Gain Capital has launched Forex.com, its online currency trading service, in the UK and Europe.
Gain Capital has launched Forex.com, its online currency trading service, in the UK and Europe.
The service enables customers to trade the world’s major currencies, including the British Pound, Euro and US Dollar, as well as gold and silver, 24 hours a day, five days a week.
Glenn Stevens, chief executive of Gain Capital, says: ‘Forex is a trader’s market, and retail investors around the world are increasingly aware of all this market has to offer. Forex.com has established a strong leadership position in the US and we believe our service will be well-received by traders in the UK and European markets looking for a well-capitalized firm that offers premium trading tools and research, competitive pricing and, of course, a solid reputation.’
Matthew Wright, regional director, Forex.com UK, adds: ‘As a result of the financial crisis, retail investors have lost faith in the stock markets and are unhappy with low interest rates on savings. In lieu of traditional investments, research shows retail investors are increasingly looking at alternative asset classes such as forex as an opportunity to generate positive returns.’
Forex is the most traded market in the world, with a daily volume that exceeds USD3.2trn, according to the Bank for International Settlements. Forex trading is one of the fastest growing areas of trading among retail investors, according to Aite Group, an independent financial services research firm. By the end of 2007, average daily trade volume in the retail forex market reached USD77bn, an increase of 670 per cent over 2001.
Forex.com’s trading platform provides streaming executable quotes in 37 currency pairs, advanced charting and technical analysis tools and sophisticated order management. Traders also receive expert market commentary and analysis from the Forex.com research team, including intraday, daily and weekly research reports covering both fundamental and technical market trends.
