After teaming up with Barclays to launch the Barclays Margin FX white label partnership, FXCM has managed to attract yet another broker to offer its FXCM Trading Station platform: the Spanish GVC Gaesco. One can only wonder about the profitability of white label deals: FXCM reports institutional customer trading volume of $46 billion in September 2012, 8% lower than August 2012 and 64% lower than September 2011. The institutional trading volume for the Q3 was $156 billion, 61% lower than the second quarter 2012 and 49% lower than the third quarter 2011. That doesn’t look too good but considering the low market ... (full story)