost. At the same time the broker will continue offering the products of its other partners.
“The partnership with Morgan Stanley is an important step for flatex: After a decade of successfully disrupting the German online-brokerage market, flatex proves once again its status as the No. 1 innovator and pacemaker by offering structured products and warrants under its own brand together with the best partner possible. More than 150,000 flatex customers will have access to ETPs that benefit from the combined market experience of flatex and Morgan Stanley.” says Frank Niehage, CEO of FinTech Group AG.
Flatex is a German broker founded in 2006. It offers trade in forex, CFDs and securities and is regulated by the German Federal Financial Supervisory Authority (BaFin). There is no minimum required deposit and the leverage is up to 1:100. The available trading platforms are MetaTrader 4 and flatex’ proprietary trader for trade in securities.
According to Niklas Helmreich, head of flatex, last year the company’s CFD and forec revenues rose by 30%, while costs and risks were reduced. “We also expect our partnership with Morgan Stanley to result in a further push of earnings,” Helmreich said.