LeapRate Exclusive – LeapRate has learned that Polish FX and CFDs broker XTB has hired the corporate finance arm of accounting firm Ernst & Young (“E&Y”) as its exclusive advisor to help bring on more of what it calls “business partners” – introducing brokers, white label partners, as well as outright acquisitions of online FX brokers in selected locations.
XTB is based and licensed in Poland, as well as by the FSA (UK) and in Turkey. It bills itself in the information memo prepared by E&Y as biggest independent broker of retail over-the-counter products, in Central Europe. The majority of XTB’s business is done via MetaTrader, although it also offers its own proprietary platform xStation.
The hire-an-investment-banker approach is somewhat unique in the Forex world, at least for these kind of purposes, where most firms handle new IBs / WLs in-house.
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